Chevrolet Silverado 1500 Depreciation

A Chevrolet Silverado 1500 will depreciate 35% after 5 years and have a 5 year resale value of $26,463.

The Chevy Silverado 1500 is one of the best vehicles on the road for holding its value, ranking 2nd, 6th and 11th in years 3, 5 and 7, out of over 100 popular models. The Silverado 1500 runs slightly ahead of Ford for depreciation at year 5, with the F-150 ranked just one notch 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 13,500 miles per year, and assumes a purchase price of $40,857 when new. Key in your purchase price, expected ownership period and estimated annual miles driven into our depreciation calculator, and we'll predict an expected resale value just for you.

Chevrolet Silverado 1500 Depreciation

Years Old Depreciation Residual Value Resale Value Mileage Resale Year
1 $5,569 86.37% $35,288 13,500 2021
2 $6,537 84.00% $34,320 27,000 2022
3 $8,077 80.23% $32,780 40,500 2023
4 $12,318 69.85% $28,539 54,000 2024
5 $14,394 64.77% $26,463 67,500 2025
6 $16,212 60.32% $24,645 81,000 2026
7 $20,204 50.55% $20,653 94,500 2027
8 $21,237 48.02% $19,620 108,000 2028
9 $22,810 44.17% $18,047 121,500 2029
10 $23,881 41.55% $16,976 135,000 2030
Years Old Depreciation Residual Value Resale Value
1 $5,569 86.37% $35,288
2 $6,537 84.00% $34,320
3 $8,077 80.23% $32,780
4 $12,318 69.85% $28,539
5 $14,394 64.77% $26,463
6 $16,212 60.32% $24,645
7 $20,204 50.55% $20,653
8 $21,237 48.02% $19,620
9 $22,810 44.17% $18,047
10 $23,881 41.55% $16,976

Chevrolet Silverado 1500 Depreciation Calculator

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If you purchase a used Chevrolet Silverado 1500 that is 2 years old, then you could save $6,537 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 $7,857. 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 2019 Chevrolet Silverado 1500 is our top pick for the best model year value for the Silverado 1500. With the 2019, you would only pay, on average, 86% of the price as new, with 92% of the vehicle's useful life remaining. The 2018 and 2016 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
2020 $40,857 $40,857 $275 $0 0% 100%
2019 $40,148 $35,006 $330 $5,851 14.32% 86.37% Best
2018 $40,729 $34,647 $434 $359 1.03% 84% Better
2017 $40,053 $32,725 $591 $1,922 5.55% 80.23% Good
2016 $39,099 $28,006 $695 $4,719 14.42% 69.85% Better
2015 $38,032 $25,538 $904 $2,468 8.81% 64.77% Good
2014 $36,262 $23,159 $1,287 $2,379 9.32% 60.32%
2013 $32,493 $17,895 $1,469 $5,264 22.73% 50.55%
2012 $31,353 $16,644 $1,589 $1,251 6.99% 48.02%
2011 $30,748 $15,411 $1,829 $1,233 7.41% 44.17%
2010 $30,374 $14,501 $1,881 $910 5.9% 41.55%
2009 $29,448 $12,795 $2,169 $1,706 11.76% 36.08%
2008 $27,201 $11,439 $2,577 $1,356 10.6% 32.58%
Year Price % Paid Value Rank
2020 $40,857 100%
2019 $35,006 86.37% Best
2018 $34,647 84% Better
2017 $32,725 80.23% Good
2016 $28,006 69.85% Better
2015 $25,538 64.77% Good
2014 $23,159 60.32%
2013 $17,895 50.55%
2012 $16,644 48.02%
2011 $15,411 44.17%
2010 $14,501 41.55%
2009 $12,795 36.08%
2008 $11,439 32.58%
Our Favorite Chevrolet Silverado 1500 Photo

About Our Data and "Useful Lifespan"

We aggregate and analyze millions of automotive data points from a variety of sources, including some of the industry's leading data providers. The historical depreciation tables, charts, values and overall rankings are conducted on a semi-annual basis, with our most recent update published in September 2020.

While the "Useful Lifespan" of a vehicle will vary greatly from one model to the next, and even one owner to the next, we have determined that twelve years is the most appropriate timeframe which will yield us good, usable data - and that any data beyond that timeframe becomes more dispersed, and ultimately less reliable. Moreover, maintenance costs beyond that timeframe become significantly more varied, as a vehicle owner's care of a particular vehicle will greatly impact its value, and ongoing maintenance costs. We are very much hopeful, however, that your car or truck will last well beyond twelve years, and that it gets you to where you want to go.

If you would like to know more about our data and process, check out our FAQ here.