Chevrolet Silverado 1500 Depreciation

A Chevrolet Silverado 1500 will depreciate 35% after 5 years and have a 5 year resale value of $26,377.

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. It also assumes a selling price of $40,857 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

Years Old Depreciation Residual Value Resale Value Mileage Resale Year
1 $5,651 86.17% $35,206 13,500 2021
2 $6,619 83.80% $34,238 27,000 2022
3 $8,163 80.02% $32,694 40,500 2023
4 $12,404 69.64% $28,453 54,000 2024
5 $14,480 64.56% $26,377 67,500 2025
6 $16,306 60.09% $24,551 81,000 2026
7 $20,306 50.30% $20,551 94,500 2027
8 $21,344 47.76% $19,513 108,000 2028
9 $22,917 43.91% $17,940 121,500 2029
10 $23,991 41.28% $16,866 135,000 2030

Chevrolet Silverado 1500 Depreciation

Years Old Depreciation Residual Value Resale Value
1 $5,651 86.17% $35,206
2 $6,619 83.80% $34,238
3 $8,163 80.02% $32,694
4 $12,404 69.64% $28,453
5 $14,480 64.56% $26,377
6 $16,306 60.09% $24,551
7 $20,306 50.30% $20,551
8 $21,344 47.76% $19,513
9 $22,917 43.91% $17,940
10 $23,991 41.28% $16,866

Chevrolet Silverado 1500 Depreciation Calculator

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Current Price
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If you purchase a used Chevrolet Silverado 1500 that is 2 years old, then you could save $6,619 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 $7,861. 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 2020 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
2020 $40,857 $40,857 $357 $0 0% 100% Better
2019 $40,148 $35,006 $412 $5,851 14.32% 86.17% Best
2018 $40,729 $34,647 $515 $359 1.03% 83.8% Better
2017 $40,053 $32,725 $673 $1,922 5.55% 80.02% Good
2016 $39,099 $28,006 $776 $4,719 14.42% 69.64% Good
2015 $38,032 $25,538 $986 $2,468 8.81% 64.56%
2014 $36,262 $23,159 $1,369 $2,379 9.32% 60.09%
2013 $32,493 $17,895 $1,550 $5,264 22.73% 50.3%
2012 $31,353 $16,644 $1,671 $1,251 6.99% 47.76%
2011 $30,748 $15,411 $1,910 $1,233 7.41% 43.91%
2010 $30,374 $14,501 $1,963 $910 5.9% 41.28%
2009 $29,448 $12,795 $2,251 $1,706 11.76% 35.81%
2008 $27,201 $11,439 $2,659 $1,356 10.6% 32.28%
Year Price % Paid Value Rank
2020 $40,857 100% Better
2019 $35,006 86.17% Best
2018 $34,647 83.8% Better
2017 $32,725 80.02% Good
2016 $28,006 69.64% Good
2015 $25,538 64.56%
2014 $23,159 60.09%
2013 $17,895 50.3%
2012 $16,644 47.76%
2011 $15,411 43.91%
2010 $14,501 41.28%
2009 $12,795 35.81%
2008 $11,439 32.28%

Considering financing? Try our Chevrolet Silverado 1500 Loan Calculator, which will steer you away from unattractive loan structures that put you in a bad financial position relative to the value of your vehicle. Customize a loan that is right for you, or try some basic options, No Money Down, 10% Down and 20% Down.

Chevrolet Silverado 1500 Review

Chevrolet Silverado 1500 Photos

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.