Annually the Kelley Blue Book releases its ratings of the cheapest cars, trucks and SUVs to own over five years. For 2022, the cheapest SUVs to own include a Hyundai, two Subarus, a Lexus and the Bronco. The company recently rated 2022 SUVs based on the data the company collects on insurance costs, maintenance costs, fuel costs and depreciation. The five-year cost to own also factors in the new purchase price and the trade-in value.
There’s a wide variety in the cheapest SUVs to own
KBB found eleven SUVs that it rated as cheap-to-own over five years. The top five in their respective segments are below, starting at the least expensive. Some SUVs have a lower five-year cost to own because they hold their value, others because they’re inexpensive to buy, and others because they’re inexpensive to operate and insure. Two of the top five SUVs are Subarus, and one big reason is because they hold their value at trade-in time, and the same is likely true for the high rank of the 2022 Ford Bronco.
1: The 2022 Hyundai Venue
The 2022 Hyundai Venue Subcompact SUV is the least expensive to own over five years and KBB rates its five-year cost to own at $30,555, which is $6,982 lower than the segment average.
The Venue is Hyundai’s new-for-2021 entry level SUV with funky styling that sets it apart. It is a front-wheel-drive only, five-seat, SUV. New, a Venue starts at $20,750 and is one of the cheapest SUVs to own.
2: The 2022 Subaru Forester
The 2022 Subaru Forester has a projected five-year cost to own figure of $39,473, which is $1,957 lower than the segment average, according to the new Kelley Blue Book report.
The Forester is one of Subaru’s best-selling SUVs now its fifth generation. The current version was launched in 2019. Subaru’s come standard with all-wheel-drive and are known to be reliable SUVs. The Forester has won a five-year-cost-to-own award from KBB for the last five years and is also available in Wilderness trim.
3: The 2022 Subaru Outback
The two-row Subaru Outback has a projected five-year cost to own at $48,383, which is $4,121 lower than the segment average.
Like the Forester, the Outback is a known for its reliability and its all-wheel-drive prowess. For 2022 the company added a Wilderness version, which is an even-stouter version of the SUV. It has increased clearance and bumpers that were changed to improve approach and departure angles.
4: 2022 Lexus UX
The subcompact luxury SUV Lexus UX has a projected five-year cost to own at $46,424, which is $3,224 lower than the segment average.
The UX is often forgotten about because it’s overshadowed by other Lexus SUVs. It’s the least expensive way to put a Lexus in your garage. It’s powered by a smallish four-cylinder and starts at $34,225, but if you cans swing a bit of extra cash, the F-sport version and 250h hybrid versions add a dose of handling fun or a hybrid that gets up to 42 miles per gallon. Though it’s a premium SUV, it’s still one of the cheapest SUVs to own.
5: 2022 Ford Bronco
In the off-road SUV segment, the Ford Bronco has a five-year cost to own at $47,961, which is $3,059 lower than the segment average.
One of the reasons we expect the Bronco has a low average is because it’s a hot vehicle and dealers are quickly selling every one they get. The Bronco is designed to be at home off-road and depending on the package you pick, it can be quite the luxury SUV.