Find the depreciation rate of your Toyota Tacoma in the graph below.
All vehicles start to depreciate — lose their value — from the moment of purchase, and the Toyota Tacoma is no exception. The most depreciation occurs in the first year after the initial purchase. After those 12 months, the Tacoma will start to depreciate at a slower rate each year until it reaches the seven-year mark. Makes and models depreciate differently, so it’s important to know the depreciation rate of your vehicle. By learning about the Tacoma’s depreciation rate, you can determine its long-term value and overall cost of ownership.
Keep in mind that just because the vehicle costs the least to own in the sweet spot we have outlined here, you still may not want to own the vehicle during these depreciation sweet spot years. Although vehicles depreciate less as they get older, they have more repairs. Duh right? However, keep in mind that repairs don’t just cost you money, they cost you time. Reliability is the difference between being able to make it to your destination on time or missing an opportunity because the car broke down.
Check out our article on the best and worst years of the Toyota Tacoma to see our reliability ratings for all years of the Tacoma between 2001-2022. We also cover MPG, safety ratings, and a number of other factors. We pulled data from Tacomas registered in our app and surveyed owners to get you data-backed answers on just how good or bad each year of the Tacoma is.
If you want to know the depreciation and maintenance costs for your particular vehicle, use our free “Total Cost of Ownership” tool available in the FIXD App – Android or IOS.
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Toyota Tacoma Depreciation
| Model Years | Mileage | Amount Depreciated | Residual Value Percentage | Resale Value |
| 2001 | 264,000 | $12,182.45 | 17.9% | $2,661 |
| 2002 | 252,000 | $12,520.15 | 18.0% | $2,744 |
| 2003 | 240,000 | $12,710.22 | 18.0% | $2,792 |
| 2004 | 228,000 | $12,660.45 | 21.8% | $3,529 |
| 2005 | 216,000 | $13,906.86 | 19.7% | $3,416 |
| 2006 | 204,000 | $14,136.22 | 20.7% | $3,700 |
| 2007 | 192,000 | $14,229.27 | 22.7% | $4,173 |
| 2008 | 180,000 | $13,209.28 | 30.3% | $5,741 |
| 2009 | 168,000 | $13,759.13 | 30.9% | $6,160 |
| 2010 | 156,000 | $12,796.31 | 34.6% | $6,779 |
| 2011 | 144,000 | $12,607.16 | 38.6% | $7,933 |
| 2012 | 132,000 | $12,375.37 | 40.6% | $8,460 |
| 2013 | 120,000 | $12,358.83 | 42.6% | $9,171 |
| 2014 | 108,000 | $11,098.85 | 49.0% | $10,663 |
| 2015 | 96,000 | $11,098.55 | 56.3% | $14,276 |
| 2016 | 84,000 | $12,858.08 | 54.3% | $15,300 |
| 2017 | 72,000 | $11,893.79 | 59.6% | $17,570 |
| 2018 | 60,000 | $11,761.63 | 62.0% | $19,159 |
| 2019 | 48,000 | $9,487.14 | 69.7% | $21,864 |
| 2020 | 36,000 | $6,716.69 | 78.6% | $24,713 |
| 2021 | 24,000 | $5,277.54 | 82.5% | $24,813 |
| 2022 | 12,000 | $2,004.74 | 92.8% | $26,027 |
| 2023 | N/A | N/A | N/A | N/A |
| 2024 | N/A | N/A | N/A | N/A |
The chart above conveys the approximate depreciation for a Toyota Tacoma. Based on Kelley Blue Book data since 2001, it assumes a vehicle in standard trim, a generic color such as black or white, and a mileage of 12,000 per year.
Keep in mind that the auto market was heavily affected in 2020 and beyond. Automakers selling new cars during the COVID pandemic raised prices which caused a spike in demand in the used car market as people tried to save money. Many automakers, however, did not drop prices after the pandemic, they kept them so they could make a larger profit.
This is why the most recent years of many vehicles have seemingly experienced less depreciation. Some may have even appreciated due to the heightened levels of inflation created.
Factors That Impact the Toyota Tacoma Depreciation Rate
Toyota has a strong reputation for delivering a lineup of solid, reliable vehicles, including cars, SUVs, and pickup trucks. The Japanese automaker is well known for its precise engineering and quality control management practices. Toyota vehicles often have minimal mechanical issues and reliability concerns, which can boost their resale values. Aside from Toyota’s reputation, various other factors can influence the depreciation rate of your Tacoma.
