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Chevrolet Silverado | Depreciation Rate & Curve Graphed - FIXD
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{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.fixdapp.com\/car-buying\/chevrolet-silverado-depreciation-rate-curve-graphed\/#BlogPosting","url":"https:\/\/www.fixdapp.com\/car-buying\/chevrolet-silverado-depreciation-rate-curve-graphed\/","inLanguage":"en-US","mainEntityOfPage":"https:\/\/www.fixdapp.com\/car-buying\/chevrolet-silverado-depreciation-rate-curve-graphed\/","headline":"Chevrolet Silverado | Depreciation Rate & Curve Graphed","description":"Learn about the Chevy Silverado 1500 depreciation rate and curve over 20 years. Find the best model years to buy based on depreciation and maintenance costs per mile.","articleBody":"Find the depreciation rate of your Chevrolet Silverado 1500 in the graph below.A vehicle starts losing value from the moment of purchase, and the Chevrolet Silverado 1500 is no different. You'll see the greatest amount of depreciation during the first year after your purchase, but after that first 12-month period, your vehicle will depreciate more slowly each year until it hits the five-year mark. Different makes and models depreciate at varying rates, though, so knowing the depreciation rate of a specific vehicle can help you understand its long-term value and total cost of ownership.Keep in mind that just because the vehicle costs the least to own in the sweet spot we have outlined here, you still may not want to own the vehicle during these depreciation sweet spot years. Although vehicles depreciate less as they get older, they have more repairs. Duh right? However, keep in mind that repairs don't just cost you money, they cost you time. Reliability is the difference between being able to make it to your destination on time or missing an opportunity because the car broke down.Check out our article on the best and worst years of the Chevrolet Silverado to see our reliability ratings for all years of the Silverado between 2001-2021. We also cover MPG, safety ratings, and a number of other factors. We pulled data from Silverados registered in our app and surveyed owners to get you data-backed answers on just how good or bad each year of the Silverado is.If you want to know the depreciation and maintenance costs for your particular vehicle, use our free \"Total Cost of Ownership\" tool available in the FIXD App - Android or IOS.If you like our online tools and articles consider purchasing our FIXD sensor for $19.99 (this is 67% OFF). It's our flagship product. With it, you scan your car for common engine problems.If our sensor detects any problems with the engine, our app will clearly explain:What could have caused it andHow much the possible repairs may cost.If you'd like, we'll even show you trusted repair shops in your area where you can get your ride fixed through RepairPal. The total cost of ownership feature within the app totals your maintenance costs, repairs, and depreciation (Sensor + App). This is free on the app.Chevrolet Silverado 1500 DepreciationModel YearsMileageAmount DepreciatedResidual Value PercentageResale Value2001264,000$18,273.888.2%$1,6262002252,000$20,549.117.8%$1,7342003240,000$22,010.076.3%$1,4902004228,000$24,287.776.5%$1,6922005216,000$25,151.136.1%$1,6372006204,000$18,934.597.6%$1,5682007192,000$21,052.669.8%$2,2902008180,000$19,821.7512.5%$2,8312009168,000$20,456.1813.7%$3,2382010156,000$23,346.7613.2%$3,5582011144,000$20,990.4019.8%$5,1792012132,000$21,956.9219.9%$5,4472013120,000$22,399.3822.3%$6,4172014108,000$21,819.1929.9%$9,317201596,000$21,548.9232.9%$10,549201684,000$20,700.3536.8%$12,044201772,000$18,706.6544.4%$14,955201860,000$17,716.9448.6%$16,734201948,000$15,678.5254.3%$18,644202036,000$14,479.6557.9%$19,906202124,000$10,378.9468.9%$23,017202212,000$4,371.2986.1%$27,0162023N\/AN\/AN\/AN\/A2024N\/AN\/AN\/AN\/AThe above chart highlights the approximate depreciation for a Chevrolet Silverado 1500. It's based on Kelley Blue Book data since 2001, assuming a vehicle in a base trim, a generic color such as black or white, and a mileage of approximately 12,000 per year.Keep in mind that the auto market was heavily affected in 2020 and beyond. Automakers selling new cars during the COVID pandemic raised prices which caused a spike in demand in the used car market as people tried to save money. Many automakers, however, did not drop prices after the pandemic, they kept them so they could make a larger profit.This is why the most recent years of many vehicles have seemingly experienced less depreciation. Some may have even appreciated due to heightened levels of inflation created.Factors That Impact the Chevrolet Silverado 1500 Depreciation RateA recent study by J.D. Power found