How to Determine the Trade-In Value for a Toyota
Lots of factors including the model and year of your Toyota, its condition, and the resale demand will affect its trade-in value.
Written by Brittni Brinn
Reviewed by Kathleen Flear
The trade-in value for a Toyota will vary depending on the model year, the condition of the vehicle, and the resale demand. You can use online car value estimators like
Kelley Blue Book
to get a quote of how much your Toyota may be worth.So, you want to buy a new car and get rid of your old Toyota at the same time? Trading in your Toyota is a great option that can significantly reduce the total amount you’ll have to pay for your new vehicle. You get to save on your new car and get rid of your old one at the same time—a two-in-one deal!
To help you minimize your
Toyota insurance costs
and maximize your Toyota’s value for trade-ins, the car insurance
super app Jerry
is here to break down the process for you. From determining your Toyota’s trade-in value to giving some examples of Toyota models and their values, Jerry will guide you through trading in your Toyota.What is a car’s trade-in value?
A car’s trade-in value is the amount you can get off the price of a new or used car by trading in your old car against the final price of the sale. A used car dealer will accept an exchange of certain models and trims, valuing the used vehicle at its depreciated price.
What factors determine the trade-in value of a Toyota?
The condition of the vehicle, the demand for that particular model, and your negotiating skills will all come into play when determining the value of your Toyota. A car dealer will use the current market value as a starting point, but it’s unlikely you’ll see full-market value from a trade-in—after all, the dealer wants to make a profit when they sell off your traded-in Toyota.
Here are some additional factors that help determine the value of your Toyota:
- Age
- Make, model, and trim
- Mileage
- Title status
- Location
- Damage history
MORE: Trade-in vs. private sale: What’s the best way to sell your car?
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How do I get a valuation for my Toyota?
Now that you know what goes into determining the trade-in value of your Toyota, it’s time to discuss the where! The easiest place to get a value estimate for your Toyota is online through used car sites like Kelley Blue Book or Edmunds. Kelley Blue Book also offers a list of where cash offers are available for certain traded-in vehicles.
You can also get the value of your Toyota directly from the dealership. It’s good to check with the dealer selling you your new car, as dealerships will only take certain vehicles in exchange for new ones. Before your used car dealer takes a look at your Toyota, you’ll want to gussy it up so that you get the best trade-in value possible.
Here are some tips for making sure you get the best trade-in value for your Toyota:
- Make sure your Toyota is in top shape: The fewer repairs a dealership has to make, the more they can make off of resale.
- Clean and detail your car: A car that looks well-maintained will be more likely to sell and will be more attractive for the dealership to take on.
- Look for cash offers: For example,Kelley Blue Book’s Instant Cash Offerpage will provide an offer to trade in certain vehicles at participating dealerships. A vehicle’s eligibility for these offers is based on specific elements including installed options, specific conditions, and local market demand.
Key Takeaway You can maximize the trade-in value of your Toyota by fixing it up and giving it a deep clean before the dealer inspects it.
Do Toyotas hold their trade-in value?
Your new car loses value the moment it leaves the lot, but some vehicles hold their value longer than others. Everything from the year model to the
reliability of a Toyota
will affect its trading-in value.Take a look at the tables below to compare the best and worst Toyotas in terms of holding value.
Best Toyotas for holding value
Model | Average depreciation rate (5 years) | Notes |
|---|---|---|
Toyota Tacoma | 13.8 percent | Top-rated Toyota in terms of holding value |
Toyota Tundra | 19.5 percent | Reliability and popularity helps this vehicle hold its value |
Toyota Corolla | 32.9 percent | One of the best-rated small cars in terms of holding value |
Toyota Highlander | 38.0 percent | Won Kelley Blue Book’s 2021 Best Resale Value award |
Worst Toyotas for holding value
Model | Depreciation rate over first five years | Notes |
|---|---|---|
Toyota Sequoia | 39.7 percent | Better than other full-size SUV average rate of depreciation (44.1%) |
Toyota Camry | 40.7 percent | Still better than the average depreciation for most midsize cars (43.6%) |
Toyota Avalon Hybrid | 50.3 percent | Hybrids tend to depreciate faster, but this vehicle is worse than the average depreciation rate (45.4%) |
The above tables are based on average value depreciation and don’t take additional factors like location, condition, or mileage into account. A dealership may value your Toyota at a higher or lower rate depending on these factors—but at least the tables give you a general idea of what your Toyota may be worth when trading in.
For the most part, Toyotas tend to hold their value better than other vehicles in their class. This is due to Toyota’s reputation as a
good car
, its lasting popularity, and the variety of quality models available.How to find affordable car insurance
Arranging to trade in your Toyota for a new car can be a hassle—but getting a good deal on your car insurance shouldn’t be! Whatever model you choose to trade in for, Jerry can help you find the most affordable coverage for your new ride!
It’s simple: download the
trustworthy comparison shopping super app
and sign up to access dozens of personalized quotes from over 55 top-rated providers nationwide! In the blink of an eye, Jerry will find you the most affordable rates and will take care of all the paperwork and calling around once you decide which policy you want.With Jerry, you could save an average of $887 a year on your car insurance!
“I just had to buy a new car, and I needed quick help to get insurance before I could get my plates. Because I work so many hours,Jerrywas the ideal choice for getting things done without long phone calls and waiting periods.” —Rosa G.
Let Jerry find your price in only 45 seconds
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FAQ
Should I trade in or sell my vehicle on my own?
There are benefits to both trading in and selling an old vehicle. With a trade-in, you don’t have to worry about looking around for a buyer or setting your price—the dealership takes the car off your hands and applies its value to your new car purchase.
With selling your old vehicle on your own, however, you can make more money than trading in, since the dealership will value your car at lower than market price to make sure they can resell at a profit.
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