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It’s been a wild five years for used car prices. With global supply chain shortages during the COVID-19 pandemic, many dealerships simply didn’t have new cars to sell. Buyers were willing to pay new MSRP–or more–for a used car. Prices are finally evening out, in dramatic swings. The 2019 Toyota RAV4 Hybrid has become a poster child for this shift in resale value.

  • 2019 Toyota RAV4 Hybrid 3-year depreciation: +2.5%
  • 2019 Toyota RAV4 Hybrid 5-year depreciation: -30.9%

Toyota introduced the fifth generation of its RAV4 for the 2019 model year. The more efficient hybrid version rolled onto lots four months later. With Toyota’s reputation for building especially reliable hybrids, the redesigned RAV4 became a hot commodity. Soon, Toyota’s Ontario and Kentucky plants were barely keeping up with RAV4 demand.

Fast-forward to 2022, and there was a serious shortage of new vehicles. When dealerships got a desirable trade-in, such as a low-mileage Toyota RAV4, many marked up its value. In February 2023, I looked over the 2022 numbers and wrote that three-year-old Toyota RAV4 hybrids had been selling for an average of 2.5% above their original MSRP. That translates to about $883 extra.

Some other desirable makes and models were selling for a bit over MSRP. This included the Jeep Wrangler and Mercedes-Benz G Wagon, both of which enjoyed a 2019 redesign. But the average used 2019 vehicle was still reselling for 23.8% below its original MSRP. The Toyota RAV4’s value was truly exceptional. And it wouldn’t last.

Today, the average Toyota RAV4 and RAV4 hybrid’s five-year depreciation is 30.9%. The RAV4 Hybrid has depreciated even more: 31.2%. That means a used 2019 RAV4 Hybrid lost over $5,000 of value each year, for the past two years. Used RAV4 values are plummeting right now. But they still haven’t caught the rest of the market.

The average used car’s five-year depreciation is 45.6%. The average SUV’s depreciation is 48.9%. So despite the recent dizzying drop in value, a 2019 RAV4 has still depreciated less than any other small SUV. Even the Subaru Crosstrek (33%) and Honda CR-V (35.2%) are depreciating faster. We’ll have to wait and see if used RAV4 prices continue to drop this fast, or finally level out.

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Staff Writer

Henry Cesari

Henry Cesari is a MotorBiscuit Staff Writer who brings his deep interest in vintage cars, trucks, and motorcycles to the site. Henry covers Ford models daily, including the F-150. Having restored his first classic car at just 16 years old, Henry has wrenched on everything from overland campers to Japanese motorcycles and even pre-war Bugattis. He’s an avid attendee at local car shows and genuinely enjoys connecting with fellow auto enthusiasts. Henry earned a Bachelor’s in Anthropology and English from the University of Vermont.

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