Unveiling the Depreciation Mystery: 2021 Toyota Land Cruiser's Value Over Time
The iconic Toyota Land Cruiser, a legendary SUV with a rich history spanning over 70 years, has seen its final chapter with the 2021 model year. This was the last Land Cruiser to boast V8 power and a three-row cabin, making it a sought-after choice for enthusiasts. However, the question arises: how has its value evolved over the years?
The Last Stand of the V8 Land Cruiser
The 2021 Toyota Land Cruiser, with its V8 engine and three-row cabin, was a unique offering in the market. Its MSRP of $87,030 (including destination charges) positioned it as a premium choice. But, as with many vehicles, the allure of newness fades, and depreciation sets in.
Depreciation Insights
CarEdge estimates a 35.4% depreciation over five years, projecting a resale value of around $56,200. However, the market tells a different story. Autotrader and CarGurus listings reveal that even in good condition, the 2021 Land Cruiser fetches prices between $74,000 and $80,000, with high-mileage models dropping to the mid-$60,000s. This discrepancy highlights the challenge of accurately predicting resale value.
Long-Term Outlook
Looking beyond the five-year mark, CarEdge's predictions are eye-opening. The 2021 Land Cruiser is projected to lose 44.7% of its original MSRP over seven years and a staggering 54.2% over a decade. These figures raise questions about the long-term value of used Land Cruisers, especially considering the limited availability on the used market (only 3,711 sold in 2021).
Comparative Depreciation
Toyota's overall depreciation rate of 32.1% for the 2021 model year is relatively close to the Land Cruiser's 35.4%. However, when compared to competitors, the Land Cruiser's depreciation story takes an interesting turn.
Chevrolet's 2021 Tahoe, a body-on-frame SUV, experiences a higher depreciation rate of 52% over five years. Nissan's 2021 Armada, a platform mate to the Infiniti QX80, takes the lead with a 66.2% depreciation over five years, making it one of the fastest-depreciating cars in the market. These figures highlight the varying depreciation trends among SUVs, leaving enthusiasts with much to consider.
