February 18th, 2020 by

Are you wondering, “how much does a Chevy Equinox cost?” Well, you’re in the right place. The Chevy Equinox is a popular crossover SUV, currently in its third generation. It also happens to be one of the more affordable vehicles in its class.

However, there is more to how much a vehicle costs than just its starting MSRP (manufacturer’s suggested retail price). Here, we’ll break down the cost of a Chevy Equinox so that you can make an informed decision.

How much does a Chevy Equinox Cost?

As you might have guessed, there’s not just one answer to the question, “how much does a Chevy Equinox cost?” First, you need to decide whether you want to buy new or used, what year’s model you would like, and then what trim or extras you want.

For buying new, your options are mainly the 2019 or 2020 editions of the Equinox. Both still have the same starting MSRP of $23,800. In terms of trims, both also feature 7 main options.

However, for the 2020 edition, the 1.6L Turbo-Diesel 4-cylinder engine has been dropped. Only the 1.5L Turbo 4-cylinder and the 2.0L Turbo 4-cylinder options remain. Here is a quick roundup of all the 2020 trims and their prices. The info in brackets are for the AWD options:

  • L $24,995 (Not available in AWD)
  • LS $27,495 ($29,095)
  • LT $28,695 ($30,295)
  • Premier $32,595 ($34,195)

The 2019 edition follows almost exactly the same pricing and features structure. However, if you want the 1.6L Turbo-Diesel engine, it will cost only $100 or $200 less than the equivalent 2.0L Turbo.

Between the L, LS, and LT, there aren’t many significant differences. With the LS and LT, you mainly have more freedom to add optional extras to your Equinox. The LT also comes with a larger 4.2-inch infotainment system and slight cosmetic exterior improvements.
The Premier does justify its name and price with a few notable exclusive features:

  • HD rear vision camera
  • Lane change, blindside, and rear cross-traffic alerts
  • Rear park assist
  • Hands-free gesture liftgate
  • Optional premium Bose sound system

If you’re willing to buy used, you can pick up a 2019 Equinox with reasonable mileage for around $15,000 to $20,000. You can manage a used five-years-old 2014 model for around $9,000 to $13,000, depending on the mileage.

How does it compare to the competition?

When asking, “How much is a Chevy Equinox?” you may also be wondering how the Equinox stacks up against its closest competitors. Here’s a quick comparison:

  • Equinox $23,800 – $32,595
  • Honda CR-V $25,050 – $33,250
  • Ford Escape $24,855 – $33,550
  • GMC Terrain $26,195 – $39,495
  • Nissan Rogue $25,300 – $33,040

Note that all of these prices are for the 2WD versions of these vehicles. As you can see, the Equinox is actually the most affordable of the bunch. Despite that, it’s relatively on par in terms of safety, specifications, and overall features.

What are the costs of owning an Equinox?

Whenever you buy a new car, you need to be aware that there are other charges involved. The MSRP is only the beginning. These fees can vary from state to state and dealer to dealer. However, it’s better to plan for all of them than to get a nasty surprise:

  • Sales tax: The average vehicle sales tax in the U.S. is 5.75%. For the Equinox, it could range from $1,380 to almost $2,000.
  • Registration and title fees: Registration fees range from $8 to $225 and title fees from $3 to $100, depending on the state.
  • Handling and delivery: If you need the car to be delivered, you may have to pay freight charges of up to $1,195.
  • Dealer fees: Dealerships charge this on an individual basis, but the cost shouldn’t be more than $1,000.

At most, you should plan to spend an extra $3,000 to $4,000 on a Chevy Equinox. If you don’t end up paying that much, it will just be a nice bonus to buy some accessories!

What are the ongoing costs of maintaining a Chevy Equinox?

YourMechanic estimates that you will spend an average of $347 annually maintaining your Equinox. According to Edmunds’s True Cost to Own calculator, it may be as much as $1,000. However, Edmunds has been known to exaggerate these figures slightly. Still, the Equinox is a very affordable mid-size SUV to maintain and service.

In terms of fuel-efficiency, the Equinox isn’t bad but also isn’t exactly best-in-class. With a combined city/highway MPG of 28, you can expect to spend about $1,400 on fuel a year. That is—if you drive around 13,476 miles a year, the same as the average American.

Of course, another factor that determines the value of a vehicle is how long it will last. A new vehicle should take care of your transportation needs for up to 10 years to be considered a good investment. We did a little digging and found that the Equinox regularly passes the 200,000-mile milestone in good condition.

With low yearly maintenance expenses, it really cements the Equinox as an affordable car to own.

An affordable crossover SUV

If you decide to go with the Equinox, the biggest choices you will have to make are between FWD and AWD as well as the 1.5L and 2.0L engines. If you want to be able to customize your Equinox to your heart’s content, you’ll need at least the LT. Otherwise, you can just skip ahead to the supreme comfort of the Premier, although it will naturally cost you more.

Hopefully, you now know a little bit more about how much the Chevy Equinox costs. Buying a car is never quite as straightforward as it looks. However, with this info, you should be able to consider a Chevy Equinox as your next car with confidence.

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