Should I Buy a New or Used Toyota

While most people want to drive off the lot with a shiny, new car with that intoxicating new-car smell, is it really worth it? This article takes a close look at whether you should buy a new or used Toyota.

Here are a few things to consider as you’re making your decision:

1. Warranty

New Toyotas usually come with a warranty, which covers most problems and repairs that might happen in your first few years of owning them. As most new Toyotas do not require many repairs in their first few years, you will not use this much. It is commonly said, however, that it’s better to have it and not need it than need it and not have it.

Used vehicles don’t usually come with warranties, and as they are older than new ones, you will be more likely to encounter problems from them. But, with Toyota, there is another option. Toyota Certified Used cars have been thoroughly inspected and approved by Toyota technicians and come with a warranty, not unlike that of a new Toyota.

2. Price

Unless you’re after a rare or antique Toyota, a new one is going to be more expensive than an old one. If you don’t have much cash to shell out, then you might have to opt for a used Toyota—or a Certified Used Toyota. Toyota does, however, offer financing options. Leasing a new Toyota may be an option for you as well.

3. Insurance

Depending on the model of your Toyota, insurance rates tend to be lower for used vehicles. This is simple economics, as used vehicles cost insurance companies less to replace than new.

If you are young or are in a higher insurance bracket, however, you might be able to offset some of the costs of buying a new Toyota by saving on insurance.

4. Technology

Because of the exponential growth of technology, newer cars will have new and better technology. This can apply both inside the car and under the hood. Better technology usually means better mileage, providing you with savings at the pump. And if you’re a gadget fiend, buying a newer Toyota will make it easier to connect your smartphone and will probably give you access to a more comprehensive audio and multimedia setup.

5. Depreciation

With the exception of buying a rare or vintage Toyota, buying a car isn’t considered an investment. Cars depreciate in value, and the biggest depreciation comes straight after taking it home from the dealership. By the end of its first year, a new vehicle will lose about 40 percent of its value.

Buying a used or Certified Used Toyota means that the previous owner will take the initial depreciation hit. If you buy new, you expect to sell for far less than what you paid for, but if you buy used you may only lose a little.

Which Toyota Should I Buy?

Whether you decide to buy a new or used vehicle, the next step will be choosing the model that fits your lifestyle and needs. Here are five of our favorites:

• Camry. Dependable and reliable, the Camry came into production in 1982 and is known to be a car that will not let you down. They also have the advantage of being particularly fuel-efficient, and there are heaps of good options currently available on both the new and used markets.
• RAV4. This compact crossover SUV was released in 1994 and became an instant classic for people who want the pros of driving an SUV combined with the durability of a solid Toyota.
• 4Runner. A mid-size sports-utility vehicle that packs a punch. If you keep it well-maintained, it will last forever.
• Corolla. A touch smaller than the Camry, these vehicles are as dependable as higher value cars, such as the Camry.

Trust us when we say these options only scratch the surface. In both new and used, you’ll find the classic hybrid Toyota Prius; the versatile Toyota Tundra or Tacoma; or the stylish Toyota Venza and Highlander.

Why Are Toyotas So Popular?

In recent years, Toyotas have been continuing to gain in popularity. But why is this? Consumers often state that they appreciate their Toyotas due to their solid build, reliability, efficiency, comfortability, and quietness.

It’s not just a few of the Toyota models that are known for their reliability. Toyotas are known across the board to be outstandingly long-lasting. It’s perhaps for this reason that Toyotas should have excellent resale value. They are often included in lists of cars that have the highest resale value.

Toyota has been a pioneer in eco-technology and continues to come out with eco-friendly models for consumers. This is smart thinking from Toyota, as consumers have been getting more environmentally conscious in recent years, in a trend that only looks set to continue. Hybrid versions are currently available for the Prius, Highlander, Rav4, Corolla, Sienna, Venza, and Camry models.

Last, but not least, Toyotas have etched out a name for themselves as being safe cars to travel in, another reason why consumers often opt for a new or used Toyota over their rivals.

Bottom Line

If you want to have the joy of riding around in a brand-new Toyota with all the latest technology, you should look at buying new. When buying new, you don’t have to worry as much about something going wrong, as you are covered by warranty, which isn’t generally the case if you buy used—unless you buy Toyota certified used cars.

On the other hand, buying a used Toyota will save you money in terms of depreciation. While new Toyotas can make up a little of this when you factor in the potential for reduced insurance.

Either way, though, purchasing a Toyota at a good price will ensure you years of great driving.

Beaverton Toyota

Whether you’re looking to buy a new, used, or certified Toyota, check out Beaverton Toyota. We offer the CLEAR Purchase Experience and exceptional value for all our cars. We can’t wait to help you.

Tags: Beaverton Used Car, Certified Used Toyotas, New Toyota, Used Car, Used Toyotas
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