Chevrolet Equinox EV vs Hyundai IONIQ 5: cost to own

Verdict, over 6 years

The Chevrolet Equinox EV costs about $20,525 less

That's $285 a month. Closest matching trims: same fuel and drive where possible.

Equinox EV LT FWD✓ $1,115/moTrue cost

IONIQ 5 Preferred Long Range$1,400/moTrue cost

2026 Chevrolet Equinox EV

Closest matching trim: Equinox EV LT FWD

Sticker (MSRP)$46,199

+$4,897→↓Freight, fees, HST

Drive away$51,096

+ running costs→↓− $15,975 resale

True cost$1,115/moA month to own, after resale

2026 Hyundai IONIQ 5

Closest matching trim: IONIQ 5 Preferred Long Range

Sticker (MSRP)$55,499

+$10,656→↓Freight, fees, HST

Drive away$66,155

+ running costs→↓− $19,191 resale

True cost$1,400/moA month to own, after resale

Line by line


Price
Sticker (MSRP)	✓ $46,199	$55,499	Equinox EV by $9,300
Freight and fees, before tax	$3,444	✓ $3,045	IONIQ 5 by $399
Sales tax (HST)	✓ $6,454	$7,611	Equinox EV by $1,157
EV rebate	−$5,000	—	—
Drive-away price	✓ $51,096	$66,155	Equinox EV by $15,059
Running costs, 6 years
Fuel or charging	$3,245	✓ $2,842	IONIQ 5 by $403
Insurance (estimate)	✓ $14,121	$19,005	Equinox EV by $4,884
Maintenance (estimate)	$7,433	✓ $5,562	IONIQ 5 by $1,871
Loan rate	6.5%	6.5%	—
Loan interest	✓ $9,695	$12,862	Equinox EV by $3,167
Lost return on your money	✓ $10,594	$13,499	Equinox EV by $2,905
Resale after 6 yrs	−$15,975	✓ −$19,191	IONIQ 5 by $3,216
Total
True cost	✓ $80,300	$100,824	Equinox EV by $20,524
True cost a month	✓ $1,115/mo	$1,400/mo	Equinox EV by $285
You pay each month	✓ $1,121/mo	$1,410/mo	Equinox EV by $289
Practical
Fuel type	Electric	Electric	—
Seats	5	5	—
Carry-ons, 2 people	6	6	—
Towing, lb	1,500	✓ 2,700	—
Fast charge, minutes	—	18 (10-80%)	—
Cargo behind row 2, litres	✓ 748	745	—
Range, km (winter about 70%)	✓ 513 (359)	504 (353)	—
Length	4.84 m	4.66 m	—
Ground clearance	16 cm	16 cm	—
Resale % after 6 yrs	35%	35%	—
US crash test	✓ 5★	Not rated yet	—
European crash test	—	✓ 5★ (2021)	—

Price

Sticker (MSRP)

Equinox EV LT FWD ✓ $46,199IONIQ 5 Preferred Long Range $55,499Cheaper by Equinox EV by $9,300

Freight and fees, before tax

Equinox EV LT FWD $3,444IONIQ 5 Preferred Long Range ✓ $3,045Cheaper by IONIQ 5 by $399

Sales tax (HST)

Equinox EV LT FWD ✓ $6,454IONIQ 5 Preferred Long Range $7,611Cheaper by Equinox EV by $1,157

EV rebate

Equinox EV LT FWD −$5,000IONIQ 5 Preferred Long Range —Cheaper by —

Drive-away price

Equinox EV LT FWD ✓ $51,096IONIQ 5 Preferred Long Range $66,155Cheaper by Equinox EV by $15,059

Running costs, 6 years

Fuel or charging

Equinox EV LT FWD $3,245IONIQ 5 Preferred Long Range ✓ $2,842Cheaper by IONIQ 5 by $403

Insurance (estimate)

Equinox EV LT FWD ✓ $14,121IONIQ 5 Preferred Long Range $19,005Cheaper by Equinox EV by $4,884

Maintenance (estimate)

Equinox EV LT FWD $7,433IONIQ 5 Preferred Long Range ✓ $5,562Cheaper by IONIQ 5 by $1,871

Loan rate

Equinox EV LT FWD 6.5%IONIQ 5 Preferred Long Range 6.5%Cheaper by —

Loan interest

Equinox EV LT FWD ✓ $9,695IONIQ 5 Preferred Long Range $12,862Cheaper by Equinox EV by $3,167

Lost return on your money

Equinox EV LT FWD ✓ $10,594IONIQ 5 Preferred Long Range $13,499Cheaper by Equinox EV by $2,905

Resale after 6 yrs

Equinox EV LT FWD −$15,975IONIQ 5 Preferred Long Range ✓ −$19,191Cheaper by IONIQ 5 by $3,216

Total

True cost

Equinox EV LT FWD ✓ $80,300IONIQ 5 Preferred Long Range $100,824Cheaper by Equinox EV by $20,524

True cost a month

Equinox EV LT FWD ✓ $1,115/moIONIQ 5 Preferred Long Range $1,400/moCheaper by Equinox EV by $285

You pay each month

Equinox EV LT FWD ✓ $1,121/moIONIQ 5 Preferred Long Range $1,410/moCheaper by Equinox EV by $289

Practical

Fuel type

Equinox EV LT FWD ElectricIONIQ 5 Preferred Long Range ElectricCheaper by —

Seats

Equinox EV LT FWD 5IONIQ 5 Preferred Long Range 5Cheaper by —

Carry-ons, 2 people

Equinox EV LT FWD 6IONIQ 5 Preferred Long Range 6Cheaper by —

Towing, lb

Equinox EV LT FWD 1,500IONIQ 5 Preferred Long Range ✓ 2,700Cheaper by —

Fast charge, minutes

Equinox EV LT FWD —IONIQ 5 Preferred Long Range 18 (10-80%)Cheaper by —

Cargo behind row 2, litres

Equinox EV LT FWD ✓ 748IONIQ 5 Preferred Long Range 745Cheaper by —

Range, km (winter about 70%)

Equinox EV LT FWD ✓ 513 (359)IONIQ 5 Preferred Long Range 504 (353)Cheaper by —

Length

Equinox EV LT FWD 4.84 mIONIQ 5 Preferred Long Range 4.66 mCheaper by —

Ground clearance

Equinox EV LT FWD 16 cmIONIQ 5 Preferred Long Range 16 cmCheaper by —

Resale % after 6 yrs

Equinox EV LT FWD 35%IONIQ 5 Preferred Long Range 35%Cheaper by —

US crash test

Equinox EV LT FWD ✓ 5★IONIQ 5 Preferred Long Range Not rated yetCheaper by —

European crash test

Equinox EV LT FWD —IONIQ 5 Preferred Long Range ✓ 5★ (2021)Cheaper by —

✓ marks the better figure. Resale for both is typical for their type and brand (unless you lease). Their stickers differ by $9,300.