The 2023 Chevy Tahoe stands as the fifth-generation full-size SUV’s third model year. During the fourth generation’s final model year, the 2020 Tahoe was recognized to have the lowest estimated five-year cost of ownership. Now, the 2023 Tahoe has received the same recognition.
According to a report from Kelley Blue Book, the 2023 Chevy Tahoe is the least expensive full-size SUV to own over the span of five years. In fact, with an estimated five-year cost to own calculated at $71,337, the Tahoe is $3,901 cheaper than the segment average.
It’s worth noting that the Nissan Armanda boasted the lowest estimated five-year cost of ownership for the 2022 rendition of this study.
To calculate this figure, KBB collected data on projected resale value, while also taking into consideration factors like insurance costs, state fees, fuel, maintenance, and repair outlays. Each vehicle’s initial cost is calculated from KBB’s Fair Purchase Price. In addition, vehicles are sales-weighted, meaning that popular trims are given greater influence so that the average buyer has a better idea of what to expect from the ownership experience.
As a reminder, the 2023 Chevy Tahoe is available with a number of powerplant options, including the naturally aspirated 5.3L V8 L84 gasoline engine, rated at 355 horsepower and 383 pound-feet of torque, the naturally aspirated 6.2L V8 L87 gasoline engine, rated at 420 horsepower and 460 pound-feet of torque, and the 3.0L I6 LM2 turbodiesel Duramax engine, rated at 277 horsepower and 460 pound-feet of torque.
Under the skin, the Tahoe rides on the GM T1 platform, which it shares with GM’s full-size SUV lineup. Production of the 2023 model year kicked off on July 18th, 2022 place at the GM Arlington plant in Texas.
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Comments
Living on a hilltop in a very, very rural area, it was more than I wanted to spend, but I purchased for my wife a 2020 Tahoe with the RPO L83 engine. Dynamite vehicle which I hope to be long-lived, and especially durable, with its full frame, 6L80 and manually-selectable 4WD. As long as the DI, Cylinder Deactivation and VVT keep working I’ll be happy. Cautious, but happy.
Cheap vehicle to own as long as you don’t mind a $1000 monthly lease price…
CHEAP?? Ok if you wanna finance it for 6 to 7 years at a $1000 a month or more payments!! I see nothing cheap about these fullsize SUVs. The prices have gotten out of hand, and I frankly don’t see how the average working class citizen affords them!?
They lease them. Current lease deal is $649/mo for 36 months (with $7,800 due at signing…) Many people these days simply go from lease to lease not realizing what it is costing them in the long run. They’ll spend $62K leasing over the course of 6 years, when they could have spent $65K BUYING something and then at the end of 6 years have an asset they actually own with some actual value.
The prices have gotten ridiculous. I remember back in 1995, my aunt bought a brand-new Tahoe…it was the first one to arrive at the dealership. Very few people knew what it was. She got an LS 4wd, green and silver two-tone. It was just under $32,000. Now you can barely touch one for under $60,000.
$32000 was a lot of money in 1995 as well. Per inflation calculator it is equivalent to $63000 today. I remember seeing a 1/2 ton Chevy on a lot around that time for low $30’s and being in disbelief at the cost.
In 1970 a new Caprice was $3500
We don’t. That’s why I now own a traverse L AWD. In all honesty though, it’s longer and roomier than the last gen Tahoe, and it’s 5000lbs towing isn’t far off from my parants 2002 LTZ suburban I drove back in high school. Once I get it over 150K I’m going to put it on a lift kit and see how it does. Already it’s like driving a side by side off road with it’s lighter weight.
I will say, I wish there was a WT suburban/Tahoe with minimum bells and whistles for companies/families that need to haul people and tow off road at the same time. No bells and whistles to keep the weight down for maximum towing and payload. A plastic face, single speed transfer case with the 8 speed and low rear end+9 seats and a solid rear axle, surely they could keep it at 40K and almost 9000lbs towing.
I was going to wait for the 2023 2.7 Turbo Colorado but really glad now that I bought my Traverse LT with the towing package in November.
Just bought a 23 LT Traverse with tow package myself. It’s enough towing for my needs. Also, Traverse interior is just as roomy as a Tahoe, and in fact, has more trunk space behind the 3rd row.
Tahoe, as nice as it is, is over priced and too expensive to own. But to anyone that has one, enjoy.