Chevrolet Equinox EV (LT FWD) vs Toyota RAV4 (Hybrid LE AWD): 5-year cost to own (Canada)

By Ivan H., EVCostIQ · reviewed against our public methodology · every source dated on this page

Over 5 years in Canada (15,000 km/yr), as of July 2, 2026, the Toyota RAV4 (Hybrid LE AWD) stays the cheaper car to own — about $48,042 vs $57,851 for the Chevrolet Equinox EV (LT FWD), a $9,809 difference over 5 years.

Canada EVAP: up to $5,000 off an eligible new EV ($2,500 PHEV); Quebec / BC may add more. Shown for reference; not in the totals above. Source: Transport Canada.

Cheaper to own over 5 years · CanadaToyota RAV4 (Hybrid LE AWD) · $48,042 total · $9,809 less than the Chevrolet Equinox EV (LT FWD)

Chevrolet Equinox EV (LT FWD) vs Toyota RAV4 (Hybrid LE AWD) — where the money goes

5-year total cost of ownership by component, by vehicle (CAD). Estimates; sources dated in the methodology.
Cost component	Electric · Chevrolet Equinox EV	Hybrid · Toyota RAV4
Depreciation (estimated)	$26,796 (46%)	$18,000 (37%)
Charging / fuel	$3,528 (6%)	$6,804 (14%)
↳ of which charging loss	12% (~$423)	—
Maintenance	$3,248 (6%)	$4,500 (9%)
Insurance	$15,655 (27%)	$11,750 (24%)
Financing interest	$8,125 (14%)	$6,488 (14%)
Registration & fees	$500 (1%)	$500 (1%)
Total cost of ownership	$57,851	$48,042

When does the Chevrolet Equinox EV (LT FWD) win?

The Toyota RAV4 (Hybrid LE AWD) wins decisively here — $9,809 cheaper over 5 years; at typical assumptions this isn't a close call.

No realistic annual distance flips this verdict — the Toyota RAV4 (Hybrid LE AWD) stays the cheaper car at every distance we model.

What decides the Chevrolet Equinox EV (LT FWD) vs Toyota RAV4 (Hybrid LE AWD) verdict

The single biggest mover is depreciation: $26,796 on the Chevrolet Equinox EV (LT FWD) against $18,000 on the Toyota RAV4 (Hybrid LE AWD), an $8,796 gap in the Toyota RAV4 (Hybrid LE AWD)'s favor — the largest slice of the $9,809 verdict. On the Chevrolet Equinox EV (LT FWD), depreciation alone is 46% of its $57,851 total; on the Toyota RAV4 (Hybrid LE AWD) it is 37% of $48,042.

Insurance: Chevrolet Equinox EV (LT FWD) $15,655, Toyota RAV4 (Hybrid LE AWD) $11,750 — $3,905 more in the Toyota RAV4 (Hybrid LE AWD)'s favor.
Energy: $3,528 of charging for the Chevrolet Equinox EV (LT FWD) vs $6,804 of gas for the Toyota RAV4 (Hybrid LE AWD) — $3,276 the other way, to the Chevrolet Equinox EV (LT FWD).
Financing interest: Chevrolet Equinox EV (LT FWD) $8,125, Toyota RAV4 (Hybrid LE AWD) $6,488 — $1,637 more in the Toyota RAV4 (Hybrid LE AWD)'s favor.

The Chevrolet Equinox EV (LT FWD)'s best answer is energy — $3,276 back the other way — which covers 33% of the Toyota RAV4 (Hybrid LE AWD)'s $9,809 lead. The Chevrolet Equinox EV (LT FWD) starts $8,700 behind the Toyota RAV4 (Hybrid LE AWD) at the dealer, and ownership widens it — the 5-year gap grows to $9,809. The Toyota RAV4 (Hybrid LE AWD) is ahead by $3,020 after the first year and more than doubles that lead — $9,809 by year 5.

Chevrolet Equinox EV (LT FWD) vs Toyota RAV4 (Hybrid LE AWD), side by side

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