Vehicle Lease Report: Toyota RAV4 – A Lease-Take-Over Favourite

The Toyota RAV4 has earned its status as one of the most sought-after vehicles on the lease-transfer market, consistently ranking among the fastest sellers on LeaseBusters. Even with higher lease payment rates today compared to previous years, the RAV4 remains a competitive choice within the popular compact SUV segment, where it faces a formidable list of rivals. LeaseBusters buyers can find a broad spectrum of RAV4 payment options, ranging from $485 to $685 per month, reflecting Toyota’s diverse model lineup. This wide payment range makes perfect sense considering the $14,000 price gap between the entry-level LE and the top-tier Limited trim.

Inventory Challenges

Since the onset of the global new car inventory shortage in early 2021, Toyota Canada, and the RAV4 in particular, have faced significant inventory constraints. Popular hybrid variants of the RAV4 became factory-order-only options, with buyers waiting up to a year for delivery in some cases. Although the shortage finally ended around the last quarter of 2023, it left lasting effects on vehicle pricing and availability. The limited supply and absence of incentives, coupled with rising interest rates, have kept RAV4 lease payments historically high. However, this hasn’t deterred Canadians, who remain eager to get behind the wheel of a RAV4, continuing Toyota’s strong foothold in the market. LeaseBusters buyers echo this trend, demonstrating a similar enthusiasm for the RAV4 and other Toyota models.

Toyota still all about quality

The Toyota RAV4’s appeal stems from more than just its practicality. Toyota’s enduring reputation for quality is bolstered by their use of top-grade materials, superior engineering, and cutting-edge manufacturing facilities. The dedication of Toyota’s workforce to producing reliable vehicles is evident across their lineup, helping to sustain high demand despite elevated lease prices. Although the RAV4 received a “good” rating of 7.7 from the automotive review site Edmunds.com, slightly below some of its competitors, its popularity remains robust. This is a prime example of the phenomenon where a vehicle’s sales success outpaces its critical rating, showcasing that consumer loyalty and real-world dependability can outweigh review scores.