Sure, you know that SUVs are generally more expensive than alternative vehicles such as sedans. A 2004 Explorer put out by the Ford Motor (NYSE:F) sports a manufacturer's suggested retail price (MSRP) of between $27,000 and $38,000, while a Toyota (NYSE:TM) Camry's MSRP ranges from $20,000 to $26,000.
But there are additional costs to owning an SUV. There's gas, for starters. SUVs, overall, are not as fuel efficient as their smaller counterparts, and gas has rarely been more expensive than it is these days. There's more, though.
Parking cannot only be difficult with a big beast of a machine, but it can be more expensive. In many cities, parking garages are now charging extra for SUVs -- as much as $10 or more in addition to the usual fees. Also, in many cities, parking monitors are increasing the number of tickets they issue to SUVs that are parked imperfectly (such as crossing over into a second spot).
Repairs can also cost more for SUVs, and their size can make repairs or maintenance more expensive. Heavy vehicles put extra pressure on tires, and when they're not inflated to proper levels, they can wear out sooner. A USA Today article mentioned that according to Goodyear Tire (NYSE:GT), "SUV owners who fill a 23-gallon gas tank twice a week and neglect tire pressure, a common occurrence, waste $675 a year, based on a gas price of $1.88 a gallon."
Repairs for SUVs are also more likely. According to J.D. Power and Associates' Initial Quality Study, which tracks complaints about new vehicles in the first 90 days of ownership, SUVs average 140 problems per 100 vehicles vs. 125 for cars.
Oddly, though, the popularity of SUVs hasn't been flagging much. The percentage of new vehicles sold this year that are SUVs is expected to be around 30%, up from 27% last year.
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Longtime Fool contributor Selena Maranjian does not own shares of any companies mentioned in this article.
