Cheapest New SUV in 2023 Isn’t a Toyota or Honda
When one thinks of an affordable vehicle, value-oriented brands like Toyota and Honda might come to mind. These brands also offer reasonably-priced SUVs, such as the Corolla Cross and the HR-V. However, the cheapest new SUV in 2023 isn’t a Toyota or Honda. It’s the 2023 Hyundai Venue.
The cheapest new SUV in 2023 is the 2023 Hyundai Venue
SUVs are often one of the most expensive types of vehicles. Also, over the past couple of years, many are getting even more pricey with high inflation. However, there are some financially-accessible options.
While the 2023 Toyota Corolla Cross and the 2023 Honda HR-V are affordable SUVs, they are not the least expensive. The 2023 Hyundai Venue is the most budget-friendly model. Its starting price is $19,650 MSRP, which makes it the cheapest new SUV in 2023.
View the cheapest new SUVs in 2023:
- 2023 Hyundai Venue: $19,650 MSRP
- 2023 Kia Soul: $19,890 MSRP
- 2023 Nissan Kicks: $20,440 MSRP
- 2023 Chevy Trailblazer: $22,100 MSRP
- 2023 Hyundai Kona: $22,140 MSRP
- 2023 Mazda CX-30: $22,950 MSRP
- 2023 Mitsubishi Outlander Sport: $22,995 MSRP
- 2023 Kia Seltos: $23,340 MSRP
- 2023 Toyota Corolla Cross: $23,610 MSRP
- 2023 Honda HR-V: $23,800 MSRP
The Hyundai Venue, along with the Toyota Corolla Cross, Honda HR-V, and the rest of the models on this affordability list, are subcompact SUVs. Also, there’s one that we left off because it’s not available for the 2023 model year: the upcoming 2024 Chevy Trax, which starts at $21,495 MSRP.
2023 Venue is also affordable to own
Along with being the least expensive new SUV in terms of the purchase price, the 2023 Hyundai Venue is affordable to own. One of the biggest costs of vehicle ownership is repairs. And the Venue keeps repair costs low with its very generous warranty coverage. All models are backed by a five-year/60,000-mile basic warranty and a 10-year/100,000-mile powertrain warranty. This is the best coverage in the automotive industry.
In comparison, both the 2023 Toyota Corolla Cross and the 2023 Honda HR-V have a three-year/36,000-mile basic warranty and a five-year/60,000-mile powertrain warranty. When the time or mileage periods end for the Corolla Cross and HR-V, owners have to pay for repairs that were previously covered under the warranties. However, for the Venue, owners will still have coverage.
Another element that makes the Hyundai Venue affordable to own is its free maintenance plan. Good for three years or 36,000 miles, it covers oil changes, topping off the fluids, multipoint inspections, and tire rotations. While the Toyota and Honda models also offer complimentary maintenance plans, the coverage is shorter. It’s a two-year/25,000-mile plan for the Corolla Cross and a two-year/24,000-mile program for the HR-V.
Also, with the high fuel economy of the Venue, owners can save money on gas. It gets an estimated gas mileage of up to 31 combined mpg. This is more than the HR-V, which gets up to 28 combined mpg. However, the Corolla Cross is slightly more efficient, with an estimated fuel economy of up to 32 combined mpg for the fully gas-powered model and 37 combined mpg for the hybrid.
Hyundai Venue: More Budget-friendly SUV than the Toyota Corolla Cross and Honda HR-V
For SUV shoppers that want a vehicle that won’t obliterate their bank account, the 2023 Hyundai Venue is a solid pick. Not only does it cost less than the Toyota Corolla Cross and the Honda HR-V, but it’s also the cheapest new SUV in 2023. And with its long warranties, free maintenance plan, and high fuel economy, the Venue is also affordable to own.