We know the used car market is wacky right now. But some SUVs hold their value better than others. The old rule of thumb was that a vehicle lost about a third of its value the second you kicked it out of a parking lot. Not so with the 2020 Toyota Highlander.
Highlander’s Kelly Blue Book value barely dropped
The typical list price for a used XLE trim is $39,453, according to Kelly Blue Book. That’s a pretty incredible value considering an XLE version was $40,775 new. There are very few SUVs you can put 36,000 miles on over two years and only lose $1,300 in value. But, if that same Highlander had low mileage, say 10,000, it would be worth more used than new, and the typical listing price today is $42,179.
Why does the 2020 Highlander hold its value?
The Highlander has been continuously updated since its arrival in the United States in 2001. The Highlander is Toyota’s biggest, but not the biggest, SUV. It would be the Sequoia. But the Highlander grew to include more powerful V6 engines, up to seven seats and an almost luxurious interior.
The 2020 revision brought many more features, better handling and a much more powerful engine. It would take a Toyota fan to spot the differences between a 2020 Highlander and a 2022, and that’s a big reason why it retains its value. The Highlander has a third row, but it is more suitable for children than adults. The 2020 came with several standard features that were major options in the previous generation. The big upgrade, however, is the hybrid version which is also all-wheel drive.
Consumer Reports recommends the 2020 Highlander
The 2020 Highlander, along with the 2021 and 2022, were all on Consumer Reports’ list of recommended SUVs. They are recognized for their reliability as well as their comfort on the road. It’s so good that Lexus borrowed the platform and made it the Lexus RX, which is now Lexus’ best-selling SUV.
Also at JD Power, the 2020 Highlander gets top marks for its driving experience, quality and reliability. In fact, it’s ranked the No. 1 upper midsize SUV by JD Power for 2020, which contributes to its Kelly Blue Book value.
How much does a 2022 Toyota Highlander cost?
The 2022 Toyota Highlander starts at $35,855 for a base, front-wheel-drive version, which means the Kelly Blue Book value of a used vehicle is more than new. Toyota makes 11 different trims, and the popular midsize XLE and XSE trims cost around $42,500 and offer the luxuries you’d expect in a luxury SUV. At that price, you get soft-touch leather trim on the dash and doors, two-tone leather seats, a large touchscreen, and more.
The highest trim level of the 2022 Highlander, the Platinum, starts at $48,010 for a gas-powered front-drive version, but tops out at nearly $50,000 for the hybrid version. It comes with heated front and second-row seats, a 10-way driver’s seat, a 360-degree bird’s eye view camera, premium sound and your choice of four interior colors. It’s also one of Consumer Reports’ highest-rated three-row SUVs.
RELATED: 7-Passenger Shootout: 2023 Toyota Sequoia vs. Grand Highlander
