Money Management

These Toyotas have excellent histories of reliability and could give you well over a decade of worry-free use. 

When iSeeCars.com conducted a study of the cars with the longest potential lifespan, Toyota was the clear winning brand, accounting for 10 of the top 20. Toyota has long been synonymous with reliability, so this isn’t a total surprise, but this is a pretty dominant showing.

I won’t keep you in suspense. Here are the 10 most reliable and cost-efficient Toyota vehicles you can buy today, according to the recent study on vehicle lifespans by iSeeCars.com.

1. Toyota Sequoia

Topping the list in the iSeeCars study was the Toyota Sequoia, with an expected lifespan of 296,509 miles. To put this into perspective, a Sequoia driver who puts 12,000 miles on their vehicle annually can expect it to last nearly 25 years. No vehicle lasts forever, but the Sequoia certainly seems like the next best thing.

2. Toyota Land Cruiser

The Land Cruiser has an expected lifespan of just over 280,000 miles, making it the second longest–lasting vehicle on the market. While the Land Cruiser was discontinued after the 2021 model year, its longevity makes it a solid candidate if you’re willing to consider a used vehicle.

3. Toyota Tundra

The popular Toyota Tundra pickup truck is the brand’s third longest–lasting vehicle, with an expected lifespan of about 256,000 miles. The Tundra comes in a variety of trim levels and specs that start at $37,865 and can exceed $76,000. This means there’s a model to fit most budgets and needs.

4. Toyota Prius

The Prius is not only a very economical vehicle to drive with an overall rating of 56 miles per gallon in base trim, but it’s also extremely reliable and has a relatively low cost to insure. In fact, with an expected lifespan of 250,601 miles, the Prius is the highest-ranking sedan of any manufacturer on iSeeCars’ list.

5. Toyota Avalon

Toyota’s full-size Avalon sedan is known for its comfort and luxury features, but it is also a highly reliable vehicle, with an expected lifespan of 245,710 miles. Like the Land Cruiser, the long-running Avalon has been discontinued, but it could still be an excellent choice for used car buyers.

6. Toyota Highlander Hybrid

The hybrid version of the Highlander can be expected to last nearly 245,000 miles, making it the sixth Toyota on the auto industry’s 10 most reliable list. It is also a relatively economical vehicle, especially for an SUV, with a combined EPA rating of 36 mpg.

7. Toyota 4Runner

Toyota’s rugged 4Runner SUV is one of the more reliable vehicles on the road, with an expected lifespan of 244,665 miles. The popular SUV is a favorite of drivers who want reliable daily transportation with more off-road capabilities than most other SUVs offer.

8. Toyota Sienna

The Sienna is an extremely durable vehicle and the most reliable minivan in the study, with the potential to last for 239,607 miles. The Sienna has been manufactured for a quarter century, and is one of the few true minivans still on the market, as many have been discontinued in favor of SUVs.

9. Toyota Tacoma

The Tacoma is a favorite of drivers who want a compact pickup truck, and not just for its versatility. The popular model has an expected lifespan of more than 235,000 miles. With a starting price tag of $27,750, it is also one of the more affordable options in the pickup truck market.

10. Toyota Camry Hybrid

The Camry is consistently on the best-sellers list in North America and has a well-earned reputation for providing reliable transportation as well as solid fuel economy. With an expected lifespan of more than 230,000 miles, the hybrid version of the Camry could be worth a closer look.

Will your Toyota last forever?

To be clear, this is a list that used an analysis of more than 2 million vehicles sold in the U.S., but it’s important to note that there’s no guarantee your vehicle will last as long. There are a bunch of different factors, such as whether you live in a harsh environment for vehicles, how gently or aggressively you drive, and how well you take care of your car. But based on real-world usage, these 10 Toyota models can give you many years of reliable transportation if you maintain them properly.

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If you don’t have cash put aside for an emergency, it’s easy to rely on a credit card. 

Emergency funds can be powerful tools in your financial arsenal. Having three to six months’ worth of living expenses in a savings account can cushion you against the unexpected. Whether that’s a job loss, a medical issue, or a house repair, there’s a certain power in knowing you’ll be able to handle it. Indeed, with a potential recession on the horizon, some financial gurus recommend putting even more aside.

Unfortunately, for some, the very idea of having an emergency fund can feel like a luxury.

A survey by Suze Orman’s SecureSave showed that 67% of Americans wouldn’t be able to cover a $400 emergency expense. Even before the sky high living costs we’re dealing with now, a lot of households found it hard to cover their essential bills, never mind save for something that might not happen.