Age
The age of your Tacoma can be a major factor in its depreciation. Your vehicle’s age refers to its model year, which describes its generation and features and can differ from the calendar year the vehicle becomes available. Typically, the greatest depreciation happens in the first few years of ownership. Outgoing model years can depreciate more quickly once a new generation arrives.
Each model year has different features and equipment. Toyota and other vehicle manufacturers refresh or redesign their vehicles every year. For example, an automaker may add updated technology to a new model year to entice people to buy it. For this reason, some model years have better features than others, which can affect the resale value of your specific Tacoma.
Body Type
A vehicle’s body type, or body style, is a classification based on its size and design. Some common body types include sedans, coupes, hatchbacks, convertibles, sports cars, station wagons, minivans, sport utility vehicles (SUVs), and pickup trucks. In the North American market, small to midsize SUVs and pickup trucks usually depreciate the slowest among the different body types because of a large demand for these vehicles. In contrast, luxury cars depreciate the quickest.
The Toyota Tacoma is a midsize pickup truck known for its off-roading capability. Vehicles in this class often have slower depreciation rates than other body types. If the market shifts toward greater demand for small cars, such as sedans and hatchbacks, the Tacoma and other pickup trucks may start to depreciate more quickly.
Mileage
The mileage on your Tacoma can impact its depreciation and resale value. Typically, vehicles with higher mileage have a lower value because they may require more maintenance and repairs. The average person drives slightly over 1,000 miles per month, according to federal data. For this reason, we base our model on 12,000 miles of driving per year. If you drive more than that, your Tacoma may depreciate at a faster rate. Conversely, driving fewer miles than average each year may help your Tacoma retain its value.
Overall Condition
The overall condition of your Tacoma refers to its mechanics and appearance. Generally, you can keep a vehicle in good condition by scheduling routine maintenance, such as oil changes, and taking care of it. A well-maintained Tacoma may depreciate more slowly, so you can get more for the truck when you’re ready to sell or trade in the vehicle.
However, it’s important to note that at a certain point, it may not be worth continuing to maintain your Tacoma. For example, if the truck requires maintenance or repairs that cost more than it’s worth, it might be better to sell the vehicle and purchase a new one. If you continue to spend money on maintenance and repairs, you may not see the same return when you eventually sell the truck.
Color
Even the color of your Tacoma can impact its depreciation and resale value. A recent study found certain colors, including yellow, beige, and orange, have slower depreciation rates than other vehicle colors. That’s probably because fewer cars are available in those colors on the market. More mainstream vehicle colors, such as black, brown, and gold, have faster depreciation rates. For this reason, consider purchasing a Tacoma in a less common color to get the best resale value for the truck.
Other Costs of Toyota Tacoma Ownership
While a vehicle’s depreciation rate is an important cost to consider, it’s not the only expense related to owning a vehicle. Here are some other costs of owning a Toyota Tacoma.
Insurance
You must have insurance on your Tacoma to drive it legally. The cost of insurance can vary based on several factors, including the vehicle you drive. Insurance companies often base their rates on a vehicle’s safety and use. If you drive a Tacoma with advanced safety features, you may get a lower rate.
On average, the Toyota Tacoma is slightly cheaper to insure than other vehicles. It costs $136 per month to insure a Tacoma, according to The Zebra. In comparison, the average cost to insure all vehicles is $147 per month. Where you live can also affect how much you pay for insurance. For example, the Tacoma is one of the cheapest vehicles to insure in California.
Maintenance
By taking your Tacoma in for routine maintenance, you can maintain its operability and value. It’s relatively affordable to maintain a Toyota Tacoma. It costs an average of $550 per year for maintenance. In comparison, the average maintenance cost for all vehicles is $694 per year. If you own a Tacoma for eight years, you will pay about $4,400 in maintenance over the course of your ownership.
However, different model years of the Tacoma may have issues, such as reliability concerns, that can affect the cost of maintenance. You can compare the maintenance costs by Tacoma model year using our graph. In particular, these model years have issues that can cause them to depreciate faster:
- 2001
- 2003-2010
- 2016
The Best Model Year To Buy a Toyota Tacoma
Based on factors including price and reliability (but not depreciation), our choice for the best Toyota Tacoma model years to buy are the 2002, 2011-2015, and 2017-2021, but check out our article on the best and worst years of the Tacoma to get the whole story.
