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The Subaru Forester has long been a favorite among SUV enthusiasts, offering a combination of practicality, reliability, and all-wheel-drive capability. However, owning a vehicle involves more than just the purchase price. In this article, we'll break down the true cost of owning a Subaru Forester in 2024, considering purchase price and financing, insurance, fuel, maintenance, and depreciation.

Purchase Price and Financing

The starting MSRP for a 2024 Subaru Forester is around $27,500 for the base trim, while higher trims like the Touring can cost upwards of $37,000. Adding features such as roof racks, premium audio systems, or off-road accessories can increase this price further.

 

For financing, if you opt for a 5-year loan at a 6% interest rate with a 10% down payment, your monthly payment for a base model would be approximately $450–$550, depending on your credit score and additional fees.

Depreciation

Depreciation, the reduction in value over time, is a significant factor in the total cost of ownership. Subaru vehicles typically retain their value well, with the Forester losing about 40–45% of its value after 5 years. For a $30,000 vehicle, this translates to approximately $13,500 in depreciation over 5 years.

Fuel Costs

The Subaru Forester is equipped with a 2.5L 4-cylinder engine. The 2024 Subaru Forester delivers an EPA-estimated fuel economy of 26 mpg city / 33 mpg highway, averaging about 29 mpg combined. With gas prices hovering around $3.50–$4.00 per gallon in 2024, annual fuel costs for driving 15,000 miles would be approximately $1,800–$2,000.

 

For those considering the Forester Wilderness trim, which is designed for off-road enthusiasts, fuel efficiency drops slightly due to its all-terrain tires and different gear ratios.

Maintenance and Repairs

Subarus are known for their reliability, but regular maintenance is key to keeping the Forester in good shape. Expect to spend around $600–$800 per year on oil changes, tire rotations, and other routine services. Owners should also budget for unexpected repairs, especially as the car ages.

 

  • Factory Warranty: Subaru offers a 3-year/36,000-mile basic warranty and a 5-year/60,000-mile powertrain warranty.
  • Extended Warranty Options: For added peace of mind, Subaru provides extended warranties starting at around $1,500.

Insurance Costs

Car insurance is a significant factor in the cost of ownership. The average annual insurance premium for a Subaru Forester in 2024 is around $1,300–$1,700, depending on the driver's age, location, driving history, and coverage options.

 

Subaru car insurance varies based on the model, your location, driving history, and the level of coverage you choose. Subaru vehicles, including popular models like the Forester, Outback, Crosstrek, and Impreza, are generally affordable and are considered safe vehicles, thanks to their EyeSight Driver Assist Technology and excellent crash test ratings, which can lower insurance rates. However, owners who opt for full coverage and lower deductibles should anticipate higher premiums. Subaru vehicles are affordable to insure due to their excellent safety ratings, robust build, and widespread availability of replacement parts.

Taxes and Registration

Annual taxes and registration fees vary by state but typically range from $300 to $700 in the first year, decreasing as the vehicle depreciates. Some states also impose additional fees for vehicles with higher emissions, though the Forester's efficiency keeps these costs modest.

Total Ownership Costs

When all factors are considered, owning a Subaru Forester for five years can cost between $40,000 and $50,000, depending on trim level, driving habits, and regional factors.

Conclusion

The Subaru Forester remains a solid choice in 2024, offering excellent value for its capabilities. While its upfront cost and long-term expenses may be higher than smaller vehicles, the Forester's reliability, safety features, and all-wheel-drive system make it a worthwhile investment for those who need a dependable SUV. By understanding the true cost of ownership, you can better decide if the Forester fits your budget and lifestyle.