We’ve written plenty of articles comparing depreciated luxury or sports cars to brand-new mainstream models, but it’s not always as simple as saying “they cost the same, so buy the cooler one.” In the Lincoln Aviator’s case, data aligns so that a two-year-old example can cost about the same amount as a higher-trim Toyota Highlander.
There’s the usual case of Toyota reliability vs Lincoln luxury and comfort that we’ll discuss in detail later. However, when deciding between a relatively new luxury car and a new affordable family car, your decision might be between personalities — not specs. Would you rather feel like Mathew McConaughey in a commercial, or tone it down to blend in with the rest of the school pickup line?
All specs have been pulled directly from the manufacturers. New prices are correct at the time of writing, and exclude destination, options, incentives, taxes, and potential dealer fees. Used car values vary depending on location, condition, mileage, and many more factors; the used prices quoted in this article may not reflect your location’s market.
The Lincoln Aviator Depreciates Quickly
2020 Lincoln Aviator from the front three-quarter angleLincoln
Even though this article’s title focuses on models that are two years old, most sources track vehicles’ depreciation in three or five-year increments. That said, CarEdge is a dependable source that has data showing how the Lincoln Aviator loses about 58% of its value after its first five years on the road. CarEdge also explains how the total cost to own an Aviator for five years (including factors like depreciation, insurance, loan interest, fuel, and maintenance) comes out to $88,193.
Kelley Blue Book’s data varies by trim level; the Black Label trim is estimated to cost owners $89,714 over five years, so the two sources generally agree. CarEdge says $41,942 of that total cost can be attributed to depreciation, which aligns with KBB’s $41,749 estimate.
Now let’s move onto what used Aviators are actually going for these days. Two years ago would be the 2024 model year — according to CarBuzz’ own price trends data, a 2024 Aviator Black Label currently has an average price of $60,788, while the Premiere base trim has an average value of $45,067. KBB prices them a little lower: the 2024 Aviator Premiere’s fair purchase price rests at $38,000, and the Black Label is at $56,600, which places the most luxurious trim at almost exactly the cost of a new Highlander Hybrid Platinum.
Toyotas Are Notorious For Holding Value
2026 Toyota Highlander front 3/4 angle in red while drivingToyota
Even though we’re mainly discussing the new Highlander, it’s good to know what you’re getting yourself into when buying any new car. Toyota models in general tend to hold value better than any other mainstream brand; CarEdge’s data shows Toyota, as a brand, holding 64.9% of its value after five years. The Highlander, in particular, manages to retain 63.7% of its value after five years, according to iSeeCars (meaning it depreciates by 36.3% after five years). CarEdge’s data is slightly different, since it says the model could lose an average of 40% in the same timeframe — we would split the difference at roughly 38% depreciation for simplicity.
That said, the new Highlander’s pricing isn’t too bad for a family SUV. The model can be split into two variants, including those with gas-only engines and those with hybrid systems. The regular Highlander starts at $46,270 for the XLE trim level, then tops out at $53,925 for the Platinum trim before destination and options. The hybrid trims start at $48,020 for the Hybrid XLE, then top out with the Hybrid Platinum at $55,675.
Lincoln’s Aviator Reliability Is Just… Average
2020 Lincoln Aviator from the side in gray while parkedLincoln
It’s easy enough to let you know that luxury cars tend to depreciate more quickly than mainstream models, but there are a few specific reasons we want to get into. Firstly, the Aviator isn’t quite as reliable as the Highlander. This generation of Aviator began in the 2020 model year. That gives us enough data from owner complaints to the NHTSA and Car Complaints, recalls, and the model’s maintenance costs to determine just how reliable it really is.
The 2024 model year is proving to be a great option so far, with five customer complaints. However, it already has seven recalls, according to the NHTSA. On that note, the 2020 model year has 28 recalls recorded on the NHTSA’s website, followed by 27, 20, and 15 recalls for each subsequent model year. There might not be too many customer complaints, but the Aviator isn’t perfect.
iSeeCars gave the Aviator a reliability score of 6.7 out of 10, which ranks it in 11th out of 17 large luxury SUVs. That said, CarEdge says the Aviator will cost owners about $3,966 in maintenance and repairs over its first five years on the road. It’s technically not as expensive as other luxury SUVs, since it comes in at $2,494 less than average.
The Highlander Does What Toyotas Do Best
2020 – 2025 Toyota Highlander Hybrid side angle in gray while parkedToyota
The Highlander is currently in its fourth generation. While some of its earlier model years suffered from more serious problems, the fourth-gen is very reliable. It’s fairly common for the first year or two of any new generation or model to work through some kinks in its hardware or software. The 2023 and newer Highlanders have few complaints relative to the number of units sold, and those that do get reported aren’t usually too serious.
