6 SUVs That Could Lose You Thousands of Dollars Over 10 Years
SUVs can be practical, comfortable and worth the extra space. But the price on the window doesn’t tell you what one will actually cost to own for the next decade.
Depreciation, repairs, insurance and fuel can add thousands of dollars to the tab long after the purchase is complete.
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Automotive and insurance experts said these six SUVs are models where those long-term costs deserve a closer look.
1. BMW X5
A used BMW X5 can look like a luxury bargain, but keeping one on the road can get expensive fast.
Alan “Ollie” Gelfand, owner of German Car Depot, said the X5 is comfortable and packed with useful tech, but older models can develop oil leaks and require cooling-system, suspension, engine, or turbocharger repairs.
CarEdge projects nearly $19,500 in maintenance and repair expenses during the X5’s first 10 years and puts its chance of needing a major repair during that period at nearly 57%.
Gelfand recommends checking the vehicle’s maintenance history and getting a pre-purchase inspection from a repair shop that specializes in BMWs before buying an X5 for the long term.
2. Land Rover Range Rover
Range Rover owners can get hit twice: First by steep depreciation, then by costly repairs.
CarEdge estimates a Land Rover Range Rover can lose 74% of its value in five years, dropping from $177,175 new to about $46,296. That kind of depreciation can make a five-year-old Range Rover seem much more affordable than a new one.
But Gelfand said the repair costs can remain high, especially for air-suspension problems, cooling-system leaks and electrical issues. He said, “Parts don’t depreciate and neither does the complexity of repairs.”
3. Jaguar I-Pace
Luke Oswald, automotive specialist at Wheels Away, said electric vehicles can depreciate much faster than gas or hybrid vehicles, and pointed to the Jaguar I-Pace as an example.
He said concerns about battery longevity and expensive repairs, combined with weaker demand for used models, could drive I-Pace values even lower.
Kelley Blue Book estimates that a 2022 I-Pace has already lost $32,939 in value over the past three years and is now worth about $23,900 on the resale market.
4. Nissan Armada
The Nissan Armada’s size and power come with a higher fuel bill. The 2023 Armada 4WD gets an EPA-estimated 15 mpg in combined city and highway driving, per FuelEconomy.gov.
Jeremy Luffey, president of Drive Appeal, calculated that an Armada getting 15 mpg would cost about $28,000 in fuel over 10 years if driven 12,000 miles annually with gas at $3.50 per gallon. By comparison, he said that a vehicle getting 20 mpg would cost about $7,000 less to fuel over the same period.
“The practical decision is whether the buyer needs the Armada’s size and capability enough to justify that ongoing expense,” Luffey said.
5. Jeep Grand Cherokee
A Jeep Grand Cherokee could cost $24,000 to $36,000 in comprehensive and collision coverage over 10 years in some urban markets, according to Rami Sneineh, co-president of Insurance Navy Brokers.
Sneineh said buyers often focus on the sticker price and monthly payment without considering how much insurance will add to the cost of ownership. He noted costly post-collision repairs can add to the bill, too. RepairPal puts the Grand Cherokee’s average annual cost at $666.
6. Tesla Model X
More than $61,000 can disappear from the value of a Tesla Model X in its first five years.
Zander Cook, co-founder and chief revenue officer of Lease End, said the SUV lost 61.2% of its value during that period, or about $61,216 from its original price.
Atlas Risk Partners also flagged the Model X for insurance costs. Citing Highway Loss Data Institute data, the brokerage said collision losses for the 2022 to 2024 Model X electric 4WDs were 118% above the average for all passenger vehicles.
The Model X is a reminder that the purchase price is only part of what an SUV can cost over time.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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