If you’re in that boat, you may well think your credit card is a good backup that you could use in an emergency, even if you know it’s not ideal. Find out why Dave Ramsey is vehemently against this plan and whether he’s right.

Why Dave Ramsey says a credit card is not an emergency fund

Dave Ramsey is fanatical about avoiding debt, particularly the credit card variety. He’s also a big fan of emergency funds. “An emergency fund turns a crisis into an inconvenience,” he recently tweeted. The outspoken finance expert added, “PS – A credit card isn’t an emergency fund. It turns a crisis into an even bigger problem. The last thing you need during an emergency is more debt.”

He’s not wrong. Credit card debt can be a financial millstone that drags on your finances. The repayments eat into your monthly paychecks, leaving you less money for other things. On top of that, credit cards often come with high interest rates which can prove costly if you aren’t able to pay down the balance quickly.

There may be other issues too. Running a balance on your credit card can mean you’re using a big chunk of your available credit. This could impact your credit utilization ratio which can knock your credit score if it gets too high. On the other extreme, if you keep a card for a long time with a plan to only use it in an emergency, the card issuer may cancel the card or reduce your credit limit.

The trouble is that knowing about the dangers of using your credit card as an emergency fund isn’t a lot of help if it’s your only option.

Alternatives to credit cards in a crisis

If you don’t have cash on hand when life throws you a curveball, a credit card can solve the immediate problem. But it’s worth also considering alternatives and thinking about the best way to minimize the impact on your finances going forward.

Explore your options: Are there other ways you can access the cash you need? Perhaps there’s a friend or family member who might help, or you have a way to bring in some extra cash. Can you take on more hours at work, or sell unwanted items to avoid going into debt?Look at ways to reduce interest: Credit cards are not the only way to borrow money. If you can qualify for a personal loan with a lower rate, this may save you money in interest payments. Alternatively, see if you can qualify for a credit card with a 0% APR introductory period.

The no-shame approach to building your emergency savings

It often seems as if the world of personal finance is full of “shoulds.” We should spend less than we earn. We should put money aside for our old age. We should keep cash in a savings account in case there’s an emergency. That’s all very well, but most of those shoulds are easier said than done. And if you’re struggling to make ends meet, they can become overwhelming.

If you’re not facing a financial emergency right now, you still have time to build an emergency fund. Not because you should, but because you can see that it will strengthen your financial position and help you in the long run.

In terms of how much to save, think about what’s achievable. Be realistic — you don’t have to be a financial superhero and nobody can save thousands of dollars overnight. But perhaps you can start by putting $50 a month (or even $5 a week) into your savings. Have a look at what you spend and see if there’s anywhere you can cut back, even a little. If you consistently put even small amounts of cash into your rainy day fund, they will add up in time.

Bottom line

Credit cards are not your only choice in a financial emergency, though it is understandable that people see them as an option. The challenge is that leaning on your card can cost you more in the long run and potentially cause more financial difficulties if you can’t pay that money back. See if you can start stashing away some savings, even if it’s only a small amount. That way, you may be able to avoid having to take on debt if there’s a crisis.

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Hint: It’s not a small number. 

It’s hardly a secret that home prices and mortgage rates have been elevated for quite some time. That’s put a lot of strain on home buyers — and has forced many people to sit out the market and wait for home values and borrowing rates to come down.

Meanwhile, in February, the national median mortgage payment was $2,061, according to data from the Mortgage Bankers Association. That’s a notable uptick from the median mortgage payment of $1,964 in January.

February’s median mortgage payment is also up $408 from a year prior, which is the equivalent of an almost 25% increase. And that goes to show how higher mortgage rates are impacting borrowers today.

How much of a monthly mortgage payment can you afford?

You may be looking to buy a home that will come with a monthly mortgage payment around $2,061. Or your monthly payment might be a lot lower or a lot higher.

The fact that the median monthly mortgage payment is $2,061 shouldn’t really impact your home-buying plans too much. That’s because it doesn’t matter what the typical homeowner is paying. What matters more is what you can afford to pay.

As a general rule, your predictable housing costs, including your mortgage payments, homeowners insurance, property taxes, and HOA fees (if they apply in your case) should not exceed 30% of your take-home pay. Going beyond that limit might constitute a real financial strain and put you at risk of falling behind on your housing payments or other bills. But if you stick to that limit, you may be okay to take on a mortgage payment that’s higher than the national median.

READ MORE: 10 Expenses of Home Ownership You Need to Know

So, let’s say your monthly paycheck amounts to $7,000 after taxes and other deductions. That leaves you with $2,100 a month to spend on housing. In that situation, it’s fair to say that a monthly mortgage payment of $2,061 will not work for you. That’s because your property taxes and homeowners insurance costs are clearly going to be more than $39 a month.

