Used Toyota cars
Toyota is arguably the most popular car brand in the Philippines, reflected by its consistent top-placing sales performance over the years. Currently, this brand owns more than a third of the share of the local car market. In the global automotive market, this Japanese auto company overtook General Motors (GM) as the number one car producer in 2008.
Some of the characteristics that define Toyota models are its superior quality, value for money and constant redesigning.
Relevance of second hand Toyota cars
The brand’s dominance in the local car scene is not only evident in its sales of brand new cars, but also its sales of second hand units to first time and experienced buyers. This could also be associated with its “brand trust”, an idea that the company has developed since it first started doing business in the Philippines in 1988.
One of the pioneering models that made this brand a favorite in the country was the Toyota Tamaraw FX, a passenger vehicle that was used by non-metered taxi companies and was very popular in the 1990’s. The Tamaraw FX was later replaced by the equally convenient ride, the Toyota Revo, an asian utility vehicle (AUV).
Resale value of Toyota models
Toyota has one of the largest vehicle fleets in the nation, consisting of 17 models for different segments, including the newly released subcompact Toyota Wigo and the colossal Toyota HiAce Grandia.
Trim levels of Toyota models are also developed to cater to the varying social classes of their customers. Basic models particularly target the middle working class, while high-end trims, with features such as leather seats, are aimed to customers from the upper class.
Second hand Toyota models usually have a low resale value making it more affordable for used car hunters. The car brand’s “built to last” designs ensure that these models are still running and in good condition despite increasing their mileage. A Toyota RAV4, for example, whose brand new entry unit costs P1.3 million can decrease in price by P800,000 in just five years.
Price depreciation of used models
Among the factors that determine the price of a used car are its mileage, the vehicle’s overall condition, features, year built and its trim level.