Should I Buy a Used Toyota Rav4?
Should I Buy a Used Toyota Rav4?
Posted on September 21, 2021
It is pretty obvious that buying a used vehicle presents considerable monetary savings over buying a brand-new vehicle, but there are other benefits too. This even holds true for incredibly popular vehicles, such as the Toyota RAV4. RAV4s hold their value well, but buying a used one still offers thousands in savings for buyers focused on making every penny count.
Here are a few advantages to buying a used Toyota RAV4 vs a new one in Ottawa.
Lower Initial Price
Depreciation on new cars is real and costly. In the seconds it takes to drive off a dealer's lot, a brand-new car can lose up to 20% of its value. By the end of the first year, it can lose another 10%. For a car that costs $30,000, that is a loss of $9,000 in three years.
For buyers that purchase a used Toyota RAV4, that initial depreciation hit has already been absorbed by somebody else. Buying a new car is great, but there are thousands of dollars on the line.
More Features
Buying a used Toyota RAV4 in Ottawa allows drivers to get some of the top-tier technology features that were out of their budget when buying brand-new. This can include driver-assist features, a larger infotainment touchscreen, premium seat coverings, etc. Additional packages and options cost thousands of dollars on brand-new cars, but drivers can make their dollars go farther if they opt for buying used.
Lower Costs
While it is clear that the initial price tag of a used Toyota RAV4 is cheaper than a brand-new vehicle, there are other cost savings that drivers will see with a used vehicle. The first is lower car insurance rates. When a vehicle is worth less, it costs less to insure. Drivers will find that collision and comprehensive coverage rates are not as high, and buyers that can afford to pay for repairs or replacements themselves can drop down to basic coverage to save even more.
Another cost that is lower on a used vehicle are registrations. The cost of registering a used car goes down every year. In addition, drivers with older used cars are not as particular about the way the vehicle looks. Small door dings are not as big a deal on a used vehicle than on a brand-new one. Drivers that can learn to live with a few imperfections reduce their cost of cosmetic repairs, as well as reduce stressors in their life.
The Best Toyota RAV4 Model Years
The most reliable model years of the Toyota RAV4 are 2013, 2015, 2016, 2017, and 2018. For 2016 and 2017, the RAV4 was named a Top Safety Pick+ by the Insurance Institute for Highway Safety (IIHS). For buyers that want the best mix of more modern features and value, the 2017 RAV4 is the best bet. It offers many standard driver-assist features, an affordable price, and incredible reliability.
The Toyota RAV4 is one of the most popular SUVs for a reason, and while they do hold their value very well, buyers can still save thousands of dollars by opting to purchase a used model over a brand-new one.