When you account for depreciation, we recommend purchasing a 2011-2013 Tacoma. That’s the depreciation sweet spot for this vehicle. These model years also have high ownership ratings and a low chance of needing costly repairs.
Buying a Toyota Tacoma New vs. Used
| 20-Year Projection | ||
| Years Since Purchased | Depreciated Value | With Inflation |
| 1 | $26,216 | $28,941 |
| 2 | $23,306 | $27,235 |
| 3 | $22,205 | $26,083 |
| 4 | $19,690 | $23,216 |
| 5 | $17,515 | $20,552 |
| 6 | $16,837 | $19,708 |
| 7 | $15,340 | $17,982 |
| 8 | $15,905 | $18,754 |
| 9 | $13,843 | $16,377 |
| 10 | $12,035 | $14,391 |
| 11 | $11,470 | $13,943 |
| 12 | $10,905 | $13,629 |
| 13 | $9,775 | $12,431 |
| 14 | $8,729 | $11,220 |
| 15 | $8,560 | $10,836 |
| 16 | $6,413 | $8,039 |
| 17 | $5,848 | $7,314 |
| 18 | $5,565 | $7,004 |
| 19 | $6,159 | $7,706 |
| 20 | $5,085 | $6,265 |
When buying a Toyota Tacoma, you may want to know whether it’s better to buy a new or used model. After three years of ownership, a 2020 Tacoma has accumulated $6,717 in total depreciation costs, making it worth about $24,713 when accounting for inflation. In comparison, a brand-new Tacoma will accumulate about $6,045 in depreciation in the same period. Factoring in inflation, it will be worth about $26,083 in three years.
Despite the small difference in depreciation costs, it’s better to buy a used Tacoma than a new one. That’s because if you purchase a new Tacoma, you’re the one who will lose the initial value over the first few years. By purchasing a used model, you’re letting the original driver take the biggest hit in depreciation. When you purchase the truck, the depreciation will have slowed, and you’re likely to get a better resale value when you sell it.
Do your research when buying a used Tacoma. Use resources such as Kelley Blue Book to get an estimated value of the truck so you know what it’s worth. Additionally, consider other vehicle expenses, such as insurance and maintenance, to determine the overall ownership cost of a used Tacoma.
Methodology
We base our findings on residual value after depreciation and the cost to maintain or repair each model year of the Toyota Tacoma per mile. The data in this article applies to a Tacoma in the base trim with standard options. Higher trims and models with advanced equipment may have higher resale values. In addition, other factors, such as the vehicle’s condition and how you sell it, can affect how much you get for your Tacoma. Other factors, including the ongoing COVID-era chip shortage, can also impact the resale value of used vehicles.
Keep in mind, there are large economic factors at play here too and the sale of new cars has caused shifts in the used market too. There is a stark difference in the cost of vehicles due to car manufacturers seeking higher profit margins after COVID as detailed by CNN and posted by CBS channel 58:
“… (T)he auto industry saw sky-high profits even as sales plummeted. Domestic manufacturers of cars and car parts saw a profit of $32 billion through the third quarter of 2022 (the latest data available) — their largest profit since 2016. Car dealerships also reported record-breaking profits through Q3, according to auto-retail advisers Haig Partners.
That’s because pandemic-era pent-up consumer demand remained strong as supply shifted, allowing automakers to increase their prices and their profit margins. Cars and trucks were sold nearly as soon as they hit dealership lots, and the average price paid for a vehicle in December soared to a near-record high of $46,382, according to J.D. Power.
Data from the Labor Department’s November Consumer Price Index shows American consumers are paying about 20% more for cars than they were in 2019.
The trend could continue into next year — research website Edmunds expects new-car sales to hit 14.8 million in 2023, a marginal increase from last year but well below pre-pandemic levels.
The auto industry has entered a new era: Less choice, higher prices and larger profit margins. So far it seems to be working for them.”
This shift by car companies to create higher profit margins by taking advantage of the heavily-reported-on chip shortage panic of COVID has had rebounding effects upon the value of used cars.
Be aware that newer years (the latest 3-4 model years) may be inflated in price because of this and depending on how big this problem is for the model you are considering – it may even be inflating the price of the older model years.
