Introduction to the series
Prior to the Tercel, Jesse drove a red 1982 Chevrolet Monte Carlo, equipped with a hydraulic low-rider suspension. The car was damaged and presumably abandoned after it was shot up during Hank Schrader's shootout with Tuco Salamanca.
When Jesse later drives the RV to Clovis' repair yard to negotiate its storage, Jesse needs something to drive. He asks about a classic Chevy El Camino, but it is too expensive. He asks about another car that is off-camera, to which Clovis says "Serious?" The next scene shows him arriving at a unit for rent with the red Tercel wagon.
Later, Walter is surprised to see Jesse driving the compact wagon. When Jesse says that he is "keeping things on the D.L. (down-low, being inconspicuous) Walter mocks him, saying "I'm guessing this one doesn't bounce."
Toyota Tercel Wagon
The Tercel was Toyota's first front-wheel drive car to be sold in the US. The car used in the show was the wagon version of the second generation Tercel. This model was equipped with a basic four-wheel drive system. Due to the asymmetrical styling of the rear tailgate, some likened the design to an automated teller machine. (ATM)
Jesse's Toyota Tercel sold at auction for $7,200 roughly 1440% above Kelley Blue Book value for a car with 181,500 miles the stated milage on the car.