However, if your paycheck amounts to $8,000 a month, that leaves you with $2,400 a month to spend on housing. It’s conceivable that a $2,061 mortgage payment might work for you if you’re buying in an area where property taxes are fairly low and homeowners insurance premiums are reasonable.

Crunch your own numbers

It’s easy to look at the median mortgage payment and use it as a basis for the type of home you should be buying. But rather than go that route, run your own numbers to make sure you’re not getting in over your head on a home purchase.

Even if you can technically swing housing costs that exceed 30% of your take-home pay, doing so might mean having to limit your spending on things like leisure, travel, and other luxuries that make life enjoyable. And the last thing you want is to regret your decision to buy a home because it forces you to cut back in pretty much every other area.

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It’s gotten really, really expensive to own a home. 

For months on end, many would-be buyers found themselves priced out of the housing market as home values soared. These days, home prices are starting to moderate, and home price gains have been slowing. But that doesn’t mean buying a home has suddenly become an affordable prospect.

In fact, a recent tweet by Redfin highlighted a pretty shocking statistic: The typical home buyer’s monthly payment recently hit an all-time high of $2,563. That’s an increase of 29% from a year ago. And it explains why for so many people, homeownership still isn’t within reach.

Expensive mortgage rates are negating other savings

For months on end, home prices seemed to be going nowhere but up. In recent months, they’ve begun to cool. But that’s not doing enough to solve the affordability crisis so many buyers are grappling with.

While home prices may not be as high these days, mortgage rates have been stuck in the 6% range for months. And because borrowing rates for mortgages are so much higher than they were a year ago, ultimately, buyers aren’t gaining anything with regard to affordability. Rather, they remain stuck in a holding pattern.

Can you afford to buy a home today?

In the context of housing, the word “affordable” can mean different things to different people. But as a general rule, it’s a good idea to keep your monthly housing costs to 30% of your take-home pay or less. If you stick to this limit, you may be less likely to fall behind on your mortgage payments or other bills. You might also be less likely to struggle financially or have to make extreme sacrifices to keep up with your housing payments.

RELATED: Mortgage Calculator

Now to be clear, when we talk about keeping housing costs to 30% of pay or less, that doesn’t just mean a mortgage payment. Rather, it means all predictable monthly housing expenses, from HOA fees (if applicable) to homeowners insurance premiums to property taxes.

You may be okay to go beyond that 30% limit if there’s another large expense you’re able to keep way down — for example, if you spend next to nothing on transportation because you live in a walkable city, don’t have a car, and rarely take the bus. But otherwise, it’s important to limit what you spend on housing so you don’t wind up falling behind on expenses and regretting your decision after the fact.

Will homes become more affordable?

In time, they’re apt to. Not only have home price gains been slipping, but at some point, mortgage rates are likely to drop below the 6% mark.

The problem is, we don’t know when that will happen. And even if home prices continue to trend lower, if mortgage rates remain stuck at their current level, or in that vicinity, buyers will, unfortunately, remain quite limited in their options.

Furthermore, while mortgage rates will likely fall from where they’re sitting today, the days of 3% mortgages may be long behind us. That’s something potential home buyers will need to come to terms with.

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Last year’s performance is laid out for you to examine. 

If you invest in a retirement program through a broker, you may have never made a specific investment decision. Many of us let the broker know when we hope to retire and how much risk we’re comfortable taking, and they take over the day-to-day decision-making.

But what if you wanted to invest on your own? How will you know whether a company is a good bet? The answer can be studying two financial statements: the income statement and balance sheet. Here are four factors to focus on.

1. Earnings

Ensure that a company’s earnings are at least 10% higher than they were the previous year. You want to invest in any company mainly because it’s making a profit, and you want to be part of its long-term success.

Putting money into a company that’s not making a profit is not investing; it’s speculating.

2. Sales

Sales numbers should also be higher than the year before. Chances are, if earnings are up, so are sales figures. But this is where your common sense is as important as any numbers.

Let’s say you’re looking at statements for a company that sells the latest, most popular kids’ toy on the market. Sales are up because everyone and their brother is willing to stand in line for one of these toys.

If common sense tells you that it’s another Beanie Baby or Cabbage Patch Doll and will one day go out of style, you know that any sales growth is temporary.

3. Debt

The debt a company carries should be lower or about the same as the previous year. In other words, you don’t want to invest in a company that owes more than it’s worth.

