The Car Life Cycle: Understanding Its Impact on Resale Value

When it comes to purchasing a car, one of the most important factors to consider is the life cycle of the vehicle. The car's life cycle can significantly impact its resale value, and understanding this concept is essential for making an informed decision. A car's life cycle refers to the time period between its introduction into the market and its eventual retirement or replacement.

If you're considering purchasing a new car based on upcoming models, you'll want to wait a few months before buying. The reason for this is that the car you buy now may be sitting in front of an older model that's soon to be replaced by a newer version. A car's life cycle can impact its resale value, and if you know that the car you're interested in will be redesigned in the near future, waiting for the newer version will improve your resale value.

On the other hand, if you're looking for a used car now, you may want to consider negotiating a better discount on an older model that preceded a certain redesign. For example, if you're considering purchasing a used Camry or RAV4, it's worth noting that these cars typically retain their value well and can be a good option.

The Resale Value of the Toyota RAV4

In general, many people assume that the RAV4 has a low resale value due to its high annual sales. However, this assumption is not entirely accurate. In fact, used RAV4 models tend to command good prices on the used car market, and they retain a significant amount of their value over time.

According to data, the average RAV4 retains around 56.5% of its value after just five years of use. This means that the average RAV4 depreciates by around 43.5% in the first five years of ownership. The RAV4's depreciation rate is among the lowest in the compact crossover segment.

When it comes to deciding whether to purchase a new RAV4 now or wait for the redesigned model, the timing couldn't be better. The current generation of the RAV4, which was introduced in 2018 for the 2019 model year, will likely be replaced by a new design in 2024 at the earliest or 2025 at the latest.

The Rumored 2024 Toyota RAV4 Redesign

Rumors are circulating that the upcoming 2024 RAV4 redesign will be significant. The current generation of the RAV4 has been well-received by critics and owners alike, but it's likely that Toyota will want to update the design to stay competitive in the market.

The rumored redesign features a wider body, cutting roofline, long wheelbase, and even trunklet. Industry experts predict that the new RAV4 will be more aerodynamic, with a focus on higher efficiency similar to what we see in low-floor Toyotas like the 2023 Toyota Prius and Prius Prime.

The Future of the Toyota Camry

Meanwhile, rumors are also circulating about the 2024 redesign of the Toyota Camry. The current generation of the Camry, which was introduced in 2017 for the 2018 model year, has a strong reputation for being safe, simple, and reliable.

However, industry experts predict that the new Camry will be a complete redesign. The rumors suggest that Toyota will debut the ninth-generation Camry as early as 2024. This would mark a significant change in direction for the Camry, which has been a staple of the sedan segment for decades.

The Need for Change

The Camry's top competitors, such as the Honda Civic, have received substantial updates in recent years. As a result, Toyota will need to bring back consumer enthusiasm for the Camry by redesigning it with a new and exciting model.

According to industry experts, the 2024 Camry will be more than just a few updated safety features. It will need to feature a more aggressive design, including a wider body, cutting roofline, long wheelbase, and even trunklet. The new Camry is expected to be hybridized, with a powertrain similar to what we see in the current Camry's hybrid model.

Conclusion

The car life cycle can significantly impact its resale value, and understanding this concept is essential for making an informed decision when purchasing a vehicle. If you're considering purchasing a new car based on upcoming models, waiting a few months before buying may be the best option. On the other hand, if you're looking for a used car now, negotiating a better discount on an older model that preceded a certain redesign may be the way to go.

In any case, it's clear that the 2024 Toyota RAV4 and Camry will undergo significant changes in the coming months. Whether or not these updates will improve the cars' resale value remains to be seen, but one thing is for sure: these reliable cars are due for a redesign.

"WEBVTTKind: captionsLanguage: enthe rumor Mill's been flowing for weeks now I'm talking about rumors around the upcoming 2020 for Rav4 Toyota this is a crossover the Toyota debut with the 1994 model here in fact it was the first SUV to be built on the unibody platform making it among the first crossovers in the country and actually it pioneered the crossover segments well rumor now has it the Toyota is playing a major update for the 2024 RAV4 just in time for its 30th year birthday now not many people know this but the RAV4 is the best-selling compact crossover in the entire world in fact some versions of the RAV4 like the RAV4 Prime phev have waiting lists of over a year in some parts of the United States today we're looking at what major updates Toyota might bring to the 2024 model we're also looking at car life cycles and the difference between a facelift versus a redesigned versus an update we'll also talk about major changes coming with the 2024 Camry and whether you should get a 2023 model now or wait for the 2024 model to come come out so speculate about 2024 you first need to understand the current 2023 rep for analysts describe the 2023 design as aggressive and rugged so if Toyota wants to differentiate the 2024 model it's possible that it updated 2024 RAV4 might see a noticeably different design with lines possibly closer to the Toyota Sequoia if that's the case this means you'll probably see new headlights tail lights liftgate design larger Grille and an overall more squared off design also analysts speculate the updated 2024 RAV4 will be built on an upgraded version of the current Toyota new Global architecture K platform or tnga-k or short currently the 2023 RAV4 interior focuses on Simplicity and usability the central touchscreen is closer to the driver on the tier dashboard and the center console features large controls for the HVAC system next to the gear shift is the rav4's vehicle controls which makes practical sense speculations are that the overall interior for the 2024 model will likely Remain the same although we do expect to see an updated dashboard design and center console right now the 2023 RAV4 comes standard with an 8-inch touchscreen a seven inch digital instrument clusters audio speakers wireless Apple carplay and Android auto a Wi-Fi hotspot navigation three USB ports Bluetooth and a virtual assistant so it makes sense that the 2024 model will likely come up with even more Tech features some speculate the all-new RAV4 might be offered exclusively as a hybrid vehicle in a few words there's a possibility that there might not be a gas only option but others speculate that the 2024 RAV engine will stay the same the current RAV4 comes in three different powertrains the base model is a 2.5 liter four-cylinder that pumps out 203 horsepower and 184 pound-feet of torque the hybrid comes with a 2.5 liter four-cylinder engine that's paired with two electric motors that pump out 219 horsepower and the prime which is the plug-in hybrid version has a similar setup to the standard hybrid version except it has a larger battery pack the more powerful electric motors so it can pump out more horses 302 horsepower to be exact Toyota still hasn't confirmed anything concrete yet about the 2020 format but production is expected to begin this Autumn there's also no word yet about pricing but if you consider the current 2023 starts at 33 525 with the expectation that the 2024 model will Don some major updates while logic says the base price might be slightly higher but now let's talk a bit about car life cycles typically new cars get fully redesigned usually every five to seven years it basically comes down to the car maker and the vehicle segment in between those five to seven years cars are given facelifts around every three years or so so that they can remain looking fresh and appealing by the way did you know that the only car company that doesn't apply this general rule is Tesla that shouldn't be at all surprising since Tesla has a reputation for always doing things its own way the thing is Tesla doesn't use model years Tesla just updates its Vehicles whenever and however it wants to anyway aside from Tesla an average car's life cycle usually has three phases refresh facelift and redesign it's a no-brainer that consumers expect new features paint colors and options for every new model here a refresh is a sort of A step above that basically it's the usual expected updates plus minor exterior change for example we might see a revised front a rear bumper new lights new wheel design in general refreshes are pretty minimal changes on the other hand the purpose of a facelift is to keep the car looking modern and relevant it's like when a celebrity gets a cosmetic surgery or facelift the person doesn't change it's only his or her face for example that gets worked on to look younger similarly a car facelift is more of a visual or style change rather than mechanical the car usually retains the same engine a platform as before but you'll see significant stylistic change or heavily revised interior it'll be noticeably different and that's why facelifts are also sometimes called major updates once a vehicle facelift is announced it usually takes anywhere from 6 to 12 months for the new vehicles to hit the US market during that time car makers usually scramble to solve as many of its existing inventory as it can did you know that different car makers sometimes have their own ways to describe a facelifted model for example BMW uses an acronym LCI that stands for it life cycle impulse some car