Frequently Asked Questions About Vehicle Depreciation
Do Toyota Tacomas Hold Their Value?
In general, Tacomas hold their value well, thanks to Toyota’s reputation and a strong demand for pickup trucks in the market. Keep in mind, however, that the resale value of your Tacoma can vary based on several factors, including its age, mileage, condition, and other factors outlined here. In addition, the manner of sale can also affect the value you get for a Tacoma.
For example, if you have a good-conditioned black Toyota Tacoma SR in an access cab configuration with a six-foot bed and standard equipment, you can get $19,919 for the truck if you trade it to a dealership. In comparison, you can get $23,423 for the same truck if you sell it to a private party, according to Kelley Blue Book.
What Are the Best Years of Toyota Tacoma To Buy and Which Ones Should You Avoid?
When purchasing a used Tacoma, do your research to determine the best model years to purchase. Based on our findings, the best model years of the Tacoma are 2002, 2011-2015, and 2017-2021. These model years have good owner ratings, low upkeep costs, and a minimal chance of costly repairs. If you want the best value based on depreciation, choose a 2011-2013 Tacoma to stay within the sweet spot.
On the other hand, here are the Tacoma model years to avoid:
- 2001
- 2003-2010
- 2016
None of these model years are within the depreciation sweet spot. They have various issues, including low reliability scores and a high likelihood of requiring extensive repairs.
What's High Mileage for a Toyota Tacoma?
The Toyota Tacoma is capable of achieving high mileage. For instance, the 2001 model year, despite being on our worst years list, has an average mileage of 225,000, and the 2002 Tacoma (on our best years list) has an average of 200,000 miles. These are outstanding results. When considering data for the truck’s first, second, and third generations, we peg the Tacoma’s high-mileage threshold at 150,000 miles.
However, getting to this point and crossing the 200,000-mile mark depends on several factors, including gentle driving, diligent maintenance, and some luck (no accidents). A poorly maintained Tacoma driven roughly may not attain high mileage or may require expensive repairs.
Further, a truck stretched to its limits may also face longevity challenges. Among surveyed Tacoma owners, 27% depend on their trucks for hauling and towing, and another 14% rely on their Toyota for outdoor/off-road use. In other words, a well-used 100,000-mile Tacoma may be less ready for the road than a 150,000-mile example that’s never seen a trailer or a trail.
The best way to determine if a Toyota Tacoma has seen better days or is ready for more adventures is to have a professional mechanic inspect any vehicle under consideration.
The 2011-2015 Tacomas on our best list will likely hit the 150,000-mile mark and even further. If your goal is to buy a used Toyota and have it last 100,000 miles or more, check out the 2017-2021 model years.
How Old of a Toyota Tacoma Should You Buy To Avoid Most of the Depreciation?
Purchase a 2011-2013 Toyota Tacoma to avoid the most depreciation. These model years are the sweet spot for the Tacoma. They also make our list of best Tacoma model years to purchase because of their good owner satisfaction rankings, moderate upkeep costs, and low chance of expensive repairs.
References
(2023.) Why Are Toyota Cars So Reliable? MotorBiscuit. Retrieved Oct. 30, 2023, from https://www.motorbiscuit.com/why-toyota-cars-reliable/
(2023.) The Toyota Tacoma: Why Does Everyone Love It So Much? Gear Patrol. Retrieved Oct. 30, 2023, from https://www.gearpatrol.com/cars/a43855983/toyota-tacoma-appeal/
(2022.) Average Annual Miles Per Driver by Age Group. U.S. Department of Transportation, Federal Highway Administration. Retrieved Oct. 30, 2023, from https://www.fhwa.dot.gov/ohim/onh00/bar8.htm
(2023.) The Best and Worst Car Colors for Resale Value. iSeeCars. Retrieved Oct. 30, 2023, from https://www.iseecars.com/car-color-study
(2023.) Toyota Tacoma Insurance Cost. The Zebra. Retrieved Oct. 30, 2023, from https://www.thezebra.com/auto-insurance/vehicles/toyota/tacoma/
(2023.) What Is the Average Cost of Car Insurance? The Zebra. Retrieved Oct. 30, 2023, from https://www.thezebra.com/auto-insurance/how-to-shop/average-auto-insurance/
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