Chevrolet among the top-rated automakers for vehicle dependability. Kia ranks highest, while Buick stands in second. As for model-level awards, the Silverado HD received one of the four model-level awards for General Motors. While these ratings and awards showcase Chevrolet's reliability, some Silverado years experience more problems than others, which can affect the depreciation rate. Here are several other factors that can impact your vehicle's depreciation rate:\t\t \t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\tAge \t\t\t\t\t \t\t\t\t\tAge is a major factor that influences a vehicle’s depreciation rate. Overall, a vehicle depreciates faster in the initial stages of ownership, with up to one-fifth of its value lost within the first year and 40% over five years. That means if you buy a 2023 Chevrolet Silverado 1500 for $54,200, its value may drop to $21,680 by 2028. \t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\tBody Type \t\t\t\t\t \t\t\t\t\tYour vehicle’s body type, or body style, refers to the classification based on the shape, size, and arrangement of certain features. The main body types for all vehicles are sedans, coupes, hatchbacks, convertibles, station wagons, sports cars, sport-utility vehicles, minivans, and pickup trucks. In today’s North American auto market, pickup trucks, and small and midsize SUVs generally depreciate the slowest, while small luxury cars typically depreciate the fastest.The Chevrolet Silverado 1500 is a full-size, light-duty, half-ton pickup. The heavy-duty 2500 and 3500 models add to the Silverado options. Overall, pickup trucks tend to depreciate more slowly than other auto segments. Trucks also tend to hold their value longer than smaller cars, sedans, and even smaller SUVs. If market trends shift toward sedans, hatchbacks, and other more compact body types, depreciation rates on those vehicles may end up being similar to full-size pickups like the Silverado 1500. \t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\tMileage \t\t\t\t\t \t\t\t\t\tHigh mileage often reflects a high level of use. So, the more you use your vehicle, the more likely it is to show signs of wear and require more advanced maintenance or repairs. We based our depreciation graph on a 12,000-mile annual driving average, so if you use your vehicle more than that, it may depreciate faster. On the other hand, if you drive fewer than 12,000 miles per year, your vehicle may depreciate more slowly. \t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\tOverall Condition \t\t\t\t\t \t\t\t\t\tThe overall condition of your truck directly relates to how well it runs and how good it looks \u2014 both inside and out. Proper maintenance and care for your vehicle mean less wear and tear than a vehicle that hasn’t been cared for properly. For this reason, it’ll be worth more. If you keep up with your Silverado’s maintenance schedule, avoid damage to the mechanics and body, and keep the components in good shape, you have a much better chance of getting a high resale value. Plus, the more you get when you sell your vehicle, the lower the depreciation rate you have.It’s also important to remember that your Silverado may not be worth fixing after a certain point. If it costs almost as much or more to fix your vehicle than it would to get a new one, it may be time to call it quits rather than keep pouring money into a sinking ship. \t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\tColor \t\t\t\t\t \t\t\t\t\tStatistics show that a vehicle’s color also affects the depreciation rate. Jeweled colors such as yellow, orange, purple, red, and green tend to depreciate more slowly, with yellow being the color to depreciate the slowest at\u00a013.5% over three years. Black, white, and gray vehicles tend to have an average depreciation rate because they’re the most popular colors.On the other end of the spectrum, gold and brown depreciate much faster than average, making these colors the worst options if you want to retain your truck’s value for a long time. You can improve the resale value of your Silverado by purchasing one of the more slowly depreciating colors on the market. \t\tOther Costs of Chevrolet Silverado 1500 OwnershipThe depreciation rate of your Chevrolet Silverado 1500 is just one aspect of the total cost of ownership for your vehicle. There are other factors that can influence it, including:InsuranceCar insurance rates can vary among makes and models and usually depend on the attributes of the vehicle as well as the driver. In general, trims that provide more safety features and vehicle classes designed for less demanding use tend to have lower insurance rates because they reflect less risk to the insurance company.On average,\u00a0yearly insurance rates for a Chevrolet Silverado 1500 can cost