The true cost of owning a Toyota Highlander over 5 years typically ranges between $42,000 and $62,000. This includes purchase price, fuel, maintenance, insurance, taxes, and depreciation. Hybrid models may offer fuel savings that offset higher upfront costs.
Family First, Finances Second? The Real Cost of Owning a Toyota Highlander
Michael Kalamitsiotis
Published on: Apr 14, 2025
4 minutes
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The Importance of Choosing the Right Fuel for Your Vehicle: Why It Matters and How It Affects Your Auto WarrantyThe Toyota Highlander has earned its stripes as a family favorite, striking a balance between style, space, safety, and performance. But when you put your family first, how do the finances stack up? Whether you're considering a new Toyota Highlander, a used Toyota Highlander, or even the Toyota Highlander Hybrid, understanding the true cost of owning a Toyota Highlander is essential before you commit.
In this guide, we break down the Toyota Highlander cost of ownership, from sticker price and insurance to maintenance, depreciation, and hidden costs. We’ll also explore how the Highlander stacks up against competitors like the Honda Pilot, Kia Telluride, and Ford Explorer. Let’s dive into whether this midsize SUV really earns its spot as one of the best family SUVs in America.
Toyota Highlander Price: Starting the Journey
The MSRP of a new Toyota Highlander varies by trim level, engine, and features. Here's a quick breakdown of 2024 models:
| Trim | Starting MSRP |
|---|---|
| L | $39,120 |
| LE | $41,820 |
| XLE | $44,720 |
| XSE | $46,375 |
| Limited | $48,475 |
| Platinum | $52,620 |
| Hybrid LE | $42,320 |
| Hybrid XLE | $45,270 |
If you’re shopping for a used Toyota Highlander, prices will vary based on model year and mileage. A well-maintained 2020 Highlander might cost between $28,000–$35,000, depending on region and condition.
Highlander Trim Levels & Interior Features
Trim levels aren’t just about price—they impact long-term satisfaction. The Toyota Highlander interior evolves across trims from basic cloth seating to ventilated leather seats, panoramic moonroofs, and 12.3-inch touchscreens. Features like:
- Toyota Safety Sense™ 2.5+
- Apple CarPlay® & Android Auto™
- Tri-zone climate control
- Available rear-seat entertainment (ideal for families with kids)
- Heated second-row captain’s chairs (on Limited & above)
Toyota Highlander Reliability & Resale Value
Toyota Highlander reliability is one of its standout qualities. According to J.D. Power, the 2023 Highlander scores above average in dependability. It’s no surprise the Toyota Highlander resale value is strong—vehicles routinely retain 60–65% of their value after 3 years.
Resale Value After 5 Years:
Toyota Highlander: 58%
Ford Explorer: 48%
Honda Pilot: 52%
Source: CarEdge
Toyota Highlander Gas Mileage & Hybrid Option
If fuel economy is a family priority, the Toyota Highlander Hybrid shines:
| Model | MPG (City/Highway/Combined) |
|---|---|
| Gas V6 | 22 / 29 / 25 |
| Hybrid | 36 / 35 / 36 |
Over 5 years, that’s a potential fuel savings of $3,000–$4,500 compared to traditional engines.
🔋 Toyota Highlander Hybrid Cost: Starting at $42,320
🔋 Is it worth it? If you drive long distances or value eco-friendliness, the hybrid quickly pays off.
Toyota Highlander Maintenance Cost
Maintenance is a key part of the Toyota Highlander cost of ownership. While Toyota includes 2 years or 25,000 miles of complimentary maintenance, long-term costs still add up.
| Service | Average Cost |
|---|---|
| Oil change | $75–$120 |
| Brake pads | $250–$400 |
| Transmission service | $300–$500 |
| Annual maintenance | ~$500–$750/year |
Over 5 years, you can expect Toyota Highlander maintenance costs to average $3,000–$4,000.
Insurance Costs & Warranty Coverage
The Toyota Highlander insurance cost depends on driving history, location, and trim, but averages about $1,400–$1,700/year for full coverage.
What about warranty coverage?
Factory warranty includes:
- 3-year/36,000-mile basic coverage
- 5-year/60,000-mile powertrain
- Hybrid battery: 10 years/150,000 miles
Still, many families choose an extended vehicle service contract like those offered by Noble Quote for peace of mind beyond the factory coverage. Our plans cover hybrid components, infotainment systems, towing, rental reimbursement, and more.
