Chevrolet Silverado 1500 Depreciation

A Chevrolet Silverado 1500 will depreciate 35% after 5 years and have a 5 year resale value of $26,685.

The Chevy Silverado 1500 is one of the best vehicles on the road for holding its value, especially over the long term. The Silverado 1500 runs slightly ahead of Ford for depreciation at year 5, with the F-150 ranked just three notches below. If you are looking for a half-ton pick-up that will be a good investment over the long haul, it's hard to beat the Silverado 1500.

The chart below shows the expected depreciation for the next 10 years. These results are for vehicles in good condition, averaging 12,000 miles per year. It also assumes a selling price of $41,212 when new. Enter your purchase price, expected ownership period and estimated miles driven annually. Our depreciation calculator will predict an expected resale value for the Chevrolet Silverado 1500.

Chevrolet Silverado 1500 Depreciation Calculator

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Chevrolet Silverado 1500 Depreciation

Years Old Depreciation Residual Value Resale Value Mileage Resale Year
1 $5,613 86.38% $35,599 12,000 2022
2 $8,193 80.12% $33,019 24,000 2023
3 $10,583 74.32% $30,629 36,000 2024
4 $11,737 71.52% $29,475 48,000 2025
5 $14,527 64.75% $26,685 60,000 2026
6 $16,625 59.66% $24,587 72,000 2027
7 $18,240 55.74% $22,972 84,000 2028
8 $21,896 46.87% $19,316 96,000 2029
9 $23,598 42.74% $17,614 108,000 2030
10 $25,160 38.95% $16,052 120,000 2031

Chevrolet Silverado 1500 Depreciation

Years Old Depreciation Residual Value Resale Value
1 $5,613 86.38% $35,599
2 $8,193 80.12% $33,019
3 $10,583 74.32% $30,629
4 $11,737 71.52% $29,475
5 $14,527 64.75% $26,685
6 $16,625 59.66% $24,587
7 $18,240 55.74% $22,972
8 $21,896 46.87% $19,316
9 $23,598 42.74% $17,614
10 $25,160 38.95% $16,052

Buying a Chevrolet Silverado 1500 New vs Used

If you purchase a used Chevrolet Silverado 1500 that is 2 years old, then you could save $8,193 compared to buying new, and still have a relatively new model with plenty of useful life remaining. If you plan to keep this vehicle for 3 years then your total cost of depreciation would be $6,334. Try other age and ownership length combinations, or different vehicles to see if you can find depreciation sweetspots where this cost is the lowest. Hint: Try vehicles between 2 and 4 years old, as brand new vehicles depreciate quickly. Also, if this is a recently released model and buying a few years old isn't possible, consider another vehicle, or perhaps wait until more used Silverado 1500 models become available.

The Best Model Years to Buy a Chevrolet Silverado 1500

The 2020 Chevrolet Silverado 1500 is our top pick for the best model year value for the Silverado 1500. With the 2020, you would only pay, on average, 86% of the price as new, with 92% of the vehicle's useful life remaining. The 2019 and 2018 model years are also attractive years for the Silverado 1500, and provide a relatively good value. Our rankings consider multiple factors, including the Silverado 1500's price as new, current price, maintenance costs and remaining years of overall predictabe expenses. Our top ranked model year represents the most car for the money of the Chevrolet Silverado 1500 models.

Chevrolet Silverado 1500 Historical Depreciation

Year New Price Current Price Maintenance $ Decline % Decline % Paid Value Rating
2021 $41,212 $41,212 $357 $0 0% 100%
2020 $40,857 $35,707 $413 $5,505 13.36% 86.38% Best
2019 $40,148 $32,681 $516 $3,026 8.47% 80.12% Better
2018 $40,729 $30,944 $674 $1,737 5.32% 74.32% Better
2017 $40,053 $29,422 $777 $1,522 4.92% 71.52% Good
2016 $39,099 $26,303 $987 $3,119 10.6% 64.75% Good
2015 $38,032 $24,060 $1,370 $2,243 8.53% 59.66%
2014 $36,262 $21,764 $1,551 $2,296 9.54% 55.74%
2013 $32,493 $16,902 $1,672 $4,862 22.34% 46.87%
2012 $31,353 $15,312 $1,911 $1,590 9.41% 42.74%
2011 $30,748 $13,940 $1,964 $1,372 8.96% 38.95%
2010 $30,374 $12,795 $2,251 $1,145 8.21% 34.71%
2009 $29,448 $11,541 $2,660 $1,254 9.8% 30.16%
Year Price % Paid Value Rank
2021 $41,212 100%
2020 $35,707 86.38% Best
2019 $32,681 80.12% Better
2018 $30,944 74.32% Better
2017 $29,422 71.52% Good
2016 $26,303 64.75% Good
2015 $24,060 59.66%
2014 $21,764 55.74%
2013 $16,902 46.87%
2012 $15,312 42.74%
2011 $13,940 38.95%
2010 $12,795 34.71%
2009 $11,541 30.16%

Chevrolet Silverado 1500 Depreciation Rankings

Depreciation Rankings

We've ranked over 200 models from best to worst for Depreciation. See where the Chevrolet Silverado 1500 ranks for Depreciation compared to other vehicles. Also check out how the Silverado 1500 stacks up in our rankings for Maintenance, Insurance and Overall Costs.

Depreciation Rankings

Other Chevrolet Silverado 1500 Costs of Ownership

Finding a car or truck that saves on depreciation costs is important. But, it's also imperative to view all major Chevrolet Silverado 1500 costs. This will ensure that you are finding the vehicle that provides you the best value, at the lowest cost. We've created tools that will also help you to save on the following ownership expenses: