How Much Should You Pay for a New Small SUV in 2023?
The year 2023 is a time of economic uncertainty for millions of Americans. Between layoffs and record rates of inflation, many citizens are struggling financially. Getting the most out of your money is incredibly important in 2023. So, how much should consumers expect to pay for a new small SUV, and do any brands provide enough value for the money to justify a new car or SUV purchase?
Expect to pay close to $27K for most new small SUVs
After adding up the prices of 10 of the most popular small SUVs on the market, the average new small SUV price between models like the Mazda CX-5, Hyundai Tucson, Toyota RAV4, Honda CR-V, and Kia Sportage was around $30,643. The 2023 Honda CR-V’s high starting price contributed to this high average price. So, the new CR-V is on the right end of the pricing spectrum, being one of the most expensive new small SUVs.
The redesigned 2023 Kia Sportage is on the left end of the pricing spectrum, being one of the most affordable new small SUVs. Models like the Ford Bronco Sport land closer to the middle. Here’s a table composed of popular small SUV starting prices based on a U.S. News & World Report ranking list:
|2023 Small SUV
|Starting Price From Lowest to Highest
|2023 Kia Sportage
|2023 Subaru Forester
|2023 Hyundai Tucson
|2023 Mazda CX-5
|2023 Ford Escape
|2023 Nissan Rogue
|2023 Mazda CX-50
|2023 Toyota RAV4
|2023 Ford Bronco Sport
|2023 Honda CR-V
It’s safe to say that the median price for a new small SUV in 2023 is between $27,185 and $27,360. Models like the Kia Sportage, Subaru Forester, and Hyundai Tucson are among the most affordable options. Models like the Toyota RAV4, Ford Bronco Sport, and Honda CR-V are among the most expensive options.
How do you pick a new small SUV?
There are several major factors to consider when choosing a new vehicle. Affordability, fuel economy, and driving dynamics are some of the greatest concerns for American consumers.
Models like the Toyota RAV4 have embodied most of the traits that the average driver values, like practicality and reliability. The RAV4 and Honda CR-V are two of the most dependable options. Choosing the RAV4 over its rivals is easy because of its popularity, but does it really provide the most value for the money?
What are the best Toyota RAV4 rivals?
The Honda CR-V has been the RAV4’s sworn enemy for ages. That being said, the Honda CR-V has become significantly more expensive following its redesign. It costs $3,635 more than the Toyota RAV4.
The Nissan Rogue is a best-selling small SUV. Other great RAV4 rivals that are making plenty of noise in the segment are the Hyundai Tucson and Mazda CX-5. The Tucson is a great all-around small SUV with an attractive and futuristic exterior design. The CX-5 is one of the classiest options in its vehicle segment.
Ultimately, the best small SUV option is subjective, but the RAV4 is always a good place to start. If Toyota’s small SUV isn’t to your liking, move on to models within the same price range like the Tucson, CX-5, and Nissan Rogue, respectively. If you aren’t afraid to explore one of the most expensive options, then the redesigned 2023 Honda CR-V has plenty to offer to consumers.
Let us know your pick for the best small SUV for the money in the comment section below.