vitz 2019 Resale ability of Toyta Vitz 2019 in about 4 years time

[Ranavir]

Would it be a good idea to buy a Toyota Vitz 2019? 

Now that Vitz has been discontinued and continued as Yaris, what will happen to the resale ability of the Vitz in about 4-5 years?

Thank you in advance!

[Crosswind]

This man doesn't have much business these days. U should ask him about the future... 

[HaeylM]

  On 7/7/2020 at 10:03 AM, Ranavir said:

Would it be a good idea to buy a Toyota Vitz 2019? 

Now that Vitz has been discontinued and continued as Yaris, what will happen to the resale ability of the Vitz in about 4-5 years?

Thank you in advance!

Expand  

Dude no one is a fortune teller but all i can say is that Toyotas have a market in sri lanka and has held up value pretty well over the past, but you do need to make up your mind on depreciation. 

2008-10 vitz cars go for around 2.5-2.7 mil and the newer ones post 2012 go around 3 mil and higher. Its a gamble to comment on the market value since some models do depreciate a lot more than others. specifically newer cars as they identify faults in it. for example the dct issue on the vezel has pushed its price to low 3.8 mil. Meanwhile the premio which is pretty much no different than an allion holds its value well, some people who bought it for 4.9-5 mil in 2010 can sell it with little to no depreciation in the current market. 

Expect to get a lot less than what you buy, but since vitz is a popular car in Sri Lanka you can expect to find buyers for it for the right price. When buying just make sure you get a good deal! 

[iRage]

  On 7/7/2020 at 10:03 AM, Ranavir said:

Would it be a good idea to buy a Toyota Vitz 2019? 

Now that Vitz has been discontinued and continued as Yaris, what will happen to the resale ability of the Vitz in about 4-5 years?

Thank you in advance!

Expand  

Models change all the time...an introduction of a new model of a car does not kill the previous model (in fact the Vitz was the Yaris..the car was called VItz only in Japan). What will kill the demand and resale-ability of the car is how well you take care of it. If you do not properly maintain it by servicing it and doing preemptive maintenance accordingly by using proper parts and labor..then your car is going to be a heap of junk. If you do not properly inspect the car when buying a buy a junker...again..you will have trouble reselling it. So...at the end of the day what makes a 2019 Vitz resale-able or not is dependent on you and not what Toyota does.

If you take care of the car and how much you will be able to ask for it would depend on whatever the prevailing tax structures, etc...for vehicle imports and usage of the country at the time you are selling it.

A few final points for you to think on:

- Cars are depreciating assets. Even if it has a Toyota badge...it depreciates...so ask for a reasonable price. As long as the price is reasonable for the status of the car..it will sell. I say this because owners of cars like the Vitz, Axio, Premio, Allion think their vehicles are better investments than gold and ask ridiculous prices.

- Obviously the new Yaris has newer technologies and a new platform that is far more exciting than the old Vitz. So..if your budget does allow it..try to purchase the newer model. Having said that....right now the prices of the new Yaris are a bit inflated because of the "new" factor. Delivery times for the car is 3-4months (last time I checked) and maybe even more now because of COVID-19. So people who are getting their cars early are selling them off at a premium. Same thing happens in Sri Lanka...the local car sales are hiking up the price just for its newness factor (also the fact that new imports might be severely restricted for the next year or so).

[matroska]

  On 7/7/2020 at 10:03 AM, Ranavir said:

Would it be a good idea to buy a Toyota Vitz 2019? 

Now that Vitz has been discontinued and continued as Yaris, what will happen to the resale ability of the Vitz in about 4-5 years?

Thank you in advance!

Expand  

In 2016 did any of us ever think there will be a total import stoppage and the world would come to a standstill for 6 months? Leave alone cars the way things are going will we be alive in 4 years? 4-5 years is too far down the line to make a prediction. Think of 4-5 years ago - Hybrids were killing it but now they're depreciating like crazy. Also if you observe current trends cars are no longer assets even the most coveted among Sri Lankans - Corollas and Allions and Premios will not go for crazy prices like they used to do. IF you're buying a car do not spend every cent on it so that it will HAVE to be an investment. Be prepared to lose money when you sell it - if you do make a profit that's a bonus. 

[Ranavir]

Thanks a lot for the ideas and the insight! ?

[gayanath]

Cars having low price tags (lets say below 3.5 million or so) depreciating slowly because there are prospective buyers (those who are willing to buy their first or second car). 

Eg: Still some Indian Alto's could sell with no or little depreciation

Higher the price higher the depreciation (because of less demand) - If, one could invest little bit higher, why he/she needs to buy a used one rather than going for a new car. 

Edited July 8, 2020 by gayanath