European luxury cars tend to depreciate quicker than anything else on the market, and the more expensive the car was at launch, the farther its value will drop by the time the first owner is ready to trade it in. An exception to that rule is Porsche, as so many of these cars become collector's items. But, the exception to that exception seems to be the Porsche Cayenne.If we check in with our price tracking tool, we find that a base 2021 Cayenne is selling for around $25,000 below MSRP, with some models selling for less than half the sticker price, and prices are either steadily trickling down, or falling right off a cliff. The average price of a 2021 S model, for instance, has dropped by thousands just this year alone.So, is this the perfect time to buy into the dream of owning a Porsche? Or would that fully-loaded Toyota Highlander be a better use of your money? Let's find out. What Exactly Does A Loaded Highlander Cost, Anyway? Toyota The Highlander is offered in seven trims for the 2026 model year, as follows.If we want this thing fully-loaded, we're going with the top trim, the Hybrid Platinum, and more or less grabbing every option. Here's what that entails. Ruby Flare Pearl exterior color - $475 20-inch black wheels - $1,549 Cross bars - $459 Cargo net - $65 Dashcam $529 Phone cable charge package - $79 Emergency assistance kit - $89 First aid kit - $29 Smart LED Ambient Lighting - $559 All weather floor mats - $499 Toyoguard Platinum - $699 Paint protection film, hood & door - $848 Running boards - $1,099 Plus a $1,500 processing and handling fee, this comes out to a total of $67,154 before taxes, titling, and all that stuff. Not only can you get a Porsche Cayenne for less than that, you can buy two of them. A Used Porsche Cayenne Is Very Affordable In 2026 Porsche Relying on our price-tracking tool to see what a used Cayenne will cost you in 2026, here's what the pricing looks like at the moment.Note that these listings are based on up-to-the-minute pricing data. This means that, if a few sales go through between the time we're writing this, and the time you're reading it, these numbers could be off by a few bucks. But, the averages are based on anywhere from 20 to 150 listings or more, so we've got a pretty wide database for accurate numbers, meaning any new data should leave the prices in the same ballpark.Many of the newer models are actually appreciating in value at the moment. The base 2025 model starts at $84,700, for instance, but it's already selling for $103,998. That goes with the territory when you have an anticipated premium model that sells out quick. If we want a good deal, we're looking at the five-year-old models and older. Of which, we can find the current listings via the CarBuzz marketplace. A 79,851-mile 2019 Base is selling for $30,900 at My Truck Finance And Wholesale in Florida. A 72,319-mile 2020 Base is selling for $25,995 at Cargo Auto Group LLC in New York. A 105,705-mile 2019 S is selling for $27,390 at Autohighway Inc. in California. A 116,869-mile 2018 GTS is selling for $21,990 at Lima Top Cars, Inc. in California. A 91,133-mile 2020 Base is selling for $27,995 at AutoMaxx in Florida. We can't guarantee that any of these listings will still be up by the time you read this, and you'll definitely want to run your own search. But these should give you an idea of what's out there in the $31,000-and-under range, and what kind of mileage you can expect on them. Okay, But What Does A Porsche Cayenne Cost To Own? Porsche This is the stumbling block when you're shopping for a used luxury car. Yes, on the second-hand market, the pricing tends to even out. These cars depreciate quickly, but, they cost about the same to own whether you're the first, second, or third owner, right? So let's look at what a Cayenne costs to own, side by side with a Highlander.We've sourced our insurance estimates from The Zebra, fuel estimates from FuelEconomy.gov (assuming a 2021 Cayenne vs. a 2026 Highlander), and maintenance estimates from RepairPal, and found that, while a Cayenne might cost half as much as a fully-loaded Highlander to buy, it costs almost twice as much to own. The Porsche Cayenne Is Reliable, But Repairs Are Expensive Porsche The most expensive common repairs for the Cayenne, according to RepairPal, are as follows. Rack and pinion replacement $4,590 - $5,399 Active suspension system control module replacement $1,384 - $1,424 Intake manifold gasket replacement $1,220 - $1,513 Clutch master cylinder replacement $934 - $1,265 Seat heater replacement $888 - $1,017 Additionally, you'll want to be on the lookout for failing active suspension air springs. These can cost around $2,487 a spring to replace, with labor costing up to $573. High Repair Costs And Short Warranties Contribute To The SUV's Quick Depreciation Porsche The thing about a Porsche Cayenne, a 2021 model holds an 81/100 Quality & Reliability rating on J.D. Power. But the specialty maintenance and parts required to keep the car running are expensive. So you have fewer repair bills than in a typical SUV, but you're spending more on every visit.For instance, a simple oil change can cost up to $336 in a Cayenne, where it would only cost you around $170, at the most, in a Highlander. It's the same job, but it costs almost twice as much in the luxury SUV as it does in the mainstream model.As soon as the car is out of warranty, those costs are yours to cover. A standard warranty on a Porsche Cayenne lasts four years. So, you have that steep drop-off once the car is five years old. You Don't Make A Comparison Like This On Paper Porsche Ultimately, all of this comparison shopping is kind of pointless. Yes, that's kind of a ridiculous thing to say when our bread and butter is blogging about cars. But the decision is going to be made based on how you respond to the experience of actually driving a Porsche Cayenne.Our Editor-at-Large, Nicole Wakelin, took a 2025 Cayenne GTS for a ride, noting that "You can take the GTS to the track, but it's just as at home doing a family road trip or being used on the daily case for the commute to work."In our review of the 2024 model, we said that the driving modes were perfectly balanced, and it has "the best standard brakes we've come across in an SUV." For the 2020 model, we noted that the steering wheel was "beautifully weighted," and that adaptive suspension and four-wheel steering help to instill confidence no matter the weather.You can go back as many model years as you like. Check out what we have to say about the very first one. And, honestly, we're just going to be repeating ourselves from generation to generation, because there's not all that many ways out there to say "this is the best-driving SUV we've gotten our hands on in months." Try It, You'll Probably Like It Porsche Based on all the data points we've covered above, a five-year-old Porsche Cayenne is cheaper to buy than a new Toyota Highlander, but more expensive to own.But the question of whether a used Porsche is worth the price has less to do with how it compares to a Toyota Highlander, and more to do with what you think the driving experience is worth. Divided by 12 months, the annual cost of ownership comes out to $612 a month. That's less than you'd spend on a studio apartment almost anywhere in the country, and we think it's worth the cost. But you won't know how you feel on the matter until you give this SUV a try and see for yourself.