The Toyota Alphard is a perennial favorite and synonymous with luxury minivans. You probably see its imposing appearance on the streets quite often.
The Alphard has a spacious interior, luxurious interior, and high driving performance, making it popular among families. However, the Alphard is by no means a cheap car. When considering purchasing one, you need to consider not only the vehicle price, but also various other costs such as maintenance costs and loan repayments.
So this time, the theme is “The annual income that can buy an Alphard.”
- Alphard price range
- Required annual income
- Breakdown of maintenance costs
- Loan Simulation
- Points to consider when purchasing
We will explain these in detail. If you are dreaming of buying an Alphard, or if you want to know if it is realistically possible, please read to the end.
Annual income required to purchase an Alphard
- Calculate the annual cost of spending on a car based on 30% to 40% of your annual income.
- If you prepare a large down payment, it will reduce the burden of the loan and make it easier to pass the screening.
Points to consider when purchasing an Alphard
- Budget: Consider maintenance costs and loan repayments
- Needs: Grades and options that suit your family structure and lifestyle
- Safety: Latest safety equipment
- Resale value: High
Alphard price range
Alphard
First, let’s understand the price range of the Alphard.
The new Alphard, which will be released in June 2023, will be available with three powertrains: gasoline, hybrid, and plug-in hybrid, with some improvements on January 7, 2025. Prices vary depending on the grade and options, but the general price ranges are as follows:
- Gasoline-powered vehicles : from 5.5 million yen
- Hybrid car : from 5.1 million yen
- Plug-in hybrid vehicle : From 10.65 million yen
| grade | engine | Drive system | Price (10%) |
|---|---|---|---|
| Z | 2.5 L inline 4-cylinder direct injection engine + Direct Shift-CVT |
2WD | 5,550,000 yen |
| Z | 2.5 L inline 4-cylinder direct injection engine + Direct Shift-CVT |
4WD | 5,748,000 yen |
| X | 2.5 L inline 4-cylinder direct injection engine + motor THS II (hybrid) |
2WD | 5,100,000 yen |
| X | 2.5 L inline 4-cylinder direct injection engine + motor THS II (hybrid) |
4WD | 5,320,000 yen |
| Z | 2.5 L inline 4-cylinder direct injection engine + motor THS II (hybrid) |
2WD | 6,350,000 yen |
| Z | 2.5 L inline 4-cylinder direct injection engine + motor THS II (hybrid) |
4WD | 6,570,000 yen |
| Executive Lounge |
2.5 L inline 4-cylinder direct injection engine + motor THS II (hybrid) |
2WD | 8,600,000 yen |
| Executive Lounge |
2.5 L inline 4-cylinder direct injection engine + motor THS II (hybrid) |
4WD | 8,820,000 yen |
| Executive Lounge |
2.5L inline 4-cylinder direct injection engine + motor THS II (PHEV) |
4WD | 10,650,000 yen |
| Spacious Lounge |
2.5 L inline 4-cylinder direct injection engine + motor THS II (hybrid) |
4WD | 12,720,000 yen |
| Spacious Lounge |
2.5L inline 4-cylinder direct injection engine + motor THS II (PHEV) |
4WD | 14,800,000 yen |
Reference: Toyota Alphard
How much annual income do you need to buy an Alphard?
It is difficult to say how much annual income is required to purchase an Alphard.
Because it’s not just about annual income,
- Savings amount
- Family composition
- Lifestyle
- Loan amount and repayment period
This is because a variety of factors influence it.
However, a good general guideline is to aim for 30% to 40% of your annual salary .
For example, if your annual income is 6 million yen, your annual car expenses should be around 1.8 million to 2.4 million yen.
This amount includes not only the price of the vehicle, but also maintenance costs and loan repayments.
The larger the down payment, the better!
When purchasing an expensive car like an Alphard, it is advantageous to be able to prepare a large down payment.
The larger your down payment, the less you will need to borrow on the loan, reducing your monthly repayments and interest burden.
Another benefit is that a larger down payment makes it easier to pass loan screening.
Detailed explanation of Alphard maintenance costs
Alphard
The maintenance costs for an Alphard are divided into the following items:
- Automobile tax: 43,500 yen (1 year)
- Weight tax: Because it is over 1,500 kg, a high weight tax of 41,000 yen (every 2 years) is charged.
