HOW MUCH IS A CHEVY TRAVERSE? INITIAL PURCHASE TO OWNERSHIP COSTS
Buying a new car can be a complex decision. While window shopping, we often forget that there are many other costs to consider on top of the list price. Some can significantly affect what you end up paying for your new vehicle. If you’re in the market for a new vehicle, you may be wondering how much is a Chevy Traverse? This guide will show you how much a Traverse really costs from the moment you buy it off the lot, throughout the first years of ownership.
Cost: How much is a Chevy Traverse?
The 2020 Chevy Traverse starts at about $29,800. That’s actually a tad cheaper than the 2019 model, which started at $29,930. However, the model they market as standard and which we think will appeal to most people is the LT- at around $36,595 for the cloth version and $40,295 for the leather.
Don’t worry, you’re not paying that much extra just for leather upholstery. The leather version also comes standard with the Convenience and Driver Confidence Package and more customization options.
If you’re willing to fork out even more for some nice-to-haves, the RS comes with a black finish and the premium infotainment and Bose sound system, as well as more driver aids. However, it will cost you almost five grand more than the LT Leather. The Premier is almost a carbon copy of the RS, but with more shiny trimmings.
The High Country is the most expensive model at over $50k, and it comes with all the fixings. A cooling system, hitching guidance and gear, 20″ polished alloy wheels, and a sunroof are just some of the exclusives you’ll unlock.
All Chevy Traverses come with the 3.6L V6 engine but you can opt to upgrade to the AWD version for a couple grand extra.
One tricky aspect of buying a Chevy is that they have pretty complicated feature tiers. It can be a challenge to come up with the exact specs you want without blowing your budget because of the sheer number of options. However, others will appreciate the customization.
OK, so what will it REALLY cost me?
So far, we’ve just talked about the manufacturer’s suggested retail price when discussing how much a Chevy Traverse costs. However, the taxman also has his say. According to Edmunds, taxes and fees for the Traverse average around the $2,000 mark, depending on your exact model.
You’ll also need to put aside a little bit of extra cash for the title, license, and dealer fees that should total around another $500.
If you want your car sent to you, you’ll need to pay Chevy’s freight charges as well (see them here). For the Traverse, it’s $1,195.
If you want to add on some extras on top of that, you should be willing to spend at least $5,000 on top of the list price to cover all your charges.
How does it stack up against the competition?
What makes the Traverse an interesting option to consider is that it covers a wider price range than most of its competitors. It starts at a grand or two lower than the Nissan Pathfinder or Dodge Durango, and a full eight grand lower than the Ford Explorer.
However, the High Country is significantly more expensive than even the Pathfinder Platinum 4WD or the Durango Citadel. Only the Explorer Platinum is more expensive.
So, the Traverse does seem to cover a wider range of budgets, but mostly for those with deeper pockets who want to add more features or luxury.
What about fuel economy and maintenance costs?
So, once you’ve parted with the ticket price to buy a Traverse, what will it end up costing you in the long run?
The most obvious thing to look at is the fuel economy. The FWD versions are the most economic and respectively put out 18, 27, and 21 miles per gallon for the city, highway, and combined. To its credit, the AWD’s impact is minimal with an mpg of 17, 25, and 20.
Americans drive an average of 13,476 miles per year, which could put your total fuel expenses around $1,600 per year.
According to the official ratings of competitors like the Nissan Pathfinder, Dodge Durango, and Ford Explorer, the Traverse tends to lag behind by one mpg in the city. However, the Chevy is more on par when it comes to the open road.
So, its fuel economy isn’t great. But, what do you expect from one of the bigger cars with one of the meatier engines in its class?
According to YourMechanic.com and Edmunds, you should be willing to spend about $400 on maintenance and repairs per year. Within the first ten years, there might also be the occasional blip that makes that go up to $1,000 to $2,000.
Recurring taxes and fees, as well as insurance, should add up to just under $1,000 too. Edmunds estimates their “True Cost to Own” the Traverse averages at $10,000 a year, but that includes fuel, depreciation, and financing (if you went with that option).
So, is a Chevy Traverse worth it?
No one can really answer this question for you. The Chevy Traverse is a solid 7-passenger mid-sized SUV crossover with engine, features, and space to match or outdo many of its competitors.
As a buyer, you should just take care when building your Traverse to balance the staggering number of trims and options with your budget.
As with any car, the ongoing costs can equal or outgrow the initial spend after the first few years. So, make sure this is all part of your near-term financial planning.
Aim for informed decision-making
We hope this guide helped answer your question how much is a Chevy Traverse? Plus, we hope it will assist you to choose and purchase the car that works best for you.