For more peace of mind, CarEdge explains how Highlander owners can expect to spend about $2,048 on maintenance and repairs over its first five years of service. RepairPal also shows that the Highlander costs about $489 per year to maintain on average, which is better than the $626/year for an Aviator.
Powertrains And Performance Figures Compared
2020 – 2025 Toyota Highlander Hybrid detail shot of the engine bayToyota
One thing the Aviator has going for it is its powertrain. Under the hood of all trim levels is a 3.0-liter twin-turbocharged V6 that makes 400 horsepower and 415 lb-ft of torque, which is sent to either the rear or all four wheels via a ten-speed automatic transmission. RWD models can sprint to 60 mph in about 5.4 seconds according to independent testing, although all versions are limited to a top speed of 145 mph. It’s not the most efficient, though. Examples with RWD drivetrains get an estimated 21 combined mpg, and AWD examples get 20 mpg.
The Highlander makes up for its lower power output with better fuel economy. Your first and cheapest option is to buy one with a 2.4L turbo inline-4 that makes 265 hp and 310 lb-ft of torque. It’s available with either FWD or AWD, and can sprint to 60 mph in about 7.2 seconds. Fortunately, this gas-only engine gets an estimated 25 mpg in a FWD configuration.
The 2.5-liter I4 hybrid system is less powerful, but more efficient. It offers a total of 243 horsepower, which gets sent to all four wheels via an eCVT for a 7.3-second 0-60 mph dash. Electric assistance helps it achieve 35 mpg across the board, though.
What’s On The Inside Matters Most
Lincoln Aviator Black Label Standard Features
2023-2024 Lincoln Aviator interior view of the front cabinLincoln
The Aviator was updated with a refreshed interior, among other changes, for the 2025 model year. The 2020–2024 Aviator was still more than luxurious enough, having offered options like 30-way adjustable front seats in the Black Label (that our road tester actually felt were difficult to configure).
“We sampled the optional 30-way adjustable seats with heating, ventilation, and massage. The seats weren’t as cushy as we expected and finding a comfortable position was no doddle. With so many ways for adjustment, it can be difficult to find the perfect setup so once you finally strike the ideal balance, be sure to save it on the memory settings. Trust us, you’ll never find it again.”
– Jared Rosenholtz, CarBuzz (2020 Lincoln Aviator First Drive Review)
An aspect of the Black Label trim that other trims don’t have is its unique interior themes. For 2024, Lincoln gave buyers a choice between the Flight, Destination, and Chalet themes that each use the same high quality materials in their own unique colorways and trim pieces. Other standard features in the 2024 Aviator Black Label include:
- 22-inch bright-machined aluminum wheels
- Unique Black Label upper grille
- LED fog lights and adaptive pixel LED headlights
- Heated steering wheel
- Heated VisoBlade wipers
- Active noise control
- Intelligent adaptive cruise control with speed sign recognition
Toyota Highlander Comfort And Luxury Features
2026 Toyota Highlander interior view of the front cabinToyota
Since the Aviator comes closest in price to the Highlander’s top trim level, it only makes sense to compare the Hybrid Platinum’s standard features. For over $55k, buyers can unlock 20-inch alloy wheels, a panoramic glass roof with a tilting/sliding moonroof, heated power side mirrors, and a panoramic view monitor and backup camera. On the inside, occupants will enjoy leather-trimmed front and second-row seats, heated and ventilated front seats, heated second-row seats, and a 10-inch color head-up display.
A More Difficult Decision Than You Might Imagine
2020 Lincoln Aviator rear 3/4 angle while drivingLincoln2026 Toyota Highlander rear 3/4 angle in red while drivingToyota
Choosing between two cars that cost about the same is a tougher decision than what meets the eye. For some people, looks alone would sway them to the Aviator. It’s a handsome family-hauler with quad-tip exhaust and an engine with enough power to feel comfortable overtaking left-lane campers on the freeway. However, it’s bound to cost more in maintenance in the long run. The Highlander is a little more basic in terms of styling and features, but you’d get away with spending less on maintenance.
A used Aviator has already passed its peak depreciation years, but hasn’t reached the bottom. That said, even though the Highlander holds value better, buying a new example means taking the full brunt of depreciation on your own. It’s not so easy a decision, at the end of the day.
Sources: Toyota, Lincoln, CarEdge, RepairPal, Kelley Blue Book, NHTSA, Car Complaints, iSeeCars
