Chevrolet Silverado 1500 Depreciation

A Chevrolet Silverado 1500 will depreciate 38% after 5 years and have a 5 year resale value of $25,407.

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 $5,951 85.56% $35,261 12,000 2022
2 $8,700 78.89% $32,512 24,000 2023
3 $10,826 73.73% $30,386 36,000 2024
4 $12,153 70.51% $29,059 48,000 2025
5 $15,805 61.65% $25,407 60,000 2026
6 $17,486 57.57% $23,726 72,000 2027
7 $18,541 55.01% $22,671 84,000 2028
8 $23,610 42.71% $17,602 96,000 2029
9 $24,583 40.35% $16,629 108,000 2030
10 $26,705 35.20% $14,507 120,000 2031

Chevrolet Silverado 1500 Depreciation

Years Old Depreciation Residual Value Resale Value
1 $5,951 85.56% $35,261
2 $8,700 78.89% $32,512
3 $10,826 73.73% $30,386
4 $12,153 70.51% $29,059
5 $15,805 61.65% $25,407
6 $17,486 57.57% $23,726
7 $18,541 55.01% $22,671
8 $23,610 42.71% $17,602
9 $24,583 40.35% $16,629
10 $26,705 35.20% $14,507

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 $8,700 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 $7,105. 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.

What About Chevrolet Silverado 1500 Insurance Costs?

The average cost to insure a Chevrolet Silverado 1500 is about $1,702 per year. This adds up to around $8,510 after 5 years of vehicle ownership. Unlike depreciation, this expense can often be lowered by shopping around for lower insurance premiums. Comparing quotes will ensure that you are not overpaying if you already own a Chevrolet Silverado 1500. Or, if you are just researching, then it would be money-wise to know this cost before buying. Try our Competitive Quote Tool or the form below to get free quotes. Advertising Disclosure

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 $343 $0 0% 100%
2020 $40,857 $35,357 $401 $5,855 14.21% 85.56% Best
2019 $40,148 $32,167 $494 $3,190 9.02% 78.89% Better
2018 $40,729 $30,674 $643 $1,493 4.64% 73.73% Better
2017 $40,053 $29,008 $766 $1,666 5.43% 70.51% Good
2016 $39,099 $25,065 $961 $3,943 13.59% 61.65% Good
2015 $38,032 $23,250 $1,354 $1,815 7.24% 57.57%
2014 $36,262 $21,457 $1,511 $1,793 7.71% 55.01%
2013 $32,493 $15,535 $1,657 $5,922 27.6% 42.71%
2012 $31,353 $14,523 $1,873 $1,012 6.51% 40.35%
2011 $30,748 $12,724 $1,901 $1,799 12.39% 35.2%
2010 $30,374 $12,044 $2,133 $680 5.34% 32.63%
2009 $29,448 $11,257 $2,468 $787 6.53% 29.85%
Year Price % Paid Value Rank
2021 $41,212 100%
2020 $35,357 85.56% Best
2019 $32,167 78.89% Better
2018 $30,674 73.73% Better
2017 $29,008 70.51% Good
2016 $25,065 61.65% Good
2015 $23,250 57.57%
2014 $21,457 55.01%
2013 $15,535 42.71%
2012 $14,523 40.35%
2011 $12,724 35.2%
2010 $12,044 32.63%
2009 $11,257 29.85%

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: