Automotive

Most economical option?

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  • Aug 8th, 2020 10:15 am
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[OP]
Jr. Member
Nov 12, 2018
158 posts
152 upvotes

Most economical option?

Looking to buy a new or 1 or 2 year old vehicle. My main consideration is overall cost of ownership (Initial cost minus Residual value, fuel economy, maintenance, etc).

For specifics approx 20k km a year on the vehicle evenly mixed between city(commuting) and highway(road trips).

I was looking at the RAV4 hybrid however a phev is definitely interesting as I have the ability to charge at work (20km one way).

I live in Edmonton so really low to the ground cars are not preffered. Nothing smaller then a compact car or SUV.

Toyota seems like an obvious choice due to resale however I'm no expert. Thanks in advance.

Thanks hivemind!
5 replies
Deal Addict
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Jul 20, 2016
1134 posts
1146 upvotes
Toronto
RAV4 Prime is brand new and super hot (at least here in GTA) so will be hard to get a deal. If you're thinking about keeping the vehicle long term, it may be wise to stay away from any electrification to avoid battery complications.

Toyotas have good resale yes ... Hyundai / Kia have some of the most generous warranties which could be of interest if you're buying new.

If you want something that would depreciate very little ... Get a STI and keep it stock :D
[OP]
Jr. Member
Nov 12, 2018
158 posts
152 upvotes
Goose12345 wrote: RAV4 Prime is brand new and super hot (at least here in GTA) so will be hard to get a deal. If you're thinking about keeping the vehicle long term, it may be wise to stay away from any electrification to avoid battery complications.

Toyotas have good resale yes ... Hyundai / Kia have some of the most generous warranties which could be of interest if you're buying new.

If you want something that would depreciate very little ... Get a STI and keep it stock :D
RAV4 prime is 39k in the US so I imagine it will be mid 40s for us Canadians. With the regular hybrid at only 32k I don't think the upcharge makes it competitive price wise.

Hyundai and Kia don't have very good resale so I was thinking ploughing a couple dollars into the Toyota protection plan to extend the warranty out.

Sti isn't the best on fuel...
Deal Addict
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Jul 20, 2016
1134 posts
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Toronto
Sounds like you want a Toyota then .. Camry just got a facelift and the 4 cylinder has AWD. I'm in the camp of if you don't need a suv don't encourage them to make more lol

But if you do , new Highlander is quite a home run
Deal Fanatic
Sep 10, 2008
9732 posts
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Kitchener
DIY_Tanker wrote: RAV4 prime is 39k in the US so I imagine it will be mid 40s for us Canadians. With the regular hybrid at only 32k I don't think the upcharge makes it competitive price wise.
Completely different drivetrains. The Prime will cost significantly less money to the average driver over it's lifespan than the hybrid. They also will drive like completely different vehicles.

Thing is, the Prime is 100% sold out, so good luck getting your hands on one, Toyota is only allocating a few thousand vehicles because they anticipated no demand. Toyota has over and over shown their disdain for EVs and their love for Hydrogen.

They know they're getting absolutely killed in the hybrid space by Tesla, so their misleading marketing team now advertises "self charging hybrid electric vehicles", aka hybrids that run 100% on gas.

Honestly, the RAV4 Prime has very limited supply but has extremely high demand, it should retain value better than any vehicle in the Toyota lineup.

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