Let’s say a company has an annual revenue of $25 million, but carries $30 million in debt. Investing in this business means taking on partial responsibility for the debt. It’s also betting on the company’s ability to turn things around. Finally, you have to ask yourself about the wisdom of company leaders. Would you allow your personal finances to be so upside-down?

4. Return on equity

Return on equity (ROE) shows whether a company can turn equity investments into profit. It’s calculated by dividing a company’s annual net income by the value of shareholder’s equity.

You may (rightfully) ask what a “good” ROE would be, but the answer depends on the industry. Some industries end up with higher ROEs than others. So, if you’re looking into a candy company, you would want to avoid comparing its ROE with a brick-making company. Instead, compare it to another candy company.

Where to find financial statements

If a company’s stock is publicly traded in the U.S., it is legally required to file a public financial disclosure. These statements are on the Securities and Exchange Commission (SEC) website. You can also typically find the statements on the company’s investor relations page.

Investing is ultimately about making your bank account larger and your future more secure. Diving into financial statements before taking the leap is no guarantee of success, but it will increase your odds.

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My teeth hurt just reading this list. 

Trader Joe’s is a popular grocery chain, known for both its yummy store brand items and its budget-friendly prices. It’s always nice when you can make your stomach and your finances happy at the same time!

One of the things that keeps Trader Joe’s so popular is that it’s constantly coming out with new products — or bringing back old favorites. For April, there seems to be a big focus on springtime sweets.

Some of these items may already be in stock at your local Trader Joe’s. But others won’t hit the shelves until later this month, in mid- or late-April.

1. Chocolate Mousse Eggs

This is a seasonal favorite that comes back in time for Easter each year. They’re sold in packs of six, each sporting three different designs. Inside, you’ll find chocolate cake layered with a silky mousse. Sounds like a perfect addition to the Easter table — or just as a snack on the way home from the store.

2. Vanilla Cardona Goat’s Milk Cheese

Every month, Trader Joe’s picks a Spotlight Cheese to highlight as a way to help customers find cheeses they may not know about. April’s pick is this sweet Vanilla Cardona Goat’s Milk Cheese. Produced in Wisconsin with milk from local goat herds, this hard dessert cheese is rubbed in vanilla sugar to give it a special finish.

3. Spicy Mango Lemonade

Returning to stores later this month is the favorite Spicy Mango Lemonade, which you can find in the refrigerated beverages section. Dubbed as “so Trader Joe’s” in the store’s podcast, one of the hosts suggests freezing it into ice cubes to add to sparkling water. They say that it’s worth a try even if you don’t like mangoes or spicy things — “just for the experience.”

4. Blueberry & Lemon Hand Pies

If you’re a pasty fan, check out these fruity, fry-able hand pies. They come with airfryer directions right on the package, so you can have the fresh-baked experience right at home. Our happy hosts say these pies are packed with blueberry flavor, which is enhanced by the acidity of the lemon. Don’t have the patience to wait for them to come out of the airfryer? You could just eat them straight out of the box!

5. Waffle weave cotton kitchen towels

Alright, taking a quick break from the sweet things, it’s worth touching on the new waffle weave cotton kitchen towels coming soon to a Trader Joe’s near you. If you, like one of the podcast hosts, are wondering, why more towels? Well, as it turns out, they’re an upgrade. As one podcast host said, “We have decided that these towels are actually way better at drying dishes than the ones we were offering.” So if you already like your Trader Joe’s dish towels, you may be interested in trading up to ones even more dish-ier! (Alright, that’s not a word, but you get what I mean).

6. Chromatic Celebration Cake & Baking Mix

Back to the April sugar rush, we have a box of cheerful baking mix. Reminiscent of a Funfetti cake, this Chromatic Celebration Cake & Baking Mix would make a great Easter dessert, or just a fun weeknight treat. The box contains just about everything you need for a spring celebration cake, including the cake mix, frosting mix, and a package of rainbow sprinkles.

7. Coffee Bean Hold the Cone! Mini Ice Cream Cones

For some folks, no meal is complete without that cup of coffee. But for some of us, the weather is already warming up. So why not try a Coffee Bean Hold the Cone! Mini Ice Cream Cone instead? Filled with strongly flavored coffee bean ice cream, these frozen treats have replaced the traditional sugar cone with a chocolate sugar cone, complete with chocolate lining and chocolate coating on the ice cream.

Get ’em before they’re gone

While some of the hot — and cold — new items for April will stick around for a while, others are seasonal or limited supply. So if something on this list whet your appetite, it may be best to get them soon. And of course, don’t forget your trusty grocery rewards credit card!

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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