The new Toyota RAV4 just entered its latest generation, and it’s looking pretty snazzy. Still, before dropping $38,000 on the shiny, all-new sixth-generation model, open-minded shoppers might also want to consider a more upscale alternative for the same price. Specifically, a few-years-old Lexus NX with a few miles on the odometer. Below, we’ll stack this new-versus-used duo up side by side with price as the constant, and outline the key specs, metrics, ownership math, and expenses you need to know to make the best purchase decision possible.
The $38,000 Fork In The Road
2025 Lexus NX 350 F Sport driving front 3/4 angle in blackLexus
Here’s the situation you’re facing with your wallet: the 2026 Toyota RAV4 opens the bidding at $31,900 for the LE trim grade, with the $34,700 SE trim grade above it. From there, the XLE Premium ($36,100), Woodland ($39,900), and XSE ($41,300) grades bring us across the mid-30s and into the low 40s. The full-jam RAV4 Limited comes in from $43,300. All-Wheel Drive (AWD) is included on all RAV4 trim grades from Woodland and up, though it’s available optionally on all lower trim grades for an extra $1,400.
Readers counting along will note that this makes the line-wide average price of a 2026 Toyota RAV4 about $38,000.
All models have hybrid engines, specifically a 2.5-liter four-cylinder hybrid with 226–236 horsepower (226 hp for FWD; 236 hp for AWD). There’s no longer a RAV4 with straight-up combustion power, though the used Lexus in this comparison has you covered if that’s what you’re after. More on that in a moment.
2026 Toyota RAV4 core design front quarterToyota
The RAV4 Hybrid we’re covering here has no plug; its battery is recharged automatically while you drive around. If you’ve never driven a hybrid before, there’s nothing new to get used to: just put gas in the tank and drive.
For the 2026 model year, the RAV4 is in the first year of its sixth generation. The second and latest generation Lexus NX launched for the 2022 model year, after the original hit the road for 2015. The 2022 update brought the NX onto Toyota’s latest TNGA architecture, the same one that underpins the latest RAV4.
2026 Toyota RAV4 interiorToyota
The latest-generation Lexus NX is that model’s second, having originally debuted in 2015 and entering its second generation on the TNGA-K platform for the 2022 model year in the USA. Unlike the new RAV4’s all-hybrid lineup, the latest-generation NX (2022 onwards) offered a 2.5-liter naturally aspirated 4-cylinder with 203 hp, and a 2.4-liter turbocharged four-cylinder as the powered-up option with 275 ponies. A 239-hp hybrid was also available.
“Materials and build quality are boxes Lexus always ticks, and everything in the NX is up to standard, with the Lexus style we expect. All the bits and pieces feel substantial and once the car is moving, road noise is but a distant hum.”
– Ian Wright, Motor Journalist, CarBuzz
Sticking to this latest TNGA-K-underpinned version, used pricing in the same $38,000 ballpark as a brand-new RAV4 shows selection on numerous NXs, some of which still haven’t seen their first oil change. The naturally aspirated NX 250 can be had in a 2024 model year unit, virtually the same as the 2026 in showrooms today, for $38,000 or less with under 10,000 miles on the odometer. If you’re willing to add an extra model year or two, or a few thousand more miles, you’re handily into turbocharged power via the higher-performing turbocharged NX 350.
2025 Lexus NX 350 rear 3/4 angle in black while parkedLexus
We found an example in Pennsylvania with 11,128 miles listed for $38,384 and another in New Jersey with 11,315 miles for $38,228. On the lower end of the scale, second-generation Lexus NX models around $32,000 tend to have anywhere from 20,000 to 70,000 miles of former use, depending on the trim grade in question. In the low 30s, you might find an 18,000-mile NX 250 from 2024, a sporty 26,000-mile NX 350 F Sport from 2022, or a 50,000-mile NX 250 from 2023.
2025 Lexus NX 350 F Sport interior view of the steering wheel, infotainment screenLexus
Note that the last major update for the NX was its latest-generation launch for 2022. Year-over-year changes since have been trivial, and some model years were complete carryovers. For the shopper, this means the 2022 or newer model you’re considering from the used market is basically the same as the 2026 units on sale in showrooms today (complete with those additional delivery charges). Sporty shoppers note, the F Sport models were available from 2023 onwards.
The Lexus’ Warranty Clock Ticks A Bit More Slowly
2025 Lexus NX Hybrid ModelsLexus
There are some important numbers and metrics that play into this decision, and we should kick things off with a look at warranty coverage. That brand-new RAV4 you’re considering has its full warranty intact, including lengthy coverage of key hybrid components. On the other hand, the NX you’re considering has whatever portion of its original coverage remains.
2026 Toyota RAV4 New Vehicle Limited Warranty:
- Basic: 36 months / 36,000 miles
- Hybrid System: 96 months / 100,000 miles
- Hybrid Battery: 120 months / 150,000 miles
- Powertrain: 60 months / 60,000 miles
2023 Lexus NX New Vehicle Limited Warranty:
- Basic: 48 months / 50,000 miles
- Hybrid System: 96 months / 100,000 miles
- Hybrid Battery: 120 months / 150,000 miles
- Powertrain: 72 months / 70,000 miles
Note that the used NX and new RAV4 share hybrid warranty coverage, but the Lexus gets drivers an extra year’s worth of basic and powertrain coverage.
