The Toyota Land Cruiser Is Expensive But Does It Hold Its Value?
Buying a Toyota Land Cruiser is an expensive endeavor. Fortunately, you can expect a Land Cruiser to last a pretty long time. But, can you expect it to hold on to its value too? Maybe. Maybe not. Let’s find out.
The Land Cruiser costs a ton of cash
The Toyota Land Cruiser is expensive. A base model will cost you at least $85,565, which is more than enough cash to leave your wallet in a panic. Upgrade to the Heritage Edition and you’ll be spending a minimum of $87,995. So buying a new Land Cruiser? Yeah, that’s an expensive endeavor.
But a Land Cruiser isn’t just expensive to buy. This SUV is also expensive to own. According to Repair Pal, the average total annual cost for repairs and maintenance on a Toyota Land Cruiser is $843. Compare that to an average of $784 for fullsize SUVs and $652 for all vehicle models, and that’s pretty expensive.
Why the Toyota Land Cruiser is so expensive
But there’s a reason the Land Cruiser is so expensive to buy. It comes readily equipped to handle the trails, is brimming with premium interior amenities, and? It’s pretty reliable. According to Consumer Reports, this year’s model earned a four out of five predicted reliability rating. That’s not all that bad.
The Toyota Land Cruiser also lasts a very long time. And I mean a really long time. According to iSee Cars, which analyzed over 15.8 million cars sold in 2019 to determine which models have the highest percentage of vehicles that reached 200,000-miles, the Land Cruiser is the longest-lasting SUV out there. In fact, according to the study, 15.7% of all Land Cruisers sold in 2019 reached 200,000-miles.
And if 200,000-miles doesn’t quite do it for you? iSee Cars reports that 1.5% of Land Cruiser models surpassed not only 200,000-miles but 300,000-miles. Impressive, right?
Do Toyota Land Cruisers hold their value?
But the question remains, do Toyota Land Cruisers hold their value? After all, they are extremely expensive. Well, as it turns out, CarEdge reports that you can expect the Toyota Land Cruiser to depreciate 47% after five years, giving it a five-year resale value of $49,018.
Keep in mind that, according to CarFax, the value of a new vehicle drops by approximately 20% during the first year of ownership and about 40% after five years of ownership. Seeing as you can expect a Land Cruiser to depreciate 47% after five years, that’s not exactly great.
Too bad this SUV is being discontinued
There’s more bad news too. The Land Cruiser has been discontinued after the 2021 model year. So if you’ve got your heart set on this SUV? Then you may want to head to your local Toyota dealership in the near future. But do try to save some money if you do purchase one. After all, the Land Cruiser doesn’t hold on to its value all that well.