First time car buyer

Toyota Truck, SUV and Vans Forum Toyota Highlander
1

28M. I just started a new career about 6 months ago, bringing home about $10,000/month after taxes. I’m thinking of buying my first car, which I’ve decided will be a Toyota Highlander.

Currently, I drive a 2011 Toyota RAV4 with 186,000 miles that I’ve been borrowing from my dad. I love my father; he’s helped me in so many ways, but I want to take steps toward being financially independent. I’ve always wanted to buy my first car and have been waiting to finish school and work.

Any advice on what year, trim, mileage, how much to put down, loan/interest rates, things to avoid, or general tips?

Thank you!

2

Great choice! I recently bought a used 2022 Highlander a few months ago. I suggest aiming for a used car.

The best thing you can do is go to Kelly Blue Book, check the fair valuation for the year and model you want. For me, it was $28,000. Search online for a place near that price and try to haggle it down if you can. Buying used avoids the depreciation a new car loses when you drive it off the lot. Think about your needs: if you might go camping and need to tow, consider a V6 model. Do you have snow? An AWD trim version might be best. I wouldn’t get a hybrid, but if you do, make sure it has a warranty for under 100k miles. For mileage, generally aim for 10-12k per year if you’re going used.

Try to aim for 7% or less on interest, and put down what you feel comfortable with.

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@Leander
Hybrids are more reliable than the 6-cylinder models and offer better MPG.

4

charry said:
@Leander
Hybrids are more reliable than the 6-cylinder models and offer better MPG.

It’s all personal preference. At the rate Toyota is going, my next vehicle will likely be hybrid anyway, so I’m not against it.

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Save as much as you can for at least 6 months before buying, which should give you several thousand for your down payment.

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Get a 2022 with the V6! I recently got one and love it.

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I have a RAV4 hybrid from 25. It doesn’t sound like you need the size of a Highlander.

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Get a couple of years old one with lower miles and the V6 engine. My wife has a 2022 V6 Highlander; it gets 20+ mpg and works great.

9

I’ve owned several Toyotas. From experience, if you just drive around the city, you don’t need a TRD PRO with mud tires that get 15 mpg. They look cool, but my next purchase will probably be a hybrid Camry that gets 50 mpg and 650 miles per tank.

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Do you plan to keep it and drive it until it won’t go anymore? If so, consider buying new. I have a 23 XLE Bronze Highlander, which has many of the same options as the Limited and Platinum but is less expensive. When I first looked, I found a lot of used ones with 20-50,000 miles for not much less than a new one. The XLE comes with 18" wheels and tires, which seem to get better MPG than the 20’s.

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@Broderick
I was thinking of a used XSE with less than 45,000 miles.

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Ciel said:
@Broderick
I was thinking of a used XSE with less than 45,000 miles.

Honestly, the front styling of the XSE is a lot cooler than the other trims. Just make sure you get the year and options you want.

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Look at Navy Federal Credit Union for car loan rates. Don’t deal with the finance people at the dealership.

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Unless you often have large amounts of cargo or need to transport many people, I’d suggest going smaller. I have a 2014 Platinum AWD with 155K miles that will likely be my son’s first car. They’re dependable vehicles. You can get the features of newer models on a smaller platform like the RAV4 and save several thousand dollars. Best of luck with your decision!