around $1,340, which is less than the national average insurance cost of $2,148 for all cars. However, your exact rate may vary based on your insurance provider. In some cases, the cheapest insurance can dip to $1,088 per year, while the most expensive can be as high as $1,561 for full coverage. If you're going with a\u00a0liability-only policy, you may find rates as low as $512.MaintenanceRoutine maintenance and care for your Chevrolet Silverado 1500 ensure it continues to run efficiently and stays in good shape. The average repair costs for a Silverado 1500 are $711 per year. This aligns with the average repair costs for all full-size pickups and SUVs, which range between $690 and $1,000 annually. This typically includes regularly scheduled maintenance, such as the average cost of $140 to $472 just for spark plugs, depending on the model year. Using our graph, you can compare the maintenance costs according to Silverado 1500 model years.Remember that there are best and worst years of the Silverado 1500, and some years may be more costly to maintain than others. Specifically, the following model years are associated with reliability issues, including engine concerns, which can speed up the depreciation process:2001-20022003-20052006-20092012\u00a0There's also a higher-than-average chance for a $500 or more engine repair bill with the 2003 to 2013 Chevrolet Silverado models. Major transmission problems aren't as common but can happen more frequently with the 2002, 2005, and 2012 Silverado trucks.The Best Model Year To Buy a Chevrolet Silverado 1500Based on factors including price and reliability (but not depreciation), our choice for the best Chevrolet Silverado model years to buy are 2010-2011, 2013-2014, 2015-2018, and 2019-2021, but check out our article on the best and worst years of the Silverado to get the whole story.Buying a Chevrolet Silverado 1500 New vs. Used\t\t 20-Year Projection Table20-Year ProjectionYears Since PurchasedDepreciated ValueWith Inflation1$31,254$34,5032$25,011$29,2273$21,018$24,6894$19,711$23,2405$17,642$20,7016$16,117$18,8657$13,358$15,6598$11,943$14,0829$10,854$12,84110$8,095$9,68011$7,224$8,78112$7,187$8,98313$4,792$6,09414$4,973$6,39215$4,538$5,74416$3,557$4,46017$2,759$3,45018$2,214$2,78719$2,360$2,95220$2,287$2,817 \t\tA new 2023 Chevrolet Silverado 1500 has an initial MSRP of $36,300. Because of the higher inflation levels, it could depreciate more slowly over the next several years. Within three years, the same 2023 Silverado 1500 would have an approximate resale value of $19,906, for a total accumulated depreciation of $21,018. In comparison, a used 2021 Silverado 1500 has a resale value of $23,017 when factoring in its depreciation within the same three-year period.When buying a used truck, it's important to research the average depreciation rates for the make and model you're thinking about. You'll want to consider the other ownership costs, including insurance and maintenance, to help you buy a used vehicle that will give you the most value.MethodologyWe base our findings on the residual value left over after depreciation and the cost to maintain or repair each model year of the Chevrolet Silverado 1500 per mile. The data presented in this article applies to the Chevrolet Silverado 1500 Work Truck (WT) base trim. The Silverado 1500 has eight trims in total, and higher-level trims with additional options may hold their value better in the long term. Additionally, the condition of the vehicle and whether you sell to a dealer or a private buyer has a large impact on resale value too.Keep in mind, there are large economic factors at play here too and the sale of new cars has caused shifts in the used market too. There is a stark difference in the cost of vehicles due to car manufacturers seeking higher profit margins after COVID as detailed by CNN and posted by CBS channel 58:\"The auto industry saw sky-high profits even as sales plummeted. Domestic manufacturers of cars and car parts saw a profit of $32 billion through the third quarter of 2022 (the latest data available) \u2014 their largest profit since 2016. Car dealerships also reported record-breaking profits through Q3, according to auto-retail advisers Haig Partners.That's because pandemic-era pent-up consumer demand remained strong as supply shifted, allowing automakers to increase their prices and their profit margins. Cars and trucks were sold nearly as soon as they hit dealership lots, and the average price paid for a vehicle in December soared to a near-record high of $46,382, according to J.D. Power.Data from the Labor Department's November Consumer Price Index shows American consumers are paying about 20% more for cars than they were in 2019.The trend could continue into next year \u2014 research website Edmunds expects new-car sales to hit 14.8 million in 2023, a marginal increase from last year but well below pre-pandemic levels.The auto industry has entered a new era: Less choice, higher prices, and larger profit margins. So far it seems to be working for them.