Crunching Gallons: Factor In The Five-Year Fuel Penalty
2026 Toyota RAV4 HEV hybridToyota
The engine you choose from this comparison can have a notable impact on your longer-term budget, and you’ll want to choose accordingly. Don’t worry, we’ve crunched the numbers to help you make the best choice possible if you’re leaning towards the NX.
Most 2026 Toyota RAV4 trim grades deliver 41 or 42 MPG combined, and all models use less fuel in the city than on the highway. Expect around 600 miles of range per tank, and annual fuel costs of around $1,500, according to EPA data. One exception is the more rugged Woodland Edition grade, with a 38 MPG combined rating taking your annual fuel costs up to $1,600 instead.
2026 Toyota RAV4 front 3/4Toyota
Using EPA data for the 2023 NX, we see a 28 MPG combined rating for the four-cylinder NX 250, good for around 400 miles of range and an annual fuel cost of $2,200. Compared to the brand-new RAV4, this NX will cost you an extra $700 per year. If you’ll keep either vehicle for five years, that’s a $3,500 implication worth consideration.
The NX 350h Hybrid does 39 MPG combined, for a range of 566 miles and an annual fuel cost of $1,950. Compared to the brand-new RAV4, going this route will cost you an extra $450 per year on fuel, a potential implication of $2,250 after five years.
2025 Lexus NX 350h ExteriorLexus
The NX 350, with turbocharged four-cylinder power, comes in at 25 MPG combined for an annual fuel bill of $3,050 and 362 miles of range. Compared to the new RAV4 option, choosing the NX 350 will cost you an extra $1,550 per year on fuel. After five years, this means the turbocharged punch of the NX 350 will cost you an extra $6,200 on fuel, at today’s fuel prices.
Depreciation Roulette: Which Option Comes With The Biggest Hit?
2026 Lexus NX 450h+ interior photo that shows the steering wheelLexus
Speaking of prices, there’s also the price you’ll pay to own a depreciating asset. With the help of some projections from CarEdge.com, we can illustrate how that might stack up over a five-year ownership experience with the following illustration.
Buying the brand-new RAV4 delivers the lowest out-of-pocket depreciation over the next five years, losing around $10,700 by its fifth birthday as it rides one of the shallowest depreciation curves in the business. Opting instead for a two-year-old NX means the original owner took an initial depreciation hit of about $17,000 already, so you’re off the hook.
Because it’s already two to three years older, an extra five years pushes that NX into higher-mileage territory, where CarEdge data shows it shedding roughly $15,500 in depreciation by the time it’s marked its fifth year in your service (now seven years old).
“So long as the price hasn’t suddenly skyrocketed beyond inflation, the Toyota RAV4 will continue to sell like it’s the greatest on Earth.”
– Jared Rosenholtz, Former CarBuzz Editor-at-Large
There are always nuances and edge cases, but choosing the NX in this comparison means you’ll likely be paying $4,000 to $6,000 in additional depreciation after five years, compared to the gleaming new RAV4, in exchange for a more premium badge, quieter cabin, and available turbo power. Readers may wish to use those five-year figures, as well as the five-year fuel cost comparison data before it, to help dial in their budgets more accurately.
If You’re Still On The Fence, Consider The Following…
Toyota
If you’re feeling a little on the fence, a look at the spec sheet might help shed some further light on your decision. Of course, the Lexus’ higher build quality, more premium materials, and knack for delivering a finely crafted feel don’t show up here, but some other important differences to the RAV4 just might.
First, age. The NX has been in production in its current form for five years, the RAV4, just one. Elsewhere, the spec sheet shows a clear winner in the RAV4 if you’re looking for maximum headroom, with the Toyota outperforming the Lexus by a practical margin in both front and rear (0.8 inches with a moonnroof present, 1.4 inches with no moonroof).
Legroom is tied up front, but the RAV4 delivers nearly two inches more in the back. Rear shoulder room in the NX is also particularly cramped compared to the RAV4, with the Lexus down on this dimension by 2.4 inches. The NX helps redeem itself with superior hip room measurements, however.
2026 Toyota RAV4 interiorJared Rosenholtz/CarBuzz/Valnet
You’ll also find more ground clearance in the RAV4, as well as notable improvements to cargo capacity in both seats-up and seats-folded configurations versus the NX. Is a trailer in your future? If so, the RAV4 boasts a 1,500-lb towing capacity advantage.
Combined with its more generous cargo metrics, the RAV4 should prove the more capable machine of the pair when it comes to adapting to the changing lifestyles of a growing family.
Base Trim Engine
2.5L Inline 4 Hybrid
Base Trim Transmission
CVT
Base Trim Drivetrain
Front-Wheel Drive
Base Trim Horsepower
183 HP @6000 RPM
Base Trim Torque
163 lb.-ft. @ 3600 RPM
Segment
Compact SUV
Sources: EPA, Toyota, Lexus, CarEdge
