If you're in the market for a new compact SUV and are looking for the least expensive model to own, you've come to the right place. Here's a simple formula to speed your search.
The cost of owning a new vehicle depends on its sticker price, the deal you're able to swing, current rebates, insurance costs, auto-loan rates, the cost of fuel, how many miles you drive annually, and depreciation. Many of these costs are impossible to estimate precisely. To get you pointed in the right direction as quickly as possible, we've slimmed down the number of key factors contributing to ownership costs to purchase price, fuel economy, and insurance.
The ownership costs cited here are based on the base model in each manufacturer's 2019 compact-SUV lineup. The manufacturer's suggested retail price (MSRP) includes the destination charge. We're assuming an owner will drive 15,000 miles per year, will achieve the EPA combined fuel-economy figure. We've factored in a fuel cost of $2.50 per gallon and the insurance cost for a driver who lives near our Ann Arbor, Michigan, headquarters. For the purposes of this guide, we've compiled the costs for three years of ownership.