- Voluntary insurance premium: Automobile insurance premium approximately 100,000 yen (1 year)
- Vehicle inspection fee: Approximately 100,000 yen (every 2 years)
- Parking fee: Monthly parking fee: Approximately 30,000 yen (monthly)
- Fuel costs: Gasoline costs (depending on mileage)
- Consumables: car wash, engine oil, etc.
tax
The Alphard is mainly available as a 2.5L gasoline vehicle or hybrid vehicle.
Vehicle tax varies depending on engine displacement.
Alphard automobile tax: 43,500 yen (1 year)
- For 2.5L : 43,500 yen per year
Automobile weight tax varies depending on the vehicle weight.
| Engine displacement | Automobile tax amount |
|---|---|
| 660cc | 10,800 yen |
| 1,000cc or less | 25,000 yen |
| More than 1,000cc but less than 1,500cc | 30,500 yen |
| More than 1,500cc but less than 2,000cc | 36,000 yen |
| More than 2,000cc but less than 2,500cc | 43,500 yen |
| More than 2,500cc but less than 3,000cc | 50,000 yen |
| More than 3,000cc but less than 3,500cc | 57,000 yen |
| More than 3,500cc but less than 4,000cc | 65,500 yen |
| More than 4,000cc but less than 4,500cc | 75,500 yen |
| More than 4,500cc but less than 6,000cc | 87,000 yen |
| Over 6,000cc | 110,000 yen |
automobile tax
Standard car: Automobile weight tax (weight tax) required every two years for vehicle inspection: 41,000 yen (for two years)
Since it is a statutory fee that is included in the vehicle inspection fee, it will be listed in the vehicle inspection fee. The automobile weight tax is determined by vehicle model. The Alphard’s vehicle weight is 2,060kg to 2,230kg, and private passenger cars are inspected every two years, while freight vehicles are inspected annually.
- For Alphard : Vehicle weight is 1.5 to 2 tons, so 41,000 yen (every 2 years)
| Vehicle weight | Less than 13 years since new registration |
|---|---|
| Less than 500kg | 8,200 yen |
| 1,000kg or less | 16,400 yen |
| 1,500kg or less | 24,600 yen |
| 2,000kg or less | 32,800 yen |
| 2.500kg or less | 41,000 yen |
| 3,000kg or less | 49,200 yen |
Vehicle weight tax (weight tax)
Reference: Ministry of Internal Affairs and Communications
insurance
Car insurance premiums vary greatly depending on factors such as age, grade, driving history, and coverage. Luxury cars like the Alphard tend to have higher insurance premiums. Also, Alphards with extensive safety features may be eligible for discounts on insurance premiums.
Voluntary insurance premium: Approximately 100,000 yen (1 year)
Voluntary automobile insurance is insurance that car owners and users can voluntarily purchase to cover the portion of their insurance that is not covered by compulsory automobile liability insurance, or to prepare for damages that are not covered by compulsory automobile liability insurance . The main differences between compulsory automobile liability insurance and voluntary automobile insurance are as follows:
| item | Compulsory automobile liability insurance | Voluntary insurance |
|---|---|---|
| Join | compulsion | any |
| Coverage | Personal injury and property damage compensation | Personal injury and property damage compensation, vehicle insurance, passenger insurance, etc. |
| Compensation amount | minimum level | Subscriber’s choice |
| Insurance premiums | Depends on the vehicle type and age | Depends on the compensation |
Voluntary insurance mainly covers three types of coverage :
- Third-party liability insurance: Covers damages to the other party who is killed or injured.
- Property damage insurance: Covers damage to the other party’s property, such as vehicles and buildings.
- Vehicle insurance: Covers repair costs if your car is damaged in an accident.
You can freely combine these types of coverage to choose the coverage you need. The premium for optional insurance is determined by the coverage you choose, the type of car you own, your age, your accident history, and other factors.
This time, you can freely combine options, and the amount varies depending on the voluntary insurance company, so we think it will cost around 100,000 yen per year, including vehicle insurance.
fuel cost
Fuel costs vary greatly depending on whether you have a gasoline or hybrid car and the distance you drive. Hybrid cars have better fuel economy than gasoline cars, so you can save money on fuel.
Maintenance costs
Vehicle inspection fees are required every two years. In the case of the Alphard, in addition to the legal fees, there are also costs for parts replacement and maintenance. Regular inspections and maintenance such as oil changes are also required.
Parking fee
Parking fees vary depending on the area and type of parking lot. Monthly parking fees tend to be higher in urban areas.