\"This shift by car companies to create higher profit margins by taking advantage of the heavily-reported-on chip shortage panic of COVID has had rebounding effects upon the value of used cars.\t\t \t\t\t\t\t\tAccording to Forbes: \t\t\t\t\t\t\"Shoppers looking for the most popular models like the Maverick are still finding bare cupboards at new-vehicle dealerships. That, in turn, sends them over to the used vehicle market, where its own supply issues have driven prices of the highest-demand models to record highs.\" \t\t\t\t\t\t \t\t\t\t\t\t\t\tDismiss this alert. \t\t\t \t\tBe aware that newer years (the latest 3-4 model years) may be inflated in price because of this and depending on how big this problem is for the model you are considering - it may even be inflating the price of the older model years. Frequently Asked Questions About Vehicle Depreciation \t\t \t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\tDo Chevrolet Silverado 1500s hold their value? \t\t\t\t\t \t\t\t\t\tThe Chevrolet Silverado 1500 comes in third of the top full-size pickups that hold value over time. This is just under the Toyota Tundra (number one) and the GMC Sierra 1500 (number two), according to iSeeCars. This is likely due to many Chevrolet models’ reliability, durability, and safety. \t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\tWhat are the best years of Chevrolet Silverado 1500 to buy and which ones should you avoid? \t\t\t\t\t \t\t\t\t\tThe best years for the Chevrolet Silverado 1500 are 2010 to 2011, 2013, 2014, 2015 to 2018, and 2019 to 2021. The years you should avoid at all costs are:2001-20052006-20092012Most of the issues for these Silverado years are due to engine problems, but transmission complications and brake failure are also common troubles for these model years. \t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\tWhat's considered high mileage for a Chevrolet Silverado 1500? \t\t\t\t\t \t\t\t\t\tPickup trucks are versatile and can be used in a variety of ways. Therefore, it’s challenging to determine an average mileage for the Chevrolet Silverado 1500. With proper maintenance and gentle driving, your Silverado can last more than 200,000 miles, while others that have been heavily used and abused may only last 100,000 miles. High mileage is usually better determined by a professional technician that can evaluate the truck. However, our data suggests that high mileage can generally be around 130,000 miles or more.Most of the oldest years we have data on (1996 to 2006) range between an average of 170,000 to 195,000 miles. This suggests that these vehicles are the few still left on the road because they have less mileage and, therefore, less wear and tear than average. But at this point, they’re probably only a few thousand miles away from being sold as scrap to the nearest junkyard.Only two of the older years have an average mileage of over 200,000: the 1997 at 258,000 miles and the 1999 at 250,000 miles. High mileage for newer vehicles may differ, but assuming it improves with time, you may get even more out of a high-mileage vehicle than we see now. If you’d rather buy low mileage, for 2014 and forward the average mileage is less than 130,000. \t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\tHow old of a Chevrolet Silverado 1500 should you buy to avoid most of the depreciation? \t\t\t\t\t \t\t\t\t\tThe sweet spot for a Chevrolet Silverado 1500 ranges from 2005 through 2015. These years may see the lowest depreciation values over time. Based on this sweet spot, it’s better to stick with a vehicle that’s no more than eight years old. \t\tReferences(2022.) The Best and Worst Car Colors for Resale Value. iSeeCars. Retrieved August 18, 2023, from https:\/\/www.iseecars.com\/car-color-study(2023.) Compare the Cost of Chevrolet Silverado Insurance by Model Year and Company. Money Geek. Retrieved August 4, 2023, from https:\/\/www.moneygeek.com\/insurance\/auto\/chevy-silverado-insurance\/(2023.) Best Resale Value Full-Size Trucks for 2023. iSeeCars. Retrieved August 4, 2023, from https:\/\/www.iseecars.com\/resale-value\/full-size-trucks(2023.) Average Car Insurance Cost for August 2023.