makers don't refer to face lifts as facelifts instead they opt to say it's just a in quotes new model eventually a car will get it redesigned when a car brand says it's redesigned one of its models basically it's like they recreated a completely new car it's a full ground up rework of the car I'm I can completely no exterior and interior features like a new chassis new suspension new brakes and a new engine but that's not all all that comes usually with a higher price tag too it's rare to see any substantial discounts or special offers on newly redesigned models especially since newly redesigned cars typically see much higher consumer demand than the older models they're replacing not many people realize this but car life cycles are actually important especially if you're in the market to buy a car trust me when I say you should pay attention to model site here's why if you got your eye on a specific car try to get an overview of where the car is in its life cycle in other words when the car was last refreshed got a face lifter was redesigned and what changes the industry speculates for the upcoming model based on the history and trajectory you'll have an idea whether it's better to wait a few months for a newer model or buy what's sitting in front of you now a car's life cycle can impact its resale value if you know that the car you're iron will be redesigned in the near future waiting for the newer version will improve your resale value a car's price typically doesn't change too much after a redesign but a new model will hold its value a lot better than an aging one that's soon to be replaced on the other hand if you're looking for a used car now you can try to negotiate a better discount on an older model that preceded a certain redesign for example by the way speaking of resale values in general you might assume that the RAV4 has a low resale value in general since there's so many RAV4s that are sold annually but actually you might be surprised they're the exact opposite demand for RAV4 remains high and used models usually command good prices on the used car market in fact the average rf4 retains some 56.5 percent of its value after the first five years of use meaning that the average RAV4 five-year depreciation rate is around 43.5 that's why it's among the lowest depreciating cars in the compact crossover segment let's say you're debating whether to get a 2023 RAV4 now or wait for the 2024 redesign well the 2023 RAV4 is in its fifth generation this generation was unveiled way back in 2018 for the 2019 model year seeing that most new vehicles are fully redesigned for five or seven years you can expect a redesigned ramp four probably will be for the 2024 model at the earliest or 2025 or 2026 at the latest now it's not just a Toyota RAV4 that's rumored to get a major change so is the Camry the current generation of the Camry that's available on the market first appeared all the way back in 2017 for the 2018 model year did you know that Toyota Camry is one of the few Romanian traditional families to dance still on the market even since competitors like Ford just discontinued their traditional four-door models normally news of upcoming Camry updates doesn't turn too many heads reason is the Camry has a strong reputation being safe simple and reliable now the 2024 Camry is expected to be a complete redesign Toyota hasn't yet made any official announcements but rumors suggests that we may see the start of the 9th generation Camry as early as the 2024 model if so then this is the perfect timing for a Camile redesign because it's long overdue the sedan segment of the car industry has gotten less exciting and it's overshadowed now by Crossovers and SUVs so if Toyota wants to bring back consumer enthusiasm for the Camry the car will need to stand out the only way to achieve this is to redesign it just look at the Camry's top competitors like the Honda Civic for example the Civic has better getting substantial updates so Toyota wants the Camry to compete the 2024 model needs to be more than just a few updated safety features Toyota needs to go bigger than that now Toyota hasn't yet released any official images of the 2024 Camry actually it hasn't even confirmed the Camry redesign but looking at the facts the major Camry redesigned in 2024 would really make sense after all Toyota gave the Prius a major facelift and rumors are already circulating about the major RAV4 update so far sneak peeks to this rendering of the 2024 Camry all point to an aggressive redesign I'm talking wide body cutting roofline long wheelbase and even trunklet is noticeably different the good old traditional Camry is going away industry experts also predict the all-new Camry to feature a more aerodynamic design for higher efficiency similar to what we already see in low floor Toyotas like the 2023 Toyota Prius 2023 Prius Prime and the 2023 Toyota Crown when it comes to engine design there's still no news but expectations are to likely be a hybrid probably hybridized 2.5 liter inline for this serves as a current Camry's hybrid powertrain anyway stay tuned for more information soon to come about the 2024 RAV4 and 2024 Camry in the months to come for now I'll tell you this even without solid information right now it's hard not to get excited about the major changes coming to these reliable cars but now you tell me what have you heard about the 2024 Toyota RAV4 or Camry do you think it's best to buy now or wait for the next redesign please share by commenting below if you like this video please like share and subscribe thanks