Considering buying a new Canyon or Tacoma: resale and reliability?

I am considering these 2 trucks in higher-end double cab, 6 foot bed spec. Does anyone in the biz know how good initial reliability and resale has been on the Canyon? I suppose the Tacoma is too new to really have an opinion on.

I have been seriously considering upgrading my truck. I was looking at an access cab 3rd gen to replace my 2001 Access Cab 3.4L, but am now thinking I would rather go with a double cab. With that said, I mostly do highway driving with my truck, I have to carry a lot of stuff around, and it's also the family vehicle. Current truck was set up by the former owner with Tundra spec Bilsteins, a 2" lift, extra leaf springs, and it's a pretty stout ride. Shying away from a 1/2 ton as those trucks just feel massive coming from a 1st-Gen Tacoma. Not sure I want to deal with that down the line.


Driving both the Canyon and Tacoma, I prefer the former: it felt more refined and more like what my family would appreciate in a vehicle. My reservations are this, and probably the same as anyone's: reliability and resale value. My 3.4L has been absolutely bulletproof. Resale is far and away the best in the biz.

How will the Canyon compare to the Tacoma in those 2 aspects? I can put up with a bit less refined ride if it is a lower cost of ownership down the line. The plus on the Canyon is that they are showing up used with low mileage in loaded double cab SLT 6-foot bed trim low to mid 30's. Tacomas are too new for used discounts. I plan on keeping this truck for 7-10 years, till I get close to 200k on the odometer.

 

The Tacoma is number one in resale value retaining 60+% of its value after 5 years. Resale and reliability can't be beat IMO.

http://www.kbb.com/new-cars/best-resale-value-awards/best-resale-mid-size-pickup-truck/

http://www.bankrate.com/finance/auto/vehicles-with-best-resale-value-11.aspx

 

Can't beat Tacomas resale. It may not come in to play as much at 10 years. There may be a reason all of those GMs are getting traded in with low miles and probably not a good one.

 

A Chevy going 200k?

 

Yep. Just had an express van in with 917,000

 

My 2002 and 2005 Silverados are both on the road at over 300,000 miles each. I have a hard time knocking them.

That said, a guy at work traded in his 2007 (I think) Tacoma for a brand new Canyon diesel. Although he loves the newness of the Canyon and the diesel in general, he still thinks about his Tacoma. According to him, if Toyota offered a Tacoma diesel, it would have been a no-brainer.

I've sat in his Canyon, and I admit the fit and finish surprised me. However, the interior of both my second gen Tacomas still feel more securely built than the Canyon, and over the long haul the Tacoma will maintain a much better residual value.

 

Those diesels suck. No advantage over the V6 gas engine.

 

Shrug.

He likes it. Who am I to judge?

 

Look up the value of a 10 year old canyon, then look up the value of a 10 year old tacoma with the same mileage. I will bet the tacoma will be worth 2-3 times as much

 

Get a low mileage 2nd gen and roll on.

 

It's only a matter of time before he starts having DEF related problems. He'll be regretting that purchase and will never think about a diesel in a Tacoma again.

 

I wouldn't call this a fair comparison. GM has really gotten their crap together since the bailout. Considering the GM twins are a complete redesign, and the 3rd Gen taco has unproven drivetrain tech I wouldn't go around saying one will have better resale and reliability over the other. There simply isn't enough data to back it up.

 

Ok, look up a two year old one then.

GMs lose value much quicker than toyota, that's the point I was getting at. That $40k canyon will be worth 20K in 5 years. A 35k Tacoma will still be worth mid 20s in 5 years.

Go drive a $45k F150 off the lot and watch the value plummet $10k after a few months. It just doesn't happen with Toyota.

 

Wait till the new Ranger comes out?

 

Chevy / Taco .... Chevy / Taco.... ?

Test drive either??

When you do come on back and join the fun.

 

How is this even a comparison...

 

You wont beat Taco's resale.. hell... no mass produced truck or car holds it value better then the Taco.

But... if you own your truck for 10+ years, does resale really come into play?

 

Quality and resale = Tacoma
Not so much so the GM twins. I wouldn't touch a GM vehicle with a 10 metre stick.
But GM does love throwing cash on the hood to pawn off their vehicles.

 

Did you read his post? He drove both and prefers the Canyon...

It's no secret that the Taco rides rough, and is less refined than the other options.
Honestly, I would look at the Ridgeline. You do mainly highway driving and family hauling, you made no mention of off roading or serious towing.
The Ridgeline will give you a better ride than even the Canyon, and get you better gas mileage. It won't have a full 6ft bed, but the bed is wider than the others, and you do get the trunk for some weather proof storage.

There will probably be a ton of flack for this post, but get the right tool for the job. If you don't do any real off roading, why not get something more suited to your needs?
Everyone here calls it "girly" but in reality, it actually has a higher payload rating than the Taco.

 

I think its a legitimate contender for the OP to consider, their fit and finish is superb, plenty of ammemities and Hondas have also been known to hold resale value.