In this new vs. used comparison, we pit a lightly used 2021 Chevrolet Suburban against a brand-new 2023 model to find out which offers the best value.
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Going back to 1935, the Chevrolet Suburban has been a do-everything sort of vehicle. The modern version, however, has evolved into perhaps the single most capable option for those who need to carry lots of people – it can fit nine people in its three rows of seating – lots of stuff – there are 145 cubic feet of cargo space – and a heavy trailer – the max rating is 8,300 pounds. As such, there are few SUVs that the Suburban compares to – except itself (or the very similar GMC Yukon XL).
To that end, we’ve put together this new vs. used Chevrolet Suburban comparison to determine if it’s worth spending money on a shiny new 2023 Suburban or to save money with a comparably equipped used model. The 12th-gen Suburban debuted in 2021 with – finally – a fully independent suspension, expanded cabin space, and the latest technology. So, to keep this matchup as apples-to-apples as possible, we’ll be comparing the new Suburban against a used 2021 model.
Both the 2021 and 2023 Chevrolet Suburban offer a trio of engines to choose from. Base models come with a 5.3L V8 putting down 355 hp and 383 lb-ft of torque. A bigger 6.2L V8 is rated for 420 horses and 460 torques.
You can also opt for a 3.0L turbodiesel inline-6 that comes in at 277 hp and 460 lb-ft of torque. All three motors mate with a 10-speed automatic that spins the rear wheels with the option for dual-range 4WD.
Gas mileage is also the same for both Suburbans with the 5.3L mill rated for 15 mpg in city driving and 19 on the highway. The big 6.2 only sees a drop of one mpg for the city rating and the diesel steps up with EPA estimates of 21/27 mpg in city/highway driving.
Thanks to a 28-gallon tank, the diesel-powered Suburban can go some 750 miles on the open road. Really, the only difference here is that in 2021, the 6.2L V8 was only offered on High Country models whereas by 2023, availability of the big V8 was expanded to the RST, Z71, and Premier trim lines.
The big news for both of these land yachts is that they now ride on a fully independent suspension. The old-school solid rear axle has been discontinued. That means both the 2021 and 2023 Suburban can be optioned with an air-ride suspension on Z71 or High Country models, while GM’s Magnetic Ride Control (MRC) comes standard on the top-spec High Country.
The air-powered components offer both off-road prowess for Z71 owners and a softer paved-road ride for the luxury-minded High Country. Combined with the high-tech MRC dampers, either of these Suburbans will deliver quite the cushy ride.
As for towing, these latest Chevy Suburbans come standard with trailer sway control and a max rating of 8,300 pounds. In 2021, the Advanced Trailering package offered a close-up Hitch View, a trailer brake controller, and blind-spot monitoring that covered the trailer on Premier models and above. The 2023 Suburban still offers that package but it has been bolstered with two trick new features – Transparent Trailer and Rear Trailer View – that help increase the total number of possible exterior camera views to 13.
No matter which model you choose, the driver and all passengers – up to eight – will be comfortable. Upholstery ranges from cloth to climatized leather, legroom in the middle row measures 42 inches with 37 inches for the way back. And if it’s cargo you’re after, both Suburbans can swallow 41 cubic feet of stuff behind the third row, 94 behind the second row, and a whopping 145 with both back rows folded. No surprise then that the Suburban owns this list of SUVs with the biggest cargo hold.
There have, however, been some infotainment improvements between 2021 and 2023. The 2021 Suburban came standard with a 10-inch central touchscreen, wireless Apple and Android integration, and a Wi-Fi hotspot. For 2023, the Suburban comes with all that as well but on LT models and above, it adds a fully digital gauge cluster and Google Built-In, neither of which were offered in 2021.
Moving up the trim ladder, both model years add systems like a color head-up display, a digital rearview mirror, and a 10-speaker Bose stereo.
The 2021 and 2023 Chevrolet Suburban feature the same trim lineup – base LS, midpack LT, sporty RST, off-roader Z71, luxury Premier, and fully loaded High Country. To a large degree, standard features are the same including full exterior LED lighting, triple-zone automatic climate control, forward collision mitigation, and automatic high beams.
LT trim adds a hands-free liftgate and heated front seats, the RST brings 22-inch wheels and red trim, and the Z71 rides higher and sports a front skid plate. Atop the hierarchy, a Premier Suburban – 2021 or 2023 – will net you climatized front seats, blind-spot monitoring, and rear cross-traffic alert while the High Country features a surround-view monitor and a rear pedestrian alert.
However, some improvements on the 2023 Suburban were unavailable in 2021. The biggest upgrade is arguably Super Cruise, a semi-autonomous driving system that works on several hundred thousand miles of North American highways. As well, a lane-keeping system and parking sensors at both ends are standard on the 2023 model versus the 2021 Suburban which required at least a Premier model for this equipment. You can go deeper into the latest model with our 2023 Suburban review.
The verdict for this new vs. used Chevrolet Suburban comparison is that both SUVs are excellent. You really can’t go wrong. If money is no object, the new 2023 model is worth pursuing for both the deeper roster of features, amenities, and technology as well as the benefit of full warranty protection.
If you do go the new route, we have some good tips on finding the right car loan. If you can live without the latest bells and whistles, a lightly used 2021 Suburban is worth considering.
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Looking over the listings here at CarsForSale.com, lightly used 2021 Suburbans start at about $51,000 for an LS or LT, $60,000 for an RST or Z71, $55,000 for a Premier, and $70,000 for a High Country. Starting prices for the 2023 model are about $59,000 for the LS, $65,000 for the LT, $67,000 and $69,000 for the RST and Z71, respectively, $72,000 for a Premier, and $78,000 for the High Country.
Granted, some used models exceed new pricing, but if you can find the right one, you can save $10,000 or more by going this route making it very enticing. Be sure to read up how age and mileage affect a used vehicle while you’re at it.