for your supportthe rumor Mill's been flowing for weeks now I'm talking about rumors around the upcoming 2020 for Rav4 Toyota this is a crossover the Toyota debut with the 1994 model here in fact it was the first SUV to be built on the unibody platform making it among the first crossovers in the country and actually it pioneered the crossover segments well rumor now has it the Toyota is playing a major update for the 2024 RAV4 just in time for its 30th year birthday now not many people know this but the RAV4 is the best-selling compact crossover in the entire world in fact some versions of the RAV4 like the RAV4 Prime phev have waiting lists of over a year in some parts of the United States today we're looking at what major updates Toyota might bring to the 2024 model we're also looking at car life cycles and the difference between a facelift versus a redesigned versus an update we'll also talk about major changes coming with the 2024 Camry and whether you should get a 2023 model now or wait for the 2024 model to come come out so speculate about 2024 you first need to understand the current 2023 rep for analysts describe the 2023 design as aggressive and rugged so if Toyota wants to differentiate the 2024 model it's possible that it updated 2024 RAV4 might see a noticeably different design with lines possibly closer to the Toyota Sequoia if that's the case this means you'll probably see new headlights tail lights liftgate design larger Grille and an overall more squared off design also analysts speculate the updated 2024 RAV4 will be built on an upgraded version of the current Toyota new Global architecture K platform or tnga-k or short currently the 2023 RAV4 interior focuses on Simplicity and usability the central touchscreen is closer to the driver on the tier dashboard and the center console features large controls for the HVAC system next to the gear shift is the rav4's vehicle controls which makes practical sense speculations are that the overall interior for the 2024 model will likely Remain the same although we do expect to see an updated dashboard design and center console right now the 2023 RAV4 comes standard with an 8-inch touchscreen a seven inch digital instrument clusters audio speakers wireless Apple carplay and Android auto a Wi-Fi hotspot navigation three USB ports Bluetooth and a virtual assistant so it makes sense that the 2024 model will likely come up with even more Tech features some speculate the all-new RAV4 might be offered exclusively as a hybrid vehicle in a few words there's a possibility that there might not be a gas only option but others speculate that the 2024 RAV engine will stay the same the current RAV4 comes in three different powertrains the base model is a 2.5 liter four-cylinder that pumps out 203 horsepower and 184 pound-feet of torque the hybrid comes with a 2.5 liter four-cylinder engine that's paired with two electric motors that pump out 219 horsepower and the prime which is the plug-in hybrid version has a similar setup to the standard hybrid version except it has a larger battery pack the more powerful electric motors so it can pump out more horses 302 horsepower to be exact Toyota still hasn't confirmed anything concrete yet about the 2020 format but production is expected to begin this Autumn there's also no word yet about pricing but if you consider the current 2023 starts at 33 525 with the expectation that the 2024 model will Don some major updates while logic says the base price might be slightly higher but now let's talk a bit about car life cycles typically new cars get fully redesigned usually every five to seven years it basically comes down to the car maker and the vehicle segment in between those five to seven years cars are given facelifts around every three years or so so that they can remain looking fresh and appealing by the way did you know that the only car company that doesn't apply this general rule is Tesla that shouldn't be at all surprising since Tesla has a reputation for always doing things its own way the thing is Tesla doesn't use model years Tesla just updates its Vehicles whenever and however it wants to anyway aside from Tesla an average car's life cycle usually has three phases refresh facelift and redesign it's a no-brainer that consumers expect new features paint colors and options for every new model here a refresh is a sort of A step above that basically it's the usual expected updates plus minor exterior change for example we might see a revised front a rear bumper new lights new wheel design in general refreshes are pretty minimal changes on the other hand the purpose of a facelift is to keep the car looking modern and relevant it's like when a celebrity gets a cosmetic surgery or facelift the person doesn't change it's only his or her face for example that gets worked on to look younger similarly a car facelift is more of a visual or style change rather than mechanical the car usually retains the same engine a platform as before but you'll see significant stylistic change or heavily revised interior it'll be noticeably different and that's why facelifts are also sometimes called major updates once a vehicle facelift is announced it usually takes anywhere from 6 to 12 months for the new vehicles to hit the US market during that time car makers usually scramble to solve as many of its existing inventory as it can did you know that different car makers sometimes have their own ways to describe a facelifted model for example BMW uses an acronym LCI that stands for it life cycle impulse some car makers don't refer