When shopping for a new vehicle, it’s crucial to consider not just the sales price, but the total cost of ownership (TCO) over the years you’ll own it. This includes factors such as fuel efficiency, maintenance, repairs, insurance, depreciation, and more. Today, we’ll focus on ten popular midsize SUVs and their estimated 5-year total cost of ownership.
Here’s what’s typically included in TCO:
- Depreciation: This is often the largest expense and represents the loss in value a vehicle experiences over time. The rate of depreciation varies by model, brand, and market conditions.
- Fuel Costs: These costs depend on the fuel efficiency of the vehicle, the type of fuel it uses (gasoline, diesel, electricity), and the average distance driven.
- Insurance: The cost of car insurance This varies depending on the vehicle, the driver’s record, location, and the type of coverage chosen.
- Interest on Financing: This is the cost of borrowing money to buy the vehicle, and it depends on the interest rate, loan term, and initial down payment.
- Maintenance and Repairs: Regular maintenance (oil changes, tire rotations, etc.) and repairs are part of owning a vehicle. Some cars require more maintenance than others, and repair costs can vary widely.
- Taxes and Fees: These include sales tax, registration fees, and any other costs associated with purchasing and owning the vehicle.
- Opportunity Costs: This refers to the potential return you could have earned if you had invested your money elsewhere, such as in stocks or bonds, instead of spending it on the vehicle.
By considering all of these factors, TCO provides a more comprehensive view of the long-term costs of owning a vehicle. It helps buyers make informed decisions and select a vehicle that fits their budget not only at the time of purchase, but also throughout the period of ownership.
Popular Midsize SUVs
Subaru Forester
Drive with confidence in the Subaru Forester, a vehicle designed to keep up with your life’s adventures. Offering advanced safety features, remarkable fuel efficiency, and robust off-road capabilities, the Forester truly excels where other SUVs only dare to tread.
The Forester has a starting MSRP of $27,720 and can go up to $38,020 for the top trim. It comes in six different trims, each with different features and capabilities. The 5-year total cost of ownership, accounting for average maintenance, insurance costs, and assuming a moderate amount of driving, is estimated at $43,000.
Hyundai Tucson
Redefine what an SUV can be with the Hyundai Tucson. Meticulously engineered for efficiency, and packed with innovative technology, the Tucson delivers a smooth ride and impressive power. With a spacious interior and sleek design, it’s a perfect match for those who demand style and substance in equal measure.
The Tucson ranges in price from $28,235 to $38,995 with ten different trim options. The estimated 5-year total cost of ownership for the Tucson is slightly higher than the Forester, at around $45,000, given its features and typical maintenance costs.
Subaru Outback
Discover a new level of versatility with the Subaru Outback. Combining comfort and ruggedness, it’s ideal for both off-the-beaten-path adventures and daily commutes. Its advanced safety features and superior handling make it a reliable companion, ready to tackle any conditions with ease.
The Outback has a slightly higher starting price than the Forester at $29,620, with the top-end models costing up to $43,520. It comes in nine trims. The 5-year total cost of ownership is similar to the Forester, estimated at $43,500.
Hyundai Santa Fe
Emanating style and sophistication, the Hyundai Santa Fe is perfect for those seeking to elevate their driving experience. Its robust engine delivers impressive power, while the roomy, comfortable interior is fitted with the latest technology. With the Santa Fe, long road trips with family become moments of joy.
The Santa Fe starts at $30,085 and can cost up to $45,635 for the highest trim level. With an estimated 5-year total cost of ownership of $46,500, it sits in the mid-range of our analyzed SUVs.
Ford Bronco Sport
Embrace the thrill of the journey with the Ford Bronco Sport. Built with off-road prowess and city driving comfort in mind, it offers remarkable versatility. Whether you’re venturing into the wilderness or navigating urban streets, Bronco Sport stands ready to conquer every challenge with style.
The Bronco Sport is priced from $30,810 to $46,250 with six trims to choose from. Its estimated 5-year total cost of ownership sits at $47,000.
Kia Sorento
Master every journey with the Kia Sorento. Its responsive handling, advanced tech, and spacious interior make it the perfect companion for all your travels. Combining power and practicality, the Sorento offers a driving experience that is as comfortable as it is exhilarating.
The Sorento ranges in price from $31,415 to $45,015 across ten trims. The estimated 5-year total cost of ownership for the Sorento is around $46,000.
Buick Envision
Experience a higher level of refinement with the Buick Envision. Its sophisticated design, advanced technology, and smooth performance ensure every drive is a pleasure. Whether it’s a trip across town or a long-distance journey, Envision delivers a luxurious, serene, and effortless ride.
The Envision starts at $34,795 and goes up to $48,855. Despite having six trim options, the 5-year total cost of ownership is relatively high at around $50,500.
Hyundai Kona Electric
Drive towards a greener future with the Hyundai Kona Electric. This SUV offers impressive range and quick charging capabilities, making it ideal for both city commutes and longer trips. Embrace the quiet, smooth, and zero-emission drive without compromising on power or style.
The Kona Electric ranges from $34,885 to $42,885 with three trims. It has a lower estimated 5-year total cost of ownership at $41,500, thanks to the reduced maintenance and fuel costs associated with electric vehicles.
Subaru Ascent
Make room for more memories with the Subaru Ascent. With its roomy interior, advanced safety features, and powerful performance, it’s the perfect vehicle for families who love to explore. Built for long-lasting quality, the Ascent ensures every journey is safe, comfortable, and enjoyable.
The Ascent, priced between $35,120 and $49,420, comes in eight trims. Its estimated 5-year total cost of ownership is $48,000.
Toyota Venza
Experience the fusion of elegance and efficiency in the Toyota Venza. Its luxurious interior, cutting-edge technology, and powerful hybrid performance make every journey a joy. Enjoy the ride while reducing your carbon footprint – the Venza is a clear choice for the eco-conscious, discerning driver.
The Venza is priced between $35,955 and $44,100 across four trims. The estimated 5-year total cost of ownership is estimated at $46,500.
Total Cost of Ownership Summary
Here is the summary of the estimated total cost of ownership for the ten SUV models:
| Model | Starting MSRP | Top MSRP | 5 year cost of ownership | Number of Trims Levels |
| Subaru Forester | $27,720 | $38,020 | $43,000 | 6 |
| Hyundai Tucson | $28,235 | $38,995 | $45,000 | 10 |
| Subaru Outback | $29,620 | $43,520 | $43,500 | 9 |
| Hyundai Santa Fe | $30,085 | $45,635 | $46,500 | 10 |
| Ford Bronco Sport | $30,810 | $46,250 | $47,000 | 6 |
| Kia Sorento | $31,415 | $45,015 | $46,000 | 10 |
| Buick Envision | $34,795 | $48,855 | $50,500 | 6 |
| Hyundai Kona Electric | $34,885 | $42,885 | $41,500 | 3 |
| Subaru Ascent | $35,120 | $49,420 | $48,000 | 8 |
| Toyota Venza | $35,955 | $44,100 | $46,500 | 4 |
By considering the total cost of ownership rather than just the purchase price, you can make a more informed decision about which vehicle is right for your budget in the long term. This analysis should provide a starting point for your midsize SUV search.
AutoByPayment.com offers accurate estimates of new and used car loan payments based on self-selected credit score, current rebates, down payment, and trade equity or negative equity, without customers having to provide their personal identifying information such as email and phone.