\u00a0NerdWallet. Retrieved August 11, 2023, from https:\/\/www.nerdwallet.com\/article\/insurance\/how-much-is-car-insurance","keywords":"","datePublished":"2023-08-31T18:52:34-05:00","dateModified":"2024-12-11T22:39:35-05:00","author":{"@type":"Person","name":"FIXD Research Team","description":"At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.","url":"https:\/\/www.fixdapp.com\/blog\/author\/fixd\/","sameAs":["https:\/\/fixdapp.mystagingwebsite.com\/author\/fixd-research-team\/"],"image":{"@type":"ImageObject","url":"https:\/\/secure.gravatar.com\/avatar\/621befe09d4c5cf9b0b93eeb3e8a3192?s=96&d=robohash&r=g","height":96,"width":96}},"editor":{"@type":"Person","name":"FIXD Research Team","description":"At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.","url":"https:\/\/www.fixdapp.com\/blog\/author\/fixd\/","sameAs":["https:\/\/fixdapp.mystagingwebsite.com\/author\/fixd-research-team\/"],"image":{"@type":"ImageObject","url":"https:\/\/secure.gravatar.com\/avatar\/621befe09d4c5cf9b0b93eeb3e8a3192?s=96&d=robohash&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"FIXD","url":"https:\/\/www.fixdapp.com","logo":{"@type":"ImageObject","url":"https:\/\/www.fixdapp.com\/wp-content\/uploads\/2022\/06\/FIXDLogo_FullColor-1.png","width":"1000","height":"366"}},"image":[{"@type":"ImageObject","@id":"https:\/\/www.fixdapp.com\/car-buying\/chevrolet-silverado-depreciation-rate-curve-graphed\/#primaryimage","url":"https:\/\/www.fixdapp.com\/wp-content\/uploads\/2023\/08\/Chevrolet-Silverado-1500.jpg","width":"800","height":"600","caption":"Chevrolet Silverado 1500 display."},{"@type":"ImageObject","url":"https:\/\/www.fixdapp.com\/wp-content\/uploads\/2023\/08\/Chevrolet-Silvarado-1500-Depreciation.png","width":1920,"height":1080,"caption":"A chart showing the depreciation of the Chevrolet Silverado It shows the best time to own\/purchase a Chevrolet Silverado"},{"@type":"ImageObject","url":"https:\/\/www.fixdapp.com\/wp-content\/uploads\/2023\/08\/Toy-car-on-a-stack-of-coins-scaled.jpeg","width":1920,"height":1280,"caption":"Miniature yellow car model on growing stack of coins money on nature green background, "}]}, {"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.fixdapp.com\/car-buying\/chevrolet-silverado-depreciation-rate-curve-graphed\/#BlogPosting","url":"https:\/\/www.fixdapp.com\/car-buying\/chevrolet-silverado-depreciation-rate-curve-graphed\/","inLanguage":"en-US","mainEntityOfPage":"https:\/\/www.fixdapp.com\/car-buying\/chevrolet-silverado-depreciation-rate-curve-graphed\/","headline":"Chevrolet Silverado | Depreciation Rate & Curve Graphed","description":"Learn about the Chevy Silverado 1500 depreciation rate and curve over 20 years. Find the best model years to buy based on depreciation and maintenance costs per mile.","articleBody":"Find the depreciation rate of your Chevrolet Silverado 1500 in the graph below.A vehicle starts losing value from the moment of purchase, and the Chevrolet Silverado 1500 is no different. You'll see the greatest amount of depreciation during the first year after your purchase, but after that first 12-month period, your vehicle will depreciate more slowly each year until it hits the five-year mark. Different makes and models depreciate at varying rates, though, so knowing the depreciation rate of a specific vehicle can help you understand its long-term value and total cost of ownership.Keep in mind that just because the vehicle costs the least to own in the sweet spot we have outlined here, you still may not want to own the vehicle during these depreciation sweet spot years. Although vehicles depreciate less as they get older, they have more repairs. Duh right? However, keep in mind that repairs don't just cost you money, they cost you time. Reliability is the difference between being able to make it to your destination on time or missing an opportunity because the car broke down.Check out our article on the best and worst years of the Chevrolet Silverado to see our reliability ratings for all years of the Silverado between 2001-2021. We also cover MPG, safety ratings, and a number of other factors. We pulled data from Silverados registered in our app and surveyed owners to get you data-backed answers on just how good or bad each year of the Silverado is.If you want to know the depreciation and maintenance costs for your particular vehicle, use our free \"Total Cost of Ownership\" tool available in the FIXD App - Android or IOS.If you like our online tools and articles consider purchasing our FIXD sensor for $19.99 (this is 67% OFF). It's our flagship product. With it, you scan your car for common engine problems.If our sensor detects any problems with the engine, our app will clearly explain:What could have caused it andHow much the possible repairs may cost.If you'd like, we'll even show you trusted repair shops in your area where you can get your ride fixed through RepairPal. The total cost of ownership feature within the app totals your maintenance costs, repairs, and depreciation (Sensor + App). This is free on the app.Chevrolet Silverado 1500 DepreciationModel YearsMileageAmount DepreciatedResidual Value PercentageResale