2024 Hyundai Tucson vs. Chevy Equinox: 1 SUV Is Much More Affordable Long-Term
For those of us who grew up watching Sesame Street, the “one of these things” song comes to mind whenever something doesn’t quite fit right. In side-by-side comparisons, the oddball item isn’t always obvious. Looking at the 2024 Hyundai Tucson and Chevy Equinox together, we learn that starting price doesn’t determine longevity and value over several years.
2024 Hyundai Tucson vs. Chevy Equinox: starting prices
To determine the expected value after five years and see the long-term expectations, we must start with the base MSRP of the two SUVs being put against each other. The starting price of the 2024 Hyundai Tucson is around $27,250, compared to the base MSRP of $26,600 for the Equinox.
Chevrolet does a masterful job of undercutting most other brands in terms of price. For the most part, Chevy SUVs are more affordable than the competition, regardless of the category. Is a $650 difference in price worth the long-term costs of ownership? Let’s explore.
What is the expected five-year ownership cost of these two compact SUVs?
Edmunds provides what they call the ‘True Cost to Own’ a vehicle. This calculation is based on several factors, including:
- Interest on financing
- Taxes and fees
- Insurance premiums
- Fuel costs
- Maintenance Costs
- Repair costs
- Federal tax credits
Edmunds uses an average driving distance of 15,000 miles annually to determine the True Cost to Own (TCO) any vehicle.
In side-by-side comparisons of the 2024 Hyundai Tucson and Chevy Equinox, the Tucson has a TCO of $36,715, while the TCO for the Equinox is $40,878.
Some of the key factors contributing to the difference between these two compact SUVs are depreciation, maintenance, and repairs. Here is a breakdown of the expected cost in these areas for each SUV:
|2024 Hyundai Tucson||2024 Chevy Equinox|
It’s easy to see how much value the 2024 Tucson has over the 2024 Equinox after five years, but the Hyundai might have even more going for it than a lower CTO.
2024 Hyundai Tucson vs. Chevy Equinox: which SUV offers a better warranty?
Hyundai continues to add America’s Best Warranty to every new vehicle. Chevy is stuck in the old days of the basic warranty with only a few added benefits. The warranties of these two compact SUVs are:
|2024 Hyundai Tucson||2024 Chevy Equinox|
|Basic||5 yr/60,000 miles||3 yr/36,000 miles|
|Drivetrain||10 yr/100,000 miles||5 yr/60,000 miles|
|Roadside Assistance||5 yr/Unlimited miles||5 yr/60,000 miles|
As you can see, the 2024 Tucson has a much better warranty package than the Chevy Equinox, adding more value to the mix.
Does the 2024 Chevy Equinox beat the Hyundai Tucson in any category?
When comparing the base SE trim of the Tucson with the base LS trim of the Equinox, the Chevy SUV has more standard tech features than the Tucson. Both SUVs come standard with Bluetooth, but the Equinox includes:
- Satellite Radio
- Keyless ignition
- Optional parking assistance
None of these features are available in the base trim of the 2024 Tucson. So if you really value standard features, the Equinox has a clear advantage there.
Which compact SUV has more power and cargo space?
The powertrain for the 2024 Hyundai Tucson is similar but much larger than that of the Chevy Equinox. The Tucson uses a 2.5-liter 4-cylinder engine that produces 187 horsepower and 178 lb-ft of torque. The Equinox has a 1.5-liter turbocharged 4-cylinder engine making 175 horsepower and 203 lb-ft of torque.
The naturally aspirated engine of the Tucson has more horsepower, but the turbocharged engine in the Equinox delivers more torque.
Regarding cargo space, the 2024 Hyundai Tucson has 38.7 cu-ft of space behind the rear seats compared to 29.9 cu-ft for the Equinox.
What’s the verdict?
The 2024 Hyundai Tucson offers much better long-term value than the Chevy Equinox. The Tucson might cost a little more initially, but it has a lower CTO, better warranty, more powerful engine, and more cargo space. The Equinox offers a slightly better electronics package but falls short in all of our other comparison categories.
Of course, it is important to remember that the ownership costs are all estimates. Categories like repairs and insurance will vary widely from person to person. The best way to ensure long-term affordability for any new car is to take care of it, drive safely, and keep up with regular maintenance.