Imagine paying nearly $90,000 for a SUV, only to watch its value plummet over time. That's the reality for many owners of the 2021 Toyota Land Cruiser, a vehicle that holds a special place in automotive history. But here's where it gets controversial: despite its iconic status, the Land Cruiser's depreciation story isn't as straightforward as you might think.
Toyota's Land Cruiser has been a symbol of rugged reliability for over seven decades, evolving from its humble beginnings as a Japanese interpretation of the Jeep CJ into a full-sized, luxury SUV. The 2021 model year stands out as the final iteration of the eighth generation, boasting a V8 engine and a three-row cabin—features that were phased out in the 2024 redesign in favor of a retro-inspired, hybrid four-cylinder model. This transition has made the 2021 Land Cruiser a sought-after collector's item for enthusiasts.
But here's the catch: while depreciation estimates suggest a 35% drop in value over five years, the real-world market tells a different story. Used car shoppers hoping to snag a deal might be surprised to find that prices remain stubbornly high. To understand why, we dove into CarEdge data and compared it with similar SUVs like the 2021 Nissan Armada and Chevrolet Tahoe, both body-on-frame V8 competitors. Additionally, we analyzed retail listings to uncover the true selling prices of the 2021 Land Cruiser.
According to CarEdge, a 2021 Land Cruiser is projected to lose 35.4% of its original MSRP of $87,030 over five years, leaving it with a resale value of around $56,200. Interestingly, this is just slightly below the base price of the 2025 Land Cruiser, which starts at $56,700. However, real-world listings on platforms like Autotrader and CarGurus paint a different picture. Well-maintained examples with average mileage are still commanding prices between $74,000 and $80,000, while high-mileage models dip into the mid-$60,000 range—far above the estimated depreciation.
And this is the part most people miss: Toyota only sold 3,711 Land Cruisers in 2021, making it a rare find in the used market. This scarcity could explain why prices remain higher than expected. Looking further ahead, CarEdge predicts a 44.7% depreciation over seven years and 54.2% over a decade, but only time will tell if these forecasts hold true.
When compared to its competitors, the Land Cruiser's depreciation rate of 35.4% is relatively modest. Toyota's overall 2021 depreciation rate stands at 32.1%, while the Chevrolet Tahoe and Nissan Armada fare worse, with five-year depreciation rates of 52% and 66.2%, respectively. The Armada, in particular, aligns with its platform mate, the Infiniti QX80, which is notorious for rapid depreciation. By year 10, the Armada is estimated to lose a staggering 77.5% of its original value.
So, here's the burning question: Is the 2021 Toyota Land Cruiser a smart buy for those seeking a reliable SUV with potential long-term value, or is its high resale price a bubble waiting to burst? Let us know your thoughts in the comments—do you think the Land Cruiser's iconic status will continue to defy depreciation trends, or will it eventually align with market predictions?