Hidden & Long-Term Costs of Toyota Highlander Ownership
The true cost of owning a Toyota Highlander includes hidden expenses:
- Tire replacements: ~$900 every 3–4 years
- Alignment & suspension wear (especially in AWD)
- Higher insurance for teens using the vehicle
- Technology updates and out-of-warranty repairs
Over 5 years, the total cost of Toyota Highlander ownership can range from $42,000–$62,000 depending on mileage, trim, fuel choice, and resale value.
Toyota Highlander Towing, Cargo & Road-Trip Comfort
Families love the Highlander for long trips thanks to:
- Towing capacity: 3,500–5,000 lbs
- Cargo space: 16–84.3 cubic feet with seats down
- Third-row seating: fits up to 8
- Optional rear entertainment system for kids
Perfect for hauling gear, hitting the lake, or hauling a pop-up camper.
Toyota Highlander vs. Competitors
Toyota Highlander vs Honda Pilot
- Highlander: Better MPG, Hybrid option
- Pilot: More cargo with seats up
Toyota Highlander vs Kia Telluride
- Telluride: More luxurious feel
- Highlander: Better reliability + hybrid efficiency
Toyota Highlander vs Ford Explorer
- Explorer: More engine options
- Highlander: Lower maintenance cost + better resale
Is the Toyota Highlander Worth It for Families?
If you need a family SUV with third-row seating, stellar safety ratings, solid MPG, and high resale value, the Toyota Highlander is a top-tier choice. Just be sure to budget realistically for insurance, maintenance, and tech repairs down the line.
Ready to protect your investment? Noble Quote offers affordable coverage designed for families just like yours.
Toyota Highlander Ownership Costs: Your Top Questions Answered
What is the true cost of owning a Toyota Highlander?
How much does it cost to maintain a Toyota Highlander annually?
Annual maintenance costs for a Toyota Highlander range from $500 to $750 on average. Over five years, expect to spend around $3,000 to $4,000 depending on your driving habits and whether you follow scheduled services.
What’s the average insurance cost for a Toyota Highlander?
Families can expect to pay about $1,400 to $1,700 per year for full-coverage auto insurance on a Toyota Highlander. Rates vary based on driver age, location, and the Highlander’s trim level or hybrid model.
Is the Toyota Highlander a good SUV for families with kids?
Yes, the Toyota Highlander is considered one of the best SUVs for families. It offers third-row seating, advanced safety features, high reliability scores, and tech options like entertainment systems and multiple USB ports.
How reliable is the Toyota Highlander for long-term ownership?
The Toyota Highlander is highly reliable and often lasts well beyond 200,000 miles with proper maintenance. It consistently scores above average in dependability studies from J.D. Power and Consumer Reports.
How fuel-efficient is the Toyota Highlander Hybrid compared to the gas version?
The Toyota Highlander Hybrid gets up to 36 MPG combined, while the gas version averages around 25 MPG. Over 5 years, the hybrid can save you $3,000–$4,500 in fuel costs, making it a smart option for frequent drivers.
Does the Toyota Highlander hold its value over time?
Yes, the Highlander has excellent resale value. After 5 years, it retains around 58% of its original value—outperforming many competitors like the Ford Explorer or Chevrolet Traverse.
What are the hidden costs of Toyota Highlander ownership?
Hidden costs can include tire replacement (~$900 every 3–4 years), out-of-warranty tech repairs, alignment services, and higher insurance if a teen driver is added. Extended coverage can help reduce out-of-pocket expenses.
How does the Toyota Highlander compare to other SUVs like the Honda Pilot or Kia Telluride?
The Highlander stands out for its hybrid option, reliability, and resale value. The Honda Pilot offers slightly more third-row space, and the Kia Telluride delivers upscale styling—but both have lower fuel efficiency than the Highlander Hybrid.
Is an extended warranty worth it for a Toyota Highlander?
Yes, especially for families who plan to keep the SUV long-term or drive high mileage. Extended warranties like those from NobleQuote cover costly repairs beyond the factory warranty, including hybrid components, electronics, and roadside assistance.
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