New cars are more expensive than ever, with an average cost of $50,000. Nobody is excited about this, aside from maybe those making six figures a year who love to overpay for things. With new car prices skyrocketing, a lot of consumers are turning to the used car market. Unfortunately, some of the most desirable commuter cars are holding their value more than expected.
Earlier this month, I wrote an article about a seemingly mundane vehicle that found its way onto Bring a Trailer: A 2015 Honda Fit. Just a regular Honda Fit — not a special edition (if there even are any??), not modded… This regular Honda Fit sold for $18,000 at auction, about the same as it was worth when it came out 10 years ago. This seemed crazy at first. I mean, rare, powerful, and aesthetic supercars are losing value. And fast. The winner of the 2015 Honda Fit was just a man looking for a reliable, small car for his daughter. That’s when it all started to make sense.
While it’s not outwardly flashy, the 2015 Honda Fit represents a lost segment in the modern-day car market: cheap, small, efficient, and reliable cars under $20,000. Automakers are continuing to shift away from compact cars toward chunky SUVs and oversized pickup trucks. At least in America. It actually made a whole lotta sense to get this older car for $18,000 once I really thought about it. It’s not like you’d get a car that small, efficient, and reliable for under $20,000 brand new.
For this same reason, used Toyota models with high mileage are also retaining their value a lot more than people had expected. In fact, it’s getting pretty difficult to find a used, high-mileage Toyota that’s cheap enough to call a bargain.
Toyota’s reliability saves you money down the line, but costs more up front
Toyota is a brand that has become very well known for its reliability, able to push past 200,000 miles on the odometer without any issues. Consumer Reports ranked it at the top of its brand reliability study, and J.D. Power found it had the highest loyalty rate among mass-market car brands over the past four years. That loyalty was won through reliability — in this rocky, expensive day and age, ravaged with tariffs and a crap economy, drivers want to know they can count on their cars. They want to know they’re getting what was promised. It’s this same reliability that has made used Toyotas equally desirable and more expensive.
“Brand loyalty matters to vehicle buyers because it’s often associated with higher residual values, making vehicles from trusted brands a more financially sound choice over time,” said Tyson Jominy, Senior Vice President of Data & Analytics at JD Power.
Toyota vehicles are reliable because the carmaker focuses on simple designs and straightforward manufacturing. Their Total Quality Management (TQM) during manufacturing ensures the vehicles are built to meet customer expectations, which they closely monitor. Toyota also rigorously tests its vehicles, including individual engine components, making sure everything meets specific standards. The other key has been Toyota’s decision to slowly adapt new designs and technologies. Toyota will study a new concept, waiting to develop it once it’s thoroughly tested and proven ready.
CarEdge recently compiled a list of car brands with the best resale value, with Toyota leading the way: its models currently retain 64.9% of their base value over five years. This is due to Toyota’s overall dependability, value, and versatility. There’s a Toyota vehicle for practically every need, making it a brand that’s often recommended to friends and family. Those looking for an everyday commuter that’s reliable, cost-effective, and capable will often choose a Toyota to avoid headaches down the line. And you can get those same benefits from a Toyota with 100,000 or even 200,000 miles.
The Toyota models with the best value retention include the Tacoma, GR86, GR Supra, Corolla Hatchback, 4Runner, Tundra, and Rav4. A used 2023 Toyota Tacoma costs an average of $27,000 to $31,000 for the base model, compared to a brand-new 2026 Toyota Tacoma, which starts at $32,145 for the base model. You’re barely saving anything in most cases, since the 2023 model has decades left in it. If we go back to the 2010 Toyota Tacoma, the base price is around $11,000 to $14,000. It’s a much better deal than the 2023, but it’s still quite high for a pickup that’s over 15 years old. To be honest, it probably has decades left in it as well.
While it’s a good thing that Toyota vehicles offer headache-free reliability even at a decade old, it’s definitely a bummer that it’s no longer a no-brainer to go buy a random 2010’s Corolla when you want to save some cash.