Value2001264,000$18,273.888.2%$1,6262002252,000$20,549.117.8%$1,7342003240,000$22,010.076.3%$1,4902004228,000$24,287.776.5%$1,6922005216,000$25,151.136.1%$1,6372006204,000$18,934.597.6%$1,5682007192,000$21,052.669.8%$2,2902008180,000$19,821.7512.5%$2,8312009168,000$20,456.1813.7%$3,2382010156,000$23,346.7613.2%$3,5582011144,000$20,990.4019.8%$5,1792012132,000$21,956.9219.9%$5,4472013120,000$22,399.3822.3%$6,4172014108,000$21,819.1929.9%$9,317201596,000$21,548.9232.9%$10,549201684,000$20,700.3536.8%$12,044201772,000$18,706.6544.4%$14,955201860,000$17,716.9448.6%$16,734201948,000$15,678.5254.3%$18,644202036,000$14,479.6557.9%$19,906202124,000$10,378.9468.9%$23,017202212,000$4,371.2986.1%$27,0162023N\/AN\/AN\/AN\/A2024N\/AN\/AN\/AN\/AThe above chart highlights the approximate depreciation for a Chevrolet Silverado 1500. It's based on Kelley Blue Book data since 2001, assuming a vehicle in a base trim, a generic color such as black or white, and a mileage of approximately 12,000 per year.Keep in mind that the auto market was heavily affected in 2020 and beyond. Automakers selling new cars during the COVID pandemic raised prices which caused a spike in demand in the used car market as people tried to save money. Many automakers, however, did not drop prices after the pandemic, they kept them so they could make a larger profit.This is why the most recent years of many vehicles have seemingly experienced less depreciation. Some may have even appreciated due to heightened levels of inflation created.Factors That Impact the Chevrolet Silverado 1500 Depreciation RateA recent study by J.D. Power found Chevrolet among the top-rated automakers for vehicle dependability. Kia ranks highest, while Buick stands in second. As for model-level awards, the Silverado HD received one of the four model-level awards for General Motors. While these ratings and awards showcase Chevrolet's reliability, some Silverado years experience more problems than others, which can affect the depreciation rate. Here are several other factors that can impact your vehicle's depreciation rate:\t\t \t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\tAge \t\t\t\t\t \t\t\t\t\tAge is a major factor that influences a vehicle’s depreciation rate. Overall, a vehicle depreciates faster in the initial stages of ownership, with up to one-fifth of its value lost within the first year and 40% over five years. That means if you buy a 2023 Chevrolet Silverado 1500 for $54,200, its value may drop to $21,680 by 2028. \t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\tBody Type \t\t\t\t\t \t\t\t\t\tYour vehicle’s body type, or body style, refers to the classification based on the shape, size, and arrangement of certain features. The main body types for all vehicles are sedans, coupes, hatchbacks, convertibles, station wagons, sports cars, sport-utility vehicles, minivans, and pickup trucks. In today’s North American auto market, pickup trucks, and small and midsize SUVs generally depreciate the slowest, while small luxury cars typically depreciate the fastest.The Chevrolet Silverado 1500 is a full-size, light-duty, half-ton pickup. The heavy-duty 2500 and 3500 models add to the Silverado options. Overall, pickup trucks tend to depreciate more slowly than other auto segments. Trucks also tend to hold their value longer than smaller cars, sedans, and even smaller SUVs. If market trends shift toward sedans, hatchbacks, and other more compact body types, depreciation rates on those vehicles may end up being similar to full-size pickups like the Silverado 1500. \t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\tMileage \t\t\t\t\t \t\t\t\t\tHigh mileage often reflects a high level of use. So, the more you use your vehicle, the more likely it is to show signs of wear and require more advanced maintenance or repairs. We based our depreciation graph on a 12,000-mile annual driving average, so if you use your vehicle more than that, it may depreciate faster. On the other hand, if you drive fewer than 12,000 miles per year, your vehicle may depreciate more slowly. \t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\tOverall Condition \t\t\t\t\t \t\t\t\t\tThe overall condition of your truck directly relates to how well it runs and how good it looks \u2014 both inside and out. Proper maintenance and care for your vehicle mean less wear and tear than a vehicle that hasn’t been cared for properly. For this reason, it’ll be worth more. If you keep up with your Silverado’s maintenance schedule, avoid damage to the mechanics and body, and keep the components in good shape, you have a much better chance of getting a high resale value. Plus, the more you get when you sell your vehicle, the lower the depreciation rate you have.It’s also important to remember that your