Is the Most Affordable Hyundai Available in America a Good Deal?

The 2024 Hyundai Venue comes with a starting price of just $19,900, offering five seats and a 121-horsepower four-cylinder engine. In a landscape marked by inflation, supply-chain disruptions, and escalating car prices, this deal appears attractive, albeit with a touch of skepticism from many potential buyers.

Hyundai has built a reputation for providing quality vehicles at lower prices compared to competitors. However, a subcompact SUV priced under $20,000 raises eyebrows—are there hidden repair costs, breakdown issues, or potential recalls that could offset this attractive offer?

How Reliable Is The Hyundai Venue?

According to J.D. Power, the most recent assessment of the Hyundai Venue was for the 2023 model, which received an overall score of 80 out of 100 and a quality and reliability score of 85. This rating positions it alongside Toyota vehicles like the 2024 4Runner (86/100) and Honda models such as the CR-V (84/100).

If you’re wondering, “What about the 2023 model—was that just a one-time occurrence?” the data indicates consistent reliability over the years. Although no ratings were made for the 2020 model, the 2021 Venue scored an 80 overall with an 83 in quality and reliability, while the 2022 model received 77 overall and 82 for the same metrics. Given this trend, there’s little reason to doubt the reliability of the new 2024 Venue, which is part of the same generation.

Check For An EGR Valve Recall

As of now, the 2024 Hyundai Venue has recorded a single recall, encompassing 13,511 Hyundai vehicles, including various 2024 Kona and Elantra models, due to an electrical short in the exhaust gas recirculation valve assembly, which may lead to power loss.

Apart from this, only three complaints have been reported to the NHTSA regarding the Venue. One of these pertains to the recall issue, another mentions a parts shortage delaying the recall fix, and the last complaint is about inadequately bright headlights.

What Does It Cost To Own A Hyundai Venue?

Car ownership costs extend beyond just the purchase price. Insurance, fuel, and maintenance also factor in. Fortunately, the Venue offers savings beyond its low MSRP. CarEdge estimates annual insurance costs around $1,953, which is approximately $942 less than the average for typical SUVs. This estimate assumes a good driver in their forties with decent credit and no recent incidents.

Its fuel economy, averaging 31 mpg combined, is competitive within its class. For comparison, both the Kia Soul and the Subaru CrossTrek offer similar mpg figures, making the Venue a wise choice for fuel efficiency.

Annual Maintenance

According to RepairPal, Venue owners can expect an average annual maintenance cost of about $468, placing it within the average range for small crossovers. For instance, a Subaru Crosstrek typically incurs around $492 in yearly repair costs, while a Chevy Trax will run about $488. Over ten years, CarEdge estimates the maintenance cost to be approximately $8,078, putting it at $172 below the segment average.

The most typical expensive repair is exhaust manifold replacement, which could total up to $4,323. However, many usual maintenance tasks are less costly—for example, new brake hoses may cost up to $308, new HVAC expansion valves around $320, and new brake shoes can amount to $215 each.

How Long Will A Hyundai Venue Last?

The Venue has been available since 2019, originating from the 2020 model year, and utilizes a 1.6 Smartstream engine that has been in production since 2018. Though there are no models logged for a million-mile lifespan, some Hyundai forums contain reports from drivers claiming over 150,000 miles on their original engines.

Regarding engine concerns, the most alarming issue discussed on CarComplaints is stalling, though this seems rare, with only one complaint filed for a 2020 model with just 3,900 miles. Details on the cause or repair costs were not included, but the owner faced challenges in getting the dealership to honor the warranty.

The 1.6 Smartstream engine is not yet definitively proven to reach a quarter million miles with proper care, but it has not exhibited any significant problems that would prevent such longevity. With five model years and no major recalls, along with low projected maintenance costs, the outlook seems promising.

The Hyundai Venue Is A Good Deal

In reviewing the 2024 Hyundai Venue, it’s clear that while the rear seating isn’t the most spacious for adult passengers and cargo space is limited at 18.7 cubic feet, the interior quality surpasses expectations for its price range. Despite being underpowered, the Venue is easy to handle, achieves a top speed of 115 mph, and has a suspension that smooths out minor road imperfections, making it well-suited for city driving and suburban areas. While it might not excel on highways due to its power limitations, it does what it needs to do.

With affordable pricing, low maintenance, insurance, and fuel costs, the 2024 Venue stands out. There have been no significant engine recalls, and genuine complaints across various repair forums appear to be minimal.

To summarize, the Hyundai Venue is not too good to be true. Its main drawback is its slower acceleration as a small SUV. If this fits your requirements, you’re unlikely to regret opting for Hyundai’s most budget-friendly model.

Moreover, investing an additional $2,000 for the mid-range SEL model, priced at $21,800 before taxes and fees, is worth considering. The SEL adds features like a power sunroof, dual-zone climate control, blind-spot monitoring, and a leather-wrapped steering wheel. It may not be luxurious, but the added value is significant, offering upgrades worth $4,000 for only an additional $2,000, maximizing the overall value of Hyundai’s entry-level model.

Sources:
CarComplaints,
RepairPal,
CarEdge,
NHTSA