The new site calculates the total cost of ownership of a particular model by assessing the key variables which affect annual running costs, including depreciation, road tax, NCT costs, servicing costs, fuel consumption and insurance ratings. The site calculates the annual running costs of a vehicle, as well as calculating how much the owner could save by switching to a comparable new Toyota model and comparing the cost of running the Toyota model versus similar competitor models. The biggest cost to owning a new car is depreciation and Toyota has the best overall resale value of any car brand.

Michael Gaynor, Marketing Director, Toyota Ireland said:

“Our site Upgrade.ie aims to equip consumers with the information they need in order to see the true cost of owning their vehicle and see what they can save by upgrading to a new Toyota. Sometimes consumers may think they are saving money by purchasing a used vehicle, but that is a false economy. We want to encourage consumers to look beyond by the sticker price of a vehicle and factor in the total cost of ownership. The biggest cost to owning a new car is depreciation.”