Armenia is a compact country where you can do a loop route in 5 days and see the main highlights. Here's a tried-and-tested plan in a rental car.

60 km, 1.5 hours one way. Garni is the only surviving pagan temple in the post-Soviet space. Geghard is a monastery partly carved into the rock, a UNESCO site. Overnight in Yerevan.
Khor Virap is a monastery set against Mount Ararat. Noravank is a canyon with red cliffs and a 13th-century monastery. Distance 230 km one way — about 6 hours of driving with stops in total.
Overnight in Goris. It's a convenient base for the next day.
The world's longest reversible aerial tramway — 5.7 km over the gorge of the Vorotan River. Tatev monastery on a cliff. Return to Goris or overnight in the village of Tatev.
Lake Sevan is the largest in the region. Sevanavank is a monastery on a peninsula. Then Dilijan — 'Armenian Switzerland', a resort town in the forests. 280 km for the day. Overnight in Dilijan.
Tsaghkadzor is a ski resort; in summer people come for the cool air. It's 60 km from Dilijan. Return to Yerevan by evening.
Car type: any crossover will do. You only need an SUV if you plan to go into the mountains off the main roads. There are enough petrol stations along the main highways, fewer in the mountains.
Russian licences are accepted; the deposit is usually USD 200–400. Most local providers offer unlimited mileage.
Tip from RentoRika
Book your car in advance — at least 3–5 days before the trip. In high season (June–September) popular models sell out fast.
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