When it comes to purchasing a new vehicle, there are a lot of items on the agenda for the average consumer. However, more often than not, it’s the capacity to make a cost-effective purchase that drives many purchases. Despite the wide variety of changes that have taken place in the automotive industry, the need for a vehicle that’s affordable, inexpensive to insure, won’t cost much to keep fueled, and can be maintained for a reasonable cost is something that many drivers seek. If all of these apply to you, this is your lucky day. The vehicle we’re taking a look at is the 2024 Chevy Trax. While the vehicle was conspicuous by its absence during the 2023 model year, the vehicle has returned to much elation and fanfare. As the one brand that has always had its finger on the pulse of what consumers need, Chevy once again gives its drivers more for their money.
Lower Than All of the Rest
The consumer who has a keen eye for cost-effectiveness immediately takes notice of the up-front cost of any vehicle that they’re thinking about purchasing. In its return for the 2024 model year, the Chevy Trax is available with a starting MSRP of only $20,400. Not only is this a price that makes the Trax easily affordable to the average budget, but it also manages to underbid many of its biggest competitors. Similar offerings from Hyundai, Mazda, Volkswagen, and Kia are all priced for much more, making the Trax the definitive example of a better product at a lower price.
Practical Performance for the Average Income
When it comes to owning any vehicle, there are a number of different aspects related to cost that you have to be responsible for. While the cost varies from one vehicle to another, there’s one thing that’s truly unpredictable, and that’s the cost of fuel. With gas prices continuously fluctuating and prone to spiking upward at any time, it’s imperative to have a vehicle with a powertrain that’s ideal for helping you save money at the pump. Luckily, the Chevy Trax has just such a powertrain that can help facilitate this.
The 2024 Chevy Trax is equipped with a 1.2L turbocharged I-3 engine, the same motor that can be found in the Trailblazer. The Trax pairs its engine with a six-speed automatic transmission and propels the vehicle forward with 137 horsepower. Chevy attests to this combination being more gentle and refined than some of the other crossovers on the market that utilize a CVT, including the Trailblazer. The Trax also comes only in front-wheel drive. This not only allows Chevy to streamline production, but also guarantees conservative fuel consumption. Testing conducted by the EPA supports this, as the Trax offers consumers an MPG of 28 while commuting in the city limits, and 32 on the highway, for a combined total average of 30. This nets an estimated savings of $500 over the course of five years when compared to other makes and models in its class.
Insurance Premiums
Much like the unpredictable nature of gas prices, the cost of a monthly insurance premium is nonlinear. The amount that you can expect to pay each month will depend on a few determining factors, such as age, your driving record, credit history, the state you live in, and most importantly, the carrier with whom you decide to insure your vehicle. The average cost to insure a new Chevy Trax is approximately $1,454 a year. This is less than the average for other crossover models, and you might be able to shop around for an even less expensive rate.
Maintenance Costs
Along with insurance and the cost of fuel, all vehicles need routine service performed at regular intervals. The purchase of any vehicle is similar to making a prominent financial investment. You don’t need to be a Wall Street wizard to know that the purpose of any investment is to produce a sizable return. One of the most notable advantages of the Chevy Trax is how low the maintenance costs are. During the first six years of ownership, repair costs stay below the threshold of $900. In this same time period, the chances for a major repair remain below the 15th percentile. Because of the superior design and craftsmanship of Chevy, maintenance needs to be routine, but at longer intervals than average. For instance, oil changes and tire rotations can be performed every 7,500 miles, and the air filter for both the engine and the cabin doesn’t need to be replaced until 50,000 miles of travel. Going further for less is the driving principle of the Chevy Trax.
Depreciation
Another aspect of owning a vehicle that you should always be mindful of is the process of depreciation. This is the gradual decrease in resale value that begins occurring from the moment a vehicle is driven off of the lot and continues each year. If you’re someone who’s looking to sell their vehicle after a certain amount of time, this information is certainly necessary. It’s also helpful if you’re looking to save money on the upfront costs of a vehicle when buying used. When it comes to the depreciation of the Chevy Trax, the vehicle retains more than 75% of its resale value for the first four years of ownership, and more than half of its value during the first seven. This is important to keep in mind if you’re planning on trading in your Trax for a newer vehicle after a few years of ownership.
More for Your Money
Now that we’ve taken the time to shine a light on some of the individual costs that accompany the 2024 Chevy Trax, it’s only fitting that we explore some of the attributes that come with its low cost. The new interior design of the Trax certainly illustrates Chevy’s capacity for sophistication and convenience. An eight-inch infotainment screen comes standard and provides Apple CarPlay and Android Auto, something many more expensive vehicles don’t support. The screen is perfectly positioned adjacent to the steering column for minimal distraction. Much like its counterpart, the Blazer, Chevy has given the Trax Camaro-inspired HVAC vents that provide a unique look to the practical and dependable crossover. What’s more is that a comprehensive suite of safety features, which Chevy refers to as Safety Assist, comes standard across all trims. Automatic emergency braking, pedestrian detection, automated high beams, and lane departure and keeping assistance are all standard. For those who want to further enhance their driving experience, adaptive cruise control is available for the 2024 model year.
Our Final Verdict
While there’s no shortage of affordable crossovers and compact SUVs on the market, it takes something special to grab our attention and completely blow us away with how much is offered for a competitive price. In every aspect where the average consumer might look at cost-effectiveness, the 2024 Chevy Trax delivers impressive results. Not only is the vehicle remarkably more affordable than some of its most notable competitors, its return shows that Chevy once again places the interests of their customers above profit margins. In this day and age, this is something that we can certainly get behind.