Calculate the maintenance cost for one year of the Alphard
The calculations are based on a 10,000 km annual driving distance. Also, I’ve written “approximately” because I’ve divided each payment into one year. Other expenses and parking fees are not included in this calculation, as some people incur these fees and others do not.
| 1 year fee | Alphard gasoline vehicle |
Alphard hybrid car |
|---|---|---|
| automobile tax | 43,500 yen | 43,500 yen |
| Voluntary insurance premiums | Approximately 100,000 yen | Approximately 100,000 yen |
| Compulsory automobile liability insurance | Approximately 8,825 yen | Approximately 8,825 yen |
| Vehicle weight tax (weight tax) |
Approximately 16,400 yen | Approximately 16,400 yen |
| Vehicle inspection costs | Approximately 50,000 yen | Approximately 50,000 yen |
| Gasoline costs | Approximately 212,500 yen | Approximately 125,926 yen |
| total | Approximately 431,225 yen | Approximately 344,651 yen |
*This is based on the latest automotive information, so please let us know if you find any mistakes.
Alphard loan simulation
Let’s do a loan simulation for purchasing an Alphard. Here, we will simulate under the following conditions.
- Vehicle price : 6 million yen
- Down payment : 1 million yen
- Loan amount : 5 million yen
- Interest rate : 2.0%
- Repayment period : 7 years
If we simulate this condition, the monthly repayment amount will be approximately 70,000 yen.
Keep in mind that extending the repayment period will reduce your monthly repayments, but will increase the total amount you repay.
Of course, for those who cannot afford a large down payment, there is also the option of a residual value plan.
New Alphard Z Residual Value Plan 5-Year Plan
At first glance, the residual value plan allows you to drive an Alphard Z for just 200,000 yen down payment, 100,000 yen in bonus payments, and 56,000 yen per month, which seems attractive. However, there are some points to be aware of, such as the fact that the final payment after five years will exceed 2,941,500 yen, and the total payment will exceed 6.79 million yen.
| item | Content |
|---|---|
| Car model name | Alphard Z |
| Monthly payment amount | 56,000 yen |
| Vehicle price | 5,500,000 yen (tax included) |
| down payment | 200,000 yen |
| Commission rate | 5.9% |
| Number of payments | 60 times (3 years) |
| Installment principal | 5,350,000 yen |
| Installment fee | 1,249,832 yen |
| First payment amount | 58,332 yen x 1 time |
| Second and subsequent payments | 56,000 yen x 50 sessions |
| bonus | 100,000 yen x 4 times |
| Final payment amount | 2,941,500 yen x 1 time |
| Final payment percentage | 53% |
| Total installments | 6,599,832 yen |
| Payment (including down payment, etc.) | 6,799,832 yen |
Source: Toyota Motor Corporation Residual Value Plan
Points to consider when purchasing an Alphard
When buying an Alphard, consider the following points:
- Budget : Create a budget that you can afford, taking into account not only the price of the vehicle but also maintenance costs and loan repayments.
- Needs : Choose the grade and options that suit your family and lifestyle.
- Safety : The Alphard is equipped with the latest safety features.
- Resale value : The Alphard is a car with a high resale value.
The Alphard has the highest resale value among Japanese minivans
The Alphard and Vellfire are synonymous with luxury minivans and are extremely popular not only in Japan but also throughout Asia. Their spacious interior, luxurious interior, and comfortable ride are popular with families and business travelers. In particular, the 40-series Alphard/Vellfire, which was released in 2023, is so popular that it commands a premium price on the used car market. Sales of new cars are also struggling.
| Ranking | Car model | Residual value rate (after 5 years) |
|---|---|---|
| 1st place | Toyota Alphard | 81.05% |
| 1st place | Lexus LM500h | 81.05% |
| 3rd place | Toyota Vellfire | 80.78% |
| 4th place | Toyota Voxy | 72.64% |
| 5th place | Honda Freed | 68.96% |
Minivan resale value ranking
Source: Navikuru
A word from the editorial department
This time, we’ll be discussing the annual income needed to buy an Alphard, explaining the price range, maintenance costs, and loan simulations for the Alphard. The Alphard is a highly popular luxury minivan. When considering purchasing one, you need to consider not only the vehicle price, but also various other costs, such as maintenance costs and loan repayments.
Please use this article as a reference when considering purchasing an Alphard.
