2021 Chevrolet Equinox: Total Ownership Cost for Indiana Buyers

The Chevrolet Equinox competes in the compact SUV segment primarily on price, offering a lower entry point than the RAV4 and CR-V. For Indiana buyers on tighter budgets, the Equinox provides a practical option with AWD availability and adequate utility, but its lower price comes with reliability and fuel economy tradeoffs worth understanding.

Purchase Price Range

Used 2021 Equinoxes in Indiana are priced in the $20,000 to $27,000 range, consistently $4,000 to $6,000 below comparable RAV4 and CR-V configurations. LS and LT trims are the most common used market configurations. The lower purchase price is the Equinox's primary competitive advantage over Japanese rivals.

Fuel Cost

The 1.5-liter turbocharged Equinox averages 25 to 27 mpg in real-world Indiana combined driving, costing approximately $1,550 to $1,750 per year at 12,000 miles. This is $100 to $200 more per year than the RAV4, reducing but not eliminating the Equinox's purchase price advantage over a multi-year ownership period.

Insurance Cost

The Equinox's lower vehicle value produces lower insurance costs than most compact SUV competitors. Full coverage in Indiana typically runs $1,000 to $1,400 per year. This is a genuine cost advantage over the RAV4 and CR-V.

Reliability Considerations

The Equinox's reliability ratings are below average compared to the RAV4 and CR-V. The 1.5-liter turbocharged engine has had documented oil consumption concerns in some production batches. Before purchasing a used Equinox, verify the engine oil level has been maintained consistently and request records showing no excessive oil consumption between changes.

Total Cost Comparison

The Equinox's $4,000 to $6,000 purchase price advantage over the RAV4 is partially offset by lower resale value, slightly higher fuel costs, and potentially higher repair costs over time. For buyers who prioritize lower upfront cost and plan to trade within three to four years, the Equinox makes financial sense. For buyers who keep vehicles beyond 100,000 miles, the RAV4's reliability advantage likely produces better total ownership economics.