Australians love Toyotas, regularly putting the brand at the top of annual vehicle bestseller lists.1 Nevertheless, even the experts are stunned at the prices now being asked for used Toyota models, as Generation X revheads and fans of the Fast & Furious movie franchise enter the classic car market.
News Corp’s National Motoring Editor, Richard Blackburn, recently reported on the iconic used Toyota models that are selling for more than their brand-new equivalents. A 1998 Toyota Supra RZ manual with 90,000km on the clock recently listed on carsales.com.au for $150,0002 – an incredible $55,000 more than a brand new Supra (at the time of writing in October 2023, just over $94,000).3
Toyota originally revealed the iconic Supra in 1978 as a spin-off of the second-generation Celica coupé, but it was 2001’s hit film The Fast and the Furious that truly propelled the car’s popularity.4 So much so that in 2021 the orange Supra driven by the late Paul Walker in the movie sold at auction for US$550,000 (AU$733,000 at the time).5
“There’s a generation that has grown up watching The Fast and The Furious, and the cars were always out of reach when they were young. But now they can afford them,” Frank Cheney, Head of Classic Cars for Lloyds auctioneers told Blackburn.
“The new cars don’t connect with them because they don’t have the lineage to the movies. They’re not the same cars.”
Restored Toyota LandCruisers driving sky-high values
Another iconic Toyota making waves in Australia and around the world is the LandCruiser – a model that first hit Aussie roads in the 1960s.6
The current LandCruiser 300 GX model starts at $101,759,7 but in the United States, a restored and modified version of the 1988 Toyota LandCruiser 60 Series was recently valued at an astounding US$175,000 (just shy of AU$250,000 at the time).8
In Australia, carsales.com.au recently listed a 1982 LandCruiser LWB for $140,0009 and a 1984 model for $190,00010 – almost $90,000 more than the current model.
Veteran classic car investor, Mark Haybittle, said the appeal of classic cars from the 1980s and 1990s is that they “all have a story to tell”.
“If you look out the window now, everything you see on the road looks exactly the same,” he told Australian Associated Press. “They’re all white or silver. There’s no shape change, there’s no differentiation between cars these days.”11
Pop culture powering love for Toyota 86
The third Toyota model to inspire pop culture-fueled devotion is the Toyota 86, which features in the film F9 The Fast Saga and the animated series Initial D (inspired by the manga comic series of the same name).12
The current 86 was discontinued by Toyota in 2021,13 but has been replaced by the GR86 which, brand new, is going from $47,375.14 By comparison, the 2012 model is somewhat of a bargain in the classic car market with one recently listed on carsales.com.au for $38,950.15 An option for disappointed Supra fans, perhaps?
The other “new classics” you need to know
The 1999 Nissan Skyline is another “new classic” and, at the time of writing in October 2023, carsales.com.au had 16 listed, ranging from $11,900 to $198,200.16
While Nissan stopped importing the GT-R in Australia in late 2021,17 the brand’s current sports offering, the Nissan Z, currently starts from $82,395 for the Coupe model.18
Subaru’s WRX STI is another hot model with collectors, with a 1999 model listed on carsales.com.au for $155,000 at the time of writing in October 2023.19 By comparison, you can get your hands on Subaru’s current model WRX20 (they discontinued the STI model in 202221) from $50,889.
Purchasing insurance for classic cars
It’s no surprise that car enthusiasts want to protect their investment so, if you’re looking to insure one of the “new classics”, it makes sense to look carefully at what type of car insurance suits your needs, your car and your pocket.
The cost to insure your car may vary depending on a range of factors, including the particular model and its specifications, along with your individual circumstances.
If the “new classics” listed above are beyond your budget, you may have to settle for a new model. Youi’s Make and Model pages offer an estimate of how much it might cost to insure many cars with Youi. On the Toyota page, you’ll find estimates for both the Toyota Supra, Toyota 86 and the Toyota LandCruiser, and there are also pages for Nissan and Subaru.
Note: Information in this article is relevant as of October 2023 and by its nature will change over time. Check relevant vehicle manufacturer websites for price and specification updates if this information is important to you.
New vehicle prices are subject to change and are based on each manufacturer’s suggested retail price for the lowest-priced variant, quoted for postcode 2000, and may not include costs such as stamp duty, other government charges and options.
The information provided in this article is general in nature only and has been prepared without taking into account your particular financial needs, circumstances and objectives.
Article by guest writer Chelsea Spresser
1 Source: Toyota – Toyota Marks 25 Years as Australia’s Best-Selling Automotive Brand, 2022
2 Source: news.com.au – Old Toyota Supras worth more than the new one, 2023
3 Source: Toyota – Toyota GR Supra
4 Source: Toyota – History of the Toyota Supra, 2020
5 Source: Drive – Fast & Furious Toyota Supra movie car sets auction record, 2021
6 Source: Drive – A history of the Toyota LandCruiser – by the numbers, 2021
7 Source: Toyota – LandCruiser 300
8 Source: Drive – Feast your eyes on this glorious 1988 Toyota LandCruiser 60 Series restomod, 2021
9 Source: carsales – 1981 Toyota Landcruiser LWB Manual 4x4 , 25 October 2023
10 Source: carsales – 1984 Toyota Landcruiser LWB Manual 4x4 , 25 October 2023
11 Source: The West Australian – Classic car market booming in Australia, 2021
12 Source: IMDb – Initial D: First Stage
13 Source: Toyota – 86 – The iconic sports car lives on
14 Source: Toyota – Prices – GR86
15 Source: carsales – 2012 Toyota 86 GTS Manual , 25 October 2023
16 Source: carsales – Nissan Skyline 1999 Pricing & Specifications, 25 October 2023
17 Source: Drive – 2022 Nissan GT-R Price and Specs, 2021
18 Source: Nissan – Nissan Z Specs and Prices
19 Source: carsales – 1999 Subaru Impreza WRX STI Version 5 N Manual AWD MY99, 25 October 2023
20 Source: Subaru – Subaru WRX
21 Source: news.com.au – Subaru WRX STI axed in green push, 2022