Buying a car, truck or SUV is more expensive than it seems. When you add up some of the hidden fees like maintenance, insurance, repairs, and fees, your new truck can cost a lot more than you anticipated. Yet over five years, these three trucks cost less than $25,000 out of pocket.
Ford Maverick Pickup Costs Less Than $25,000 Out-of-Pocket Over Five Years
Kelley’s Blue Book I found that out of all the trucks on the market right now; the 2022 Ford Maverick cost about $19,017 out-of-pocket in the first five years. The price estimates the fuel cost to fill more than 15,000 miles a year. Maintenance includes oil changes and other items to keep your midsize truck running.
Insurance is the average cost to insure the vehicle in your state (with collision and liability), and repairs are based on an extended warranty with no deductible. That number and the rest will differ from person to person. Ford’s 2022 Maverick starts at $20,995 and goes up to $26,860.
|Depreciation (loss of value)||$8,774|
|Five Year Cost of Ownership||$27,791|
Financing, state fees (sales tax, license, registration) and depreciation were also taken into account. Ford’s 2022 Maverick had a five-year cost of ownership of $27,791 and total out-of-pocket expenses came to $19,017. The Maverick was the first in its class in the midsize truck category.
Check out the Ford Ranger SuperCab for a truck that costs less than $25,000 out of pocket
Second but still one of the best in its class, the 2022 Ford Ranger SuperCab has fairly reasonable costs of ownership. This truck starts at $33,680 for 2022, and Kelley Blue Book found that total out-of-pocket expenses were just $22,871.
|Depreciation (loss of value)||$11,406|
|Five Year Cost of Ownership||$34,277|
Ford’s Ranger lost about $11,406 in depreciation, but had a five-year cost of ownership of $34,277. That was good enough for second place in midsize trucks that cost less than $25,000 out-of-pocket.
Although the Hyundai Santa Cruz looks modern, it keeps its promises
The 2023 Hyundai Santa Cruz has a lot going for it. Fully capable but fairly compact and easy to park, the Santa Cruz is a good choice. It also starts at just $25,450, making it suitable for a wide variety of budgets.
|Depreciation (loss of value)||$11,000|
|Five Year Cost of Ownership||$34,735|
After five years, buyers can expect to pay $34,735 for the 2023 Hyundai Santa Cruz. It was estimated to have cost $23,735 in out-of-pocket expenses and lost about $11,000 in depreciation.
While these numbers won’t be exact for every driver, they do give you a good idea of midsize truck ownership costs. Insurance varies from state to state, and one driver’s expenses may be higher than another’s. Still, sometimes the vehicles are similarly priced and have vastly different out-of-pocket costs.