The cheapest SUVs of 2023 and 2024
There is no doubt that cost is the number one decision maker when it comes to purchasing a car. As prices continue to rise, it’s becoming harder to find affordable options, so we researched what’s available to find the least expensive SUVs in the most popular categories.
These prices are current as of October 2023, using available Manufacturer’s Suggested Retail Prices for both 2023 and 2024 models where possible. Prices include destination fees, but not markups or dealer incentives.
Cheapest small SUVs: Hyundai Venue 2023
It’s no surprise that the most affordable SUVs are the smallest. One of the first introductions to the subcompact SUV segment came in the form of the funky Scion xB, followed years later by a host of newcomers including the Nissan Juke, Mini Countryman and Kia Soul. At the time, these small cars were marketed to empty nesters and first-time buyers, but nowadays they represent an alternative to traditional sedans and have increased their market share ever since.
Profit margins in this category are tight and popularity is high, which means participants get competitive prices. The best-in-class options are only a few thousand dollars more than the more affordable alternatives below, so it might make sense to consider our favorites that include the Mazda CX-30, Volkswagen Taos, and Chevrolet Trailblazer.
2023 Hyundai Venue: $20,985
The Hyundai Venue debuted in 2020 and received praise for its overall value. You get a lot of features for the money plus a very generous warranty. What holds it back is its somewhat weak engine and overall design.
Cheapest mid-size SUVs: Chevrolet Equinox 2024
Compact SUVs have the most appeal thanks to their extremely diverse range. It seems as if there’s a great option to suit almost every taste, whether you’re looking for something sporty, durable, or luxurious. They are a great choice for small families with one child and/or one dog. Topping this category are cars that include the Honda CR-V, Kia Sportage and Mazda CX-50, which are still within the reach of most shoppers’ budgets.
2024 Chevrolet Equinox: $27,995
The Equinox debuted in 2005, and this current third generation was last redesigned for 2018. Although this model may be showing its age, it’s still worthy of your attention for its comfortable ride quality, confident cornering, and ample passenger space. The Equinox’s cargo space is small and interior materials are fairly low-cost, and the less expensive model is likely to be specially ordered.
Cheapest third-row SUV: 2024 Mitsubishi Outlander
Three-row SUVs are the perfect choice for growing families. If you have two or three kids, the third row will come in handy when they have friends on a road trip or carpool in the morning. In many respects, these SUVs have replaced minivans and offer better driving dynamics and off-road capabilities. The Kia Telluride has dominated this segment in recent years, but it costs about $7,000 more than the most expensive SUV in its class.
2024 Mitsubishi Outlander: $30,015
Mitsubishi has been out of the picture for a while, but recent partnerships may signal a recovery of sorts. The Outlander has been in production since 2003, and the current model was introduced in 2022. It shares some of its platform with the Nissan Rogue, and we love it for its smooth ride, comfortable seats, and long warranty, but it could do with more power.
Cheapest large SUV: 2023 Nissan Armada
Full-size SUVs also have three rows of seats and are slightly larger than the mid-size segment. Capacity is the name of the game here as these SUVs have greater towing and towing limits and are often available in off-road versions. Comfort and style are often affected, as these are generally based on pickup truck platforms.
2023 Nissan Armada: $52,495
The Armada has been around in the U.S. for two decades, and the current second-generation model was last redesigned in 2017. It gets high marks for its interior quality and solid power but is held back by its thirsty engine, limited third-row space, and outdated technology. . You can certainly do better, but not at this price.
Cheapest electric SUV: 2023 Chevrolet Bolt EUV
We’re sorry to say that the current Chevrolet Bolt and Bolt EUV will be going out of production. They will be replaced by new versions powered by GM’s latest battery technology, known as Ultium. We doubt it will be priced as low as the Chevy Bolt EUV. For those who find one of these small electric cars at a dealership, the regular Bolt EV is slightly smaller than the Bolt EUV, which is what we chose to include here.
2023 Chevy Bolt EUV: $28,795
Note that the Bolt and Bolt EUV are front-wheel drive. If you want the kind of traction that all-wheel drive provides, you’ll have to shop elsewhere. The Bolt EUV qualifies for a $7,500 federal tax credit, making this a cheaper option. As we said, both current versions are on their way out, and we don’t know when the replacements will arrive. So, here are some of the alternatives (both offer optional all-wheel drive) currently on sale.