Cars start to lose value as soon as they’re driven away from the dealership—but if you sell your Toyota within five years of ownership, you’ll have a better chance of earning up to 60% of the original value. Other factors like your car’s condition, its mileage, and market demand also affect how much you can get for your Toyota.

Selling a Toyota usually isn’t difficult. The brand has a solid reputation for quality and reliability—in fact, Toyota says that 80% of the cars it sold 20 years ago are still on the road! But knowing exactly how much your old car is worth can help you walk away with the most cash in your pocket.

Here to help you understand the numbers is top-rated

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Jerry

. In this guide we’ll explain how to determine the value of your Toyota, what you can do to increase its worth, and how to decide if your Toyota is worth selling.

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What goes into determining my Toyota’s resale value?

Ultimately, the real value of your car comes down to what someone is willing to pay for it. But there are several factors that can help you figure out what your car is worth. Here’s what you’ll need to think about:

Depreciation: Your Toyota began to lose value from the moment you drove it out of the dealership’s parking lot. While Toyota is one of the best car brands when it comes to retained value, some models can depreciate by up to 60% after five years of ownership.

Mileage: Cars with high mileage are more likely to have mechanical problems, so you might have a hard time selling a car that’s racked up over 100,000 miles. To get the best resale price, aim to drive less than 15,000 miles a year.

Accident history: Accidents can really put a wrench in your Toyota’s resale value. Even if you have it fully repaired, your vehicle can lose up to 30% of its value after an accident.

Model: Do you have a

Toyota Highlander

Tacoma

, or

Prius

? These high-demand Toyota models usually sell for a better price. But buyers might expect a bargain if you’re selling a less popular model like the

Avalon

Condition: Does your car still look shiny and clean because you kept up with routine

car maintenance schedule

? It’ll probably have a higher resale value. Grime, dirt, scuffs, dents, and dings will all reduce the value of your car.

MORE: How to sell a car for the best price

Resale value vs. trade-in value

When you’re ready to sell your car, you have the option of trading it to a dealership in exchange for credit towards a new car purchase. While there are advantages to trading in your car—especially if you’re looking to buy a brand-new car immediately—resale can lead to greater financial payoff.

However, selling a car can be hard work. Buyers will make decisions based on your car’s age, condition, mileage, and more—and they may try to negotiate a lower price if it isn’t exactly what they’re looking for. Whereas a dealership can tell you exactly what to do in order to get the most value from a trade-in, individual buyers can be finicky, and they may not all be looking for the same thing.

MORE: Trade-in vs private sale: What’s the best way to sell your car?

What is the MSRP of my Toyota?

Before you can determine your car’s resale price, you’ll need to know it’s MSRP. This

helpful guide

from Kelley Blue Book can give you an idea of what your Toyota’s original MSRP was, and how much similar makes and models sell for on the used car market.

Key Takeaway To figure out a resale price, estimate your Toyota’s value based on its MSRP, market demand, condition, accident history, and age.

MORE:

Using Kelley Blue Book to find the right car at the right price

How does wear and tear affect my Toyota’s value?

The most important factor in determining a car’s resale value is its condition. A car that needs repairs will sell for much less than a car that’s already in good shape. The best way to improve your car’s resale value is by following Toyota’s

maintenance schedule

. In general, for every $5,000 you spend on repairs due to an accident or other causes, your car’s value will go down by about $2,500.

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How to calculate the resale value of your car

The exact price you’ll get for your Toyota depends on a lot of factors, but you can start by using this

handy tool

from Consumer Reports to estimate its resale value.

To get an even better idea of how your Toyota compares to other models, you’ll need to determine its depreciated value. According to CarEdge.com, Toyota’s best model year is 2020, with the cars made in that year

retaining 81% of their value

For example, if you bought a new Toyota Tacoma in 2020 for $37,394 and drove it 12,000 miles per year, the car retains 83% of its value, and you can sell it for $31,384 in 2022. If we apply the same parameters to a 2020 Toyota Sequoia that was purchased new for $62,759, its depreciated value is $51,509 in 2022.

While your Toyota’s model and year play a big part in determining its resale value, additional factors like accident history and condition also have a large impact on its final price.

MORE: How different types of car accidents affect your insurance rates

The bottom line: is my Toyota worth reselling?

Once you know your Toyota’s MSRP, depreciation, condition, and mileage, you have all the information you need to set a price. If your car is in great cosmetic shape, was driven less than 15,000 miles a year, and was new within the last five years, there’s a very good chance that you can get a sizable payout through a private sale.

If your Toyota doesn’t meet all the criteria, you may want to consider making some last-minute tweaks—like repairing cosmetic issues or mechanical problems—to increase your odds of a smooth resale.

MORE: Cheap car insurance for low-mileage drivers

How to prep your Toyota for resale

No matter what Toyota model you have or what kind of condition it’s in, you’ll want to get the highest possible value for your car. Here’s a short checklist help ensure your car is attractive to potential buyers:

Get your car detailed. You want to make sure that your car’s interior looks neat and clean. Potential buyers may walk away from a car with dirty or stained upholstery.

Follow a routine

car maintenance schedule

. Make sure your fluids are topped off, get your oil changed, tires rotated, and alignment balanced before you write your “for sale” ad.

Locate any original accessories. Manuals, keys, floor mats, seat covers, and any other accessories that came with your Toyota should be passed on to its next owner.

By going the extra mile and completing this checklist, you’ll put yourself in a great position for a high resale value.

Finding cheap Toyota insurance

Once you’ve sold your old Toyota, you’ll need new

car insurance

. Whether you decide to upgrade to a brand new Toyota model or buy a car from a completely different manufacturer, you’ll want to protect your new ride.

Shopping for car insurance can feel like a hassle after all the work you already put into selling your old car and buying a new one—but that’s why

Jerry

is here to help. Jerry is an insurance comparison app that shops for low prices with dozens of different insurance companies for free.

Just download the app, answer some basic questions, and in less than 45 seconds, Jerry collects all of your information from your existing insurer. Choose from competitive quotes from top insurance companies and Jerry takes care of the rest—securing your new policy and helping you cancel your old one upon request.

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Which Toyota has the highest resale value?

The

Toyota Tacoma

holds on to residual value longer than other models. The

Toyota Tundra

Toyota 4Runner

, and

Toyota Camry

also offer great value for the money.

What is my Toyota worth?

Factors like depreciation, mileage, accident history, and condition all play a role in determining the final price you can get for your Toyota. But you can start by checking this

value appraisal tool

from Edmunds.com.

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