to face lifts as facelifts instead they opt to say it's just a in quotes new model eventually a car will get it redesigned when a car brand says it's redesigned one of its models basically it's like they recreated a completely new car it's a full ground up rework of the car I'm I can completely no exterior and interior features like a new chassis new suspension new brakes and a new engine but that's not all all that comes usually with a higher price tag too it's rare to see any substantial discounts or special offers on newly redesigned models especially since newly redesigned cars typically see much higher consumer demand than the older models they're replacing not many people realize this but car life cycles are actually important especially if you're in the market to buy a car trust me when I say you should pay attention to model site here's why if you got your eye on a specific car try to get an overview of where the car is in its life cycle in other words when the car was last refreshed got a face lifter was redesigned and what changes the industry speculates for the upcoming model based on the history and trajectory you'll have an idea whether it's better to wait a few months for a newer model or buy what's sitting in front of you now a car's life cycle can impact its resale value if you know that the car you're iron will be redesigned in the near future waiting for the newer version will improve your resale value a car's price typically doesn't change too much after a redesign but a new model will hold its value a lot better than an aging one that's soon to be replaced on the other hand if you're looking for a used car now you can try to negotiate a better discount on an older model that preceded a certain redesign for example by the way speaking of resale values in general you might assume that the RAV4 has a low resale value in general since there's so many RAV4s that are sold annually but actually you might be surprised they're the exact opposite demand for RAV4 remains high and used models usually command good prices on the used car market in fact the average rf4 retains some 56.5 percent of its value after the first five years of use meaning that the average RAV4 five-year depreciation rate is around 43.5 that's why it's among the lowest depreciating cars in the compact crossover segment let's say you're debating whether to get a 2023 RAV4 now or wait for the 2024 redesign well the 2023 RAV4 is in its fifth generation this generation was unveiled way back in 2018 for the 2019 model year seeing that most new vehicles are fully redesigned for five or seven years you can expect a redesigned ramp four probably will be for the 2024 model at the earliest or 2025 or 2026 at the latest now it's not just a Toyota RAV4 that's rumored to get a major change so is the Camry the current generation of the Camry that's available on the market first appeared all the way back in 2017 for the 2018 model year did you know that Toyota Camry is one of the few Romanian traditional families to dance still on the market even since competitors like Ford just discontinued their traditional four-door models normally news of upcoming Camry updates doesn't turn too many heads reason is the Camry has a strong reputation being safe simple and reliable now the 2024 Camry is expected to be a complete redesign Toyota hasn't yet made any official announcements but rumors suggests that we may see the start of the 9th generation Camry as early as the 2024 model if so then this is the perfect timing for a Camile redesign because it's long overdue the sedan segment of the car industry has gotten less exciting and it's overshadowed now by Crossovers and SUVs so if Toyota wants to bring back consumer enthusiasm for the Camry the car will need to stand out the only way to achieve this is to redesign it just look at the Camry's top competitors like the Honda Civic for example the Civic has better getting substantial updates so Toyota wants the Camry to compete the 2024 model needs to be more than just a few updated safety features Toyota needs to go bigger than that now Toyota hasn't yet released any official images of the 2024 Camry actually it hasn't even confirmed the Camry redesign but looking at the facts the major Camry redesigned in 2024 would really make sense after all Toyota gave the Prius a major facelift and rumors are already circulating about the major RAV4 update so far sneak peeks to this rendering of the 2024 Camry all point to an aggressive redesign I'm talking wide body cutting roofline long wheelbase and even trunklet is noticeably different the good old traditional Camry is going away industry experts also predict the all-new Camry to feature a more aerodynamic design for higher efficiency similar to what we already see in low floor Toyotas like the 2023 Toyota Prius 2023 Prius Prime and the 2023 Toyota Crown when it comes to engine design there's still no news but expectations are to likely be a hybrid probably hybridized 2.5 liter inline for this serves as a current Camry's hybrid powertrain anyway stay tuned for more information soon to come about the 2024 RAV4 and 2024 Camry in the months to come for now I'll tell you this even without solid information right now it's hard not to get excited about the major changes coming to these reliable cars but now you tell me what have you heard about the 2024 Toyota RAV4 or Camry do you think it's best to buy now or wait for the next redesign please share by commenting below if you like this video please like share and subscribe thanks for your support\n"