The 2020 Chevrolet Tahoe has the lowest estimated five-year cost of ownership, according to Kelley Blue Book.
The publication estimates the 2020 Chevrolet Tahoe will cost owners about $65,178 on average over a five-year period, a figure that includes expenses such as fuel, upkeep, insurance and depreciation. It says the 2020 model year of the SUV “continues this full-size SUV’s tradition of providing impressive 5-Year Cost to Own numbers,” thanks to its proven durability and reliability, along with its rugged construction.
“This is a 9-passenger SUV that can tow up to 8,600 pounds, offers nearly 95 cubic feet of cargo space behind the front seats, is genuinely off-road capable, and is one of a select few SUVs available with a choice of V8 engines,” KBB also said of the 2020 Tahoe. “This is the ideal hauler for getting you and your family to your favorite vacation spot in the mountains or by the lake – especially if you’re towing an RV or a boat there.”
KBB also applauded General Motors for offering the Chevrolet Tahoe Custom model, which deletes the third row of seating, giving the vehicle some additional cargo space and dropping the price to a more approachable $45,000.
The 2020 Chevrolet Tahoe beat out the 2020 Toyota Sequoia to take top honors in KBB’s 2020 5-Year Cost to Own awards, with the Japanese three-row costing an estimated $68,955 over a five-year period. The Ford Expedition was third with a projected five-year cost to the owner of $69,724.
The equation KBB uses to calculate its 5-Year Cost to Own estimates is “complex and includes things like insurance, fuel economy and interest rates,” though the biggest driver is depreciation. This makes sense, as some vehic.es, especially pricier premium or luxury offerings, will sometimes lose 60 percent of their value or more over a five-year period.
GM recently introduced a completely redesigned 2021 Chevrolet Tahoe, which will go on sale later this year. In addition to all-new exterior and interior styling, the vehicle rides on a GM’s new T1 platform with independent rear suspension, giving it better handling and a more refined ride.