Inflation has made virtually all products and services more expensive. It is increasingly difficult to adequately measure the true value of assets. Small SUV prices have risen across the board, with some nameplates reaching record starting prices. How much should you expect to pay for a new small SUV in 2023?
Don’t expect to spend less than $28K on a new 2023 small SUV
Some of the most popular small SUV nameplates on the market have starting prices over $26K. Keep prices and fees in mind, and the retail price of most new small SUVs is much closer to $28,000. This is a pretty significant price increase from the price of the average small SUV just a few years ago.
The Toyota RAV4 is the most popular small SUV. The 2018 RAV4 had an MSRP of $24,510. The 2023 Toyota RAV4 starts at $27,575. In the next five years, a base model RAV4 could cost more than $30,000. Honda’s popular small SUV, the CR-V, already has a starting price of more than $30,000 after its redesign.
According to edmunds, the 2023 Honda CR-V starts at $31,110. The era of new small SUVs with starting prices under $25,000 has come and gone. Most of the best small SUV nameplates are fast approaching a starting price of $30K.
What is the best cheap small SUV for 2023?
The best budget small SUV for 2023 is the 2023 Mazda CX-5. The CX-5 has an affordable starting price and standard features that scream value.
The 2023 Mazda CX-5 starts at $26,700. It comes standard with all-wheel drive, a feature that easily adds value to a small SUV’s nameplate. In addition to all-wheel drive, the CX-5 also comes with several standard features that set it apart from other models in its segment.
It’s known for being incredibly refined for its price, hence its stellar value proposition. The small SUV comes standard with a leather-wrapped steering wheel, blind-spot monitoring with rear cross-traffic alert, and Mazda Radar Cruise Control with stop-start.
The CX-5 is a quality small SUV that won’t break the bank. If you’re looking to save money, the 2023 Mazda CX-5 is easily one of the best options on the market.
What are the best cheap small SUVs on the market?
Some of the best affordable small SUVs on the market include the 2023 Kia Sportage, 2023 Mazda CX-5, 2023 Hyundai Tucson, and 2023 Subaru Forester, which are some of the best budget small SUVs on the market.
The 2023 Mazda CX-5, 2023 Hyundai Tucson and 2023 Kia Sportage are models to watch out for this year because they will battle it out in the standings. The RAV4 establishes itself as one of the best affordable small SUVs on the market. Despite its asking price, the 2023 RAV4 is still one of the best options money can buy.
Ultimately, there are still plenty of great, affordable small SUVs available for 2023, but there’s no question that small SUVs are getting more and more expensive. The Honda CR-V has become one of the few non-luxury small SUVs to pass the $30,000 starting price threshold. The year 2023 may be one of the last years that consumers can find small SUVs that cost less than $30,000 after taxes.