Silverado may not be worth fixing after a certain point. If it costs almost as much or more to fix your vehicle than it would to get a new one, it may be time to call it quits rather than keep pouring money into a sinking ship. \t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\tColor \t\t\t\t\t \t\t\t\t\tStatistics show that a vehicle’s color also affects the depreciation rate. Jeweled colors such as yellow, orange, purple, red, and green tend to depreciate more slowly, with yellow being the color to depreciate the slowest at\u00a013.5% over three years. Black, white, and gray vehicles tend to have an average depreciation rate because they’re the most popular colors.On the other end of the spectrum, gold and brown depreciate much faster than average, making these colors the worst options if you want to retain your truck’s value for a long time. You can improve the resale value of your Silverado by purchasing one of the more slowly depreciating colors on the market. \t\tOther Costs of Chevrolet Silverado 1500 OwnershipThe depreciation rate of your Chevrolet Silverado 1500 is just one aspect of the total cost of ownership for your vehicle. There are other factors that can influence it, including:InsuranceCar insurance rates can vary among makes and models and usually depend on the attributes of the vehicle as well as the driver. In general, trims that provide more safety features and vehicle classes designed for less demanding use tend to have lower insurance rates because they reflect less risk to the insurance company.On average,\u00a0yearly insurance rates for a Chevrolet Silverado 1500 can cost around $1,340, which is less than the national average insurance cost of $2,148 for all cars. However, your exact rate may vary based on your insurance provider. In some cases, the cheapest insurance can dip to $1,088 per year, while the most expensive can be as high as $1,561 for full coverage. If you're going with a\u00a0liability-only policy, you may find rates as low as $512.MaintenanceRoutine maintenance and care for your Chevrolet Silverado 1500 ensure it continues to run efficiently and stays in good shape. The average repair costs for a Silverado 1500 are $711 per year. This aligns with the average repair costs for all full-size pickups and SUVs, which range between $690 and $1,000 annually. This typically includes regularly scheduled maintenance, such as the average cost of $140 to $472 just for spark plugs, depending on the model year. Using our graph, you can compare the maintenance costs according to Silverado 1500 model years.Remember that there are best and worst years of the Silverado 1500, and some years may be more costly to maintain than others. Specifically, the following model years are associated with reliability issues, including engine concerns, which can speed up the depreciation process:2001-20022003-20052006-20092012\u00a0There's also a higher-than-average chance for a $500 or more engine repair bill with the 2003 to 2013 Chevrolet Silverado models. Major transmission problems aren't as common but can happen more frequently with the 2002, 2005, and 2012 Silverado trucks.The Best Model Year To Buy a Chevrolet Silverado 1500Based on factors including price and reliability (but not depreciation), our choice for the best Chevrolet Silverado model years to buy are 2010-2011, 2013-2014, 2015-2018, and 2019-2021, but check out our article on the best and worst years of the Silverado to get the whole story.Buying a Chevrolet Silverado 1500 New vs. Used\t\t 20-Year Projection Table20-Year ProjectionYears Since PurchasedDepreciated ValueWith Inflation1$31,254$34,5032$25,011$29,2273$21,018$24,6894$19,711$23,2405$17,642$20,7016$16,117$18,8657$13,358$15,6598$11,943$14,0829$10,854$12,84110$8,095$9,68011$7,224$8,78112$7,187$8,98313$4,792$6,09414$4,973$6,39215$4,538$5,74416$3,557$4,46017$2,759$3,45018$2,214$2,78719$2,360$2,95220$2,287$2,817 \t\tA new 2023 Chevrolet Silverado 1500 has an initial MSRP of $36,300. Because of the higher inflation levels, it could depreciate more slowly over the next several years. Within three years, the same 2023 Silverado 1500 would have an approximate resale value of $19,906, for a total accumulated depreciation of $21,018. In comparison, a used 2021 Silverado 1500 has a resale value of $23,017 when factoring in its depreciation within the same three-year period.When buying a used truck, it's important to research the average depreciation rates for the make and model you're thinking about. You'll want to consider the other ownership costs, including insurance and maintenance, to help you buy a used vehicle that will give you the most value.MethodologyWe base our findings on the residual value left over after depreciation and the cost to maintain or repair each model year of the