3-year-old Toyota Land Cruiser in Vietnam is still more expensive than a new car when resold

(Dan Tri) - Lacking some equipment compared to the new version, the Toyota Land Cruiser 2021 still "holds its value" in the used car market.

Toyota Land Cruiser is considered a "hot" product in the Vietnamese automobile market, when supply often cannot meet demand. Surveys show that this large SUV model is rarely sold at the company's suggested price, since upgrading to a new generation in 2021.

Therefore, used Land Cruisers of the new generation (LC300) still attract the attention of Vietnamese customers. It is worth mentioning that although these cars are not brand new, the price is not cheap, even more expensive than new cars (listed at 4.26 billion VND).

The Toyota Land Cruiser in this article is an example when the car was manufactured in 2021, first registered in 2022, has traveled 59,000km. The car is being sold by a used car showroom in Hanoi for 4.59 billion VND.

Toyota Land Cruiser 3 năm tuổi tại Việt Nam bán lại vẫn đắt hơn xe mới - 1 — Toyota Land Cruiser in Vietnam, as well as most other markets, are imported completely from Japan, and supply often cannot meet demand (Photo: Luan Pham).

In 2021, the Toyota Land Cruiser had a listed price of 4.06 billion VND when it was first launched. This model immediately encountered a "price increase" of 500 million VND at the dealer, then continuously escalated and culminated in a "price increase" of up to 1.5 billion VND in 2022.

Assuming that the original owner of this 2021 Land Cruiser bought the car when the price was "inflated" by about 1 billion VND, after adding the registration fees, the total amount to be paid to roll will be 5.49 billion VND. Thus, after 2 years of use (first registration in 2022), the car depreciated by about 900 million VND.

Toyota Land Cruiser 3 năm tuổi tại Việt Nam bán lại vẫn đắt hơn xe mới - 2 — The car's interior is quite new, the wood panels are still shiny, but the leather on the steering wheel is a bit wrinkled (Photo: Luan Pham).

This is considered "holding the price" for a 4 billion VND car, manufactured in 2021.

In 2023, the Land Cruiser increased in price by 90 million VND in Vietnam. The car also has refinements when it is added with 20-inch alloy wheels, a head-up display (HUD), a safe parking brake and an air conditioner with an additional negative ion feature.

In the used car market, Toyota Land Cruiser models of the same 2021 model with fewer miles than the one in the article are being sold for higher prices, up to 4.7 billion VND. Even privately imported cars from the Middle East with the MBS package are priced up to nearly 7.4 billion VND.

Toyota Land Cruiser 3 năm tuổi tại Việt Nam bán lại vẫn đắt hơn xe mới - 3 — When it was first launched, the 2021 Toyota Land Cruiser only had 18-inch alloy wheels with a design that was considered not commensurate with the overall appearance of the vehicle (Photo: Luan Pham).

Experts explain that the high transfer price of Toyota Land Cruiser 2021 models is because new cars are being "channeled" for up to 700 million VND at dealerships. Even if paying more, users still have to wait, because this is only a fee to receive an early delivery slot. Meanwhile, if you buy a used car, you can use it immediately.

Earlier this year, Vietnamese customers who bought a Toyota Land Cruiser only received 1 key, instead of the usual 2, even though they agreed to pay hundreds of millions of dong more to own it.

The dealer said that at that time, the company was facing a shortage of blank keys, the remaining one was "owed" to the customer and would be paid later. The waiting time could be up to 6 months, according to some users.

Toyota Land Cruiser 3 năm tuổi tại Việt Nam bán lại vẫn đắt hơn xe mới - 4 — The 20-inch alloy wheels on genuine Toyota Land Cruisers manufactured from 2023 have the same design as the Middle East version (Photo: Pham Van Son).

The shortage and price hike not only happened with Toyota Land Cruiser but also appeared in the Land Cruiser Prado 2024 (LC250) model that was just launched in mid-October.

Immediately after the official price was announced at 3.46 billion VND, this car model was sold at a "difference" of 400-500 million VND at the dealer, with early deliveries.