SUV Costs & Maintenance: How Much Will You Have to Spend?

When choosing an SUV, factors like vehicle price and monthly payments are crucial for most buyers. However, the total cost of owning an SUV goes beyond these expenses. Additional costs such as fuel, maintenance, and insurance should be factored into your monthly budget to get a clearer picture of the overall financial commitment.

Given the wide range of SUVs available, costs can vary significantly from small subcompacts to full-size, truck-like models. Gathering cost estimates while shopping for SUVs can help you make an informed decision that aligns with your budget.

Regardless of the type of SUV you choose, you can expect recurring expenses such as:

• Registration, fees, and taxes

• Car payment (including finance charges)

By inputting actual or estimated figures for these categories, you can use our SUV total cost of ownership calculator to determine your total monthly expenses.

*Please note: The total cost of SUV ownership calculator is pre-populated with estimates based on data from AAA and Experian. Refer to our methodology below for more information.

Here are some ways to gather the cost estimates you need, whether it’s through actual expenses or using average car ownership data.

Your actual monthly fuel cost: To calculate your monthly fuel cost, find the SUV’s estimated fuel economy rating (mpg) on fueleconomy.gov or the window sticker. Divide the number of miles driven monthly by the mpg and multiply by the price per gallon of gas.

AAA SUV fuel averages based on 15,000 annual miles:

• Subcompact SUV – 13.37 cents per mile or $167 monthly.

• Compact SUV (FWD) – 12.7 cents per mile or $158 monthly.

• Medium SUV (4WD) – 16.46 cents per mile or $205 monthly.

Your actual monthly maintenance cost: Find the SUV’s routine maintenance schedule and local service costs using the owner’s manual or resources like the Edmunds Car Maintenance Guide.

AAA SUV maintenance averages based on 15,000 annual miles:

• Subcompact SUV – 10.06 cents per mile or $126 monthly.

• Compact SUV (FWD) – 10.87 cents per mile or $136 monthly.

• Medium SUV (4WD) – 11.1 cents per mile or $139 monthly.

Your actual monthly cost: Your location and the types of fees you’re required to pay will determine this expense. You can get estimates from your local DMV or use their online calculators. Additional costs like parking fees can also be included in this category.

AAA SUV license, registration, and fee averages:

• Subcompact SUV – $609 annually or $51 monthly.

• Compact SUV (FWD) – $652 annually or $54 monthly.

• Medium SUV (4WD) – $827 annually or $69 monthly.

Your actual monthly cost: Factors such as coverage type, vehicle model, age, driving history, and location influence insurance costs. Compare quotes from different providers to find the best rate for your chosen SUV.

AAA SUV full-coverage insurance average:

• Subcompact SUV – $1,684 annually or $140 monthly.

• Compact SUV (FWD) – $1,723 annually or $144 monthly.

• Medium SUV (4WD) – $1,831 annually or $153 monthly.

Your actual monthly cost: If you’re financing your SUV, include the monthly payment in your budget. Use an auto loan calculator with the vehicle price, interest rate, and loan length to estimate your monthly payment.

Experian average monthly payment (not specific to SUVs):

Vehicles depreciate over time, impacting your overall cost of ownership when you sell or trade the car. While not included in our calculator, it’s essential to consider depreciation when researching SUV models.

Certain vehicles retain their value better, so it’s worth exploring which SUVs hold their value longer when making a purchase decision.

In our quest to find the top crossover SUVs in 2024, we compared the five-year cost of ownership provided by AAA and Vincentric. This cost includes financing, fees, fuel, insurance, maintenance, and depreciation for a new, base-model vehicle driven 15,000 miles annually.

Among the SUVs analyzed, Subaru, Volkswagen, and Honda models stood out for having the lowest five-year ownership costs. The Subaru Crosstrek and Volkswagen Taos were the most economical in the subcompact category, with the Subaru Forester and Honda CR-V leading in the compact SUV segment. In the midsize category, the Subaru Outback offered a cost-effective ownership experience compared to its competitors.

Knowing your total ownership expenses can guide your SUV selection and budgeting decisions. Comparing costs between similar models can help you choose a more affordable option, while evaluating monthly expenses against your budget ensures financial stability.