Hyundai Santa Fe Cost of Ownership – Preston Hyundai Blog
What You Need to Know
When it comes to buying a new car, understanding the cost of ownership is just as important as the purchase price. For those considering the Hyundai Santa Fe, a popular midsize SUV, it’s crucial to evaluate factors such as depreciation, insurance, maintenance, and financing before making your decision. In this blog, we’ll break down the Hyundai Santa Fe cost of ownership, including its depreciation, resale value, insurance, maintenance, and monthly payment. Head to Preston Hyundai to map out your Hyundai Santa Fe cost and take a test drive!
Hyundai Santa Fe Overview
The Hyundai Santa Fe is a midsize SUV known for its comfort, practicality, and excellent value. The 2024 Hyundai Santa Fe is priced between $33,000 and $48,000, depending on the trim level and added features. With a variety of configurations, the Hyundai Santa Fe caters to different preferences and needs, from families to adventure seekers. While it offers solid performance and modern technology, prospective buyers should also be aware of the long-term costs of ownership to fully understand its value.
Hyundai Santa Fe Depreciation
When it comes to depreciation and the Hyundai Santa Fe resale value, the Hyundai Santa Fe performs relatively well within its class. According to Car Edge reports, a Hyundai Santa Fe will lose about 45% of its value after five years, leaving it with a five-year resale value of approximately $24,851. Within just three years, the vehicle will have depreciated by roughly one-third of its original price, which is typical for most vehicles in its category. While this level of depreciation is standard, it means that while the Hyundai Santa Fe doesn’t hold onto its value as strongly as some high-resale vehicles, it still offers a reasonable return when it comes time to sell or trade-in.
Hyundai Santa Fe Costs of Ownership
Understanding the total Hyundai Santa Fe cost of ownership is essential for budgeting and long-term planning. This includes expenses like insurance, maintenance, and financing. For the Hyundai Santa Fe, here’s a breakdown of what to expect:
Hyundai Santa Fe Insurance Cost
Over five years, you can expect to spend around $4,000 to $5,000 on insurance for your Hyundai Santa Fe. Insurance premiums can vary based on factors such as your driving history, location, and the specific trim of your vehicle. It’s always a good idea to shop around for insurance quotes to find the best rate for your specific situation.
Hyundai Santa Fe Maintenance Cost
Hyundai provides complimentary maintenance for the first 3 years or 36,000 miles (whichever comes first), which can help reduce initial ownership costs. However, after this period, maintenance costs for the Hyundai Santa Fe can range between $5,000 and $7,000 over the next five years, depending on the model and driving conditions. Regular maintenance includes services like oil changes, tire rotations, brake inspections, and more. Keep in mind that these costs can vary by region and trim level.
Hyundai Santa Fe Financing
For those interested in financing, the Hyundai Santa Fe offers competitive rates. However, your monthly payment will depend on factors like your credit score, loan term, and down payment. Our free online payment calculator can estimate your Hyundai Santa Fe monthly payment. If you’re considering purchasing a new Hyundai Santa Fe, it’s worth noting that the financing rates may be more favorable if you take advantage of promotional offers.
Is It Worth the Investment?
While the Hyundai Santa Fe does experience depreciation, it offers solid value in terms of practicality, comfort, and reliability. It’s a great choice for families and individuals who need space, safety features, and a smooth driving experience. The 5-year cost of ownership typically ranges from $53,000 to $65,000, which is competitive for its class, considering its quality and features.
Do Hyundai Santa Fes Hold Their Value?
While Hyundai Santa Fes don’t have the best resale value in the industry, they certainly hold their value better than many other midsize SUVs. They offer good reliability, affordable ownership costs, and a decent resale value for those who decide to sell after several years. However, as with all vehicles, the Hyundai Santa Fe depreciation will be more significant in the early years of ownership.
Get Your Hyundai Santa Fe
The Hyundai Santa Fe is a well-rounded midsize SUV offering a blend of practicality, comfort, and modern features. Whether you buy new or used, the Hyundai Santa Fe’s cost of ownership is competitive for its class. If you’re looking for a family-friendly SUV that won’t break the bank, the Hyundai Santa Fe is certainly worth considering. Head to Preston Hyundai to browse our inventory and learn more details about the Hyundai Santa Fe cost.
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