Six SUVs That Can Cost Owners Thousands More Over a Decade

SUVs can offer comfort, utility and extra room, but the sticker price is only part of the story when it comes to long-term ownership.

Over time, depreciation, repairs, insurance and fuel can add up to thousands of dollars beyond the original purchase.

Automotive and insurance specialists said these six SUVs are worth a close look because their ownership costs can be especially high.

1. BMW X5

A used BMW X5 may seem like a luxury deal, but maintaining one can become costly quickly.

Alan “Ollie” Gelfand, owner of German Car Depot, said the X5 is comfortable and loaded with helpful technology, but older versions can develop oil leaks and need work on the cooling system, suspension, engine or turbocharger.

CarEdge projects nearly $19,500 in maintenance and repair costs over the X5’s first 10 years, and estimates a nearly 57% chance that it will need a major repair during that period.

Gelfand advises checking maintenance records and having a BMW-focused repair shop perform a pre-purchase inspection before committing to an X5 for the long haul.

2. Land Rover Range Rover

Range Rover owners may face a double hit: heavy depreciation and expensive repairs.

CarEdge estimates that a Land Rover Range Rover can lose 74% of its value in five years, falling from $177,175 new to about $46,296. That steep drop can make a five-year-old Range Rover look far more affordable than a new one.

Even so, Gelfand said repair bills can stay high, especially for air-suspension failures, cooling-system leaks and electrical problems. “Parts don’t depreciate and neither does the complexity of repairs,” he said.

3. Jaguar I-Pace

Luke Oswald, automotive specialist at Wheels Away, said electric vehicles often lose value faster than gas or hybrid models, and he cited the Jaguar I-Pace as an example.

He said worries about battery life, expensive repairs and softer demand for used versions could push I-Pace prices down even further.

Kelley Blue Book estimates that a 2022 I-Pace has already dropped $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 bigger fuel bill. According to FuelEconomy.gov, the 2023 Armada 4WD gets an EPA-estimated 15 mpg in combined city and highway driving.

Jeremy Luffey, president of Drive Appeal, calculated that an Armada averaging 15 mpg would cost about $28,000 in fuel over 10 years if driven 12,000 miles a year with gas at $3.50 per gallon. He said a vehicle that gets 20 mpg would cost about $7,000 less in fuel over the same stretch.

“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

In some urban markets, a Jeep Grand Cherokee could cost $24,000 to $36,000 in comprehensive and collision insurance over 10 years, according to Rami Sneineh, co-president of Insurance Navy Brokers.

Sneineh said shoppers often concentrate on the sticker price and monthly payment without factoring in how much insurance will add to the total cost of ownership. He also noted that expensive repairs after collisions can make the bill even larger. RepairPal lists the Grand Cherokee’s average annual cost at $666.

6. Tesla Model X

More than $61,000 can vanish 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 over that period, or about $61,216 from its original price.

Atlas Risk Partners also singled out the Model X for insurance costs. Citing Highway Loss Data Institute data, the brokerage said collision losses for 2022 to 2024 Model X electric 4WDs were 118% above the average for all passenger vehicles.

The Model X serves as a reminder that an SUV’s purchase price is only one part of what it can really cost over time.