Chevrolet Silverado 1500 per mile. The data presented in this article applies to the Chevrolet Silverado 1500 Work Truck (WT) base trim. The Silverado 1500 has eight trims in total, and higher-level trims with additional options may hold their value better in the long term. Additionally, the condition of the vehicle and whether you sell to a dealer or a private buyer has a large impact on resale value too.Keep in mind, there are large economic factors at play here too and the sale of new cars has caused shifts in the used market too. There is a stark difference in the cost of vehicles due to car manufacturers seeking higher profit margins after COVID as detailed by CNN and posted by CBS channel 58:\"The auto industry saw sky-high profits even as sales plummeted. Domestic manufacturers of cars and car parts saw a profit of $32 billion through the third quarter of 2022 (the latest data available) \u2014 their largest profit since 2016. Car dealerships also reported record-breaking profits through Q3, according to auto-retail advisers Haig Partners.That's because pandemic-era pent-up consumer demand remained strong as supply shifted, allowing automakers to increase their prices and their profit margins. Cars and trucks were sold nearly as soon as they hit dealership lots, and the average price paid for a vehicle in December soared to a near-record high of $46,382, according to J.D. Power.Data from the Labor Department's November Consumer Price Index shows American consumers are paying about 20% more for cars than they were in 2019.The trend could continue into next year \u2014 research website Edmunds expects new-car sales to hit 14.8 million in 2023, a marginal increase from last year but well below pre-pandemic levels.The auto industry has entered a new era: Less choice, higher prices, and larger profit margins. So far it seems to be working for them.\"This shift by car companies to create higher profit margins by taking advantage of the heavily-reported-on chip shortage panic of COVID has had rebounding effects upon the value of used cars.\t\t \t\t\t\t\t\tAccording to Forbes: \t\t\t\t\t\t\"Shoppers looking for the most popular models like the Maverick are still finding bare cupboards at new-vehicle dealerships. That, in turn, sends them over to the used vehicle market, where its own supply issues have driven prices of the highest-demand models to record highs.\" \t\t\t\t\t\t \t\t\t\t\t\t\t\tDismiss this alert. \t\t\t \t\tBe aware that newer years (the latest 3-4 model years) may be inflated in price because of this and depending on how big this problem is for the model you are considering - it may even be inflating the price of the older model years. Frequently Asked Questions About Vehicle Depreciation \t\t \t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\tDo Chevrolet Silverado 1500s hold their value? \t\t\t\t\t \t\t\t\t\tThe Chevrolet Silverado 1500 comes in third of the top full-size pickups that hold value over time. This is just under the Toyota Tundra (number one) and the GMC Sierra 1500 (number two), according to iSeeCars. This is likely due to many Chevrolet models’ reliability, durability, and safety. \t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\tWhat are the best years of Chevrolet Silverado 1500 to buy and which ones should you avoid? \t\t\t\t\t \t\t\t\t\tThe best years for the Chevrolet Silverado 1500 are 2010 to 2011, 2013, 2014, 2015 to 2018, and 2019 to 2021. The years you should avoid at all costs are:2001-20052006-20092012Most of the issues for these Silverado years are due to engine problems, but transmission complications and brake failure are also common troubles for these model years. \t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\tWhat's considered high mileage for a Chevrolet Silverado 1500? \t\t\t\t\t \t\t\t\t\tPickup trucks are versatile and can be used in a variety of ways. Therefore, it’s challenging to determine an average mileage for the Chevrolet Silverado 1500. With proper maintenance and gentle driving, your Silverado can last more than 200,000 miles, while others that have been heavily used and abused may only last 100,000 miles. High mileage is usually better determined by a professional technician that can evaluate the truck. However, our data suggests that high mileage can generally be around 130,000 miles or more.Most of the oldest years we have data on (1996 to 2006) range between an average of 170,000 to 195,000 miles. This suggests that these vehicles are the few still left on the road because they have less mileage and, therefore, less wear and tear than average. But at this point, they’re probably only a few thousand miles away from being sold as scrap to the nearest junkyard.Only two of the older years have an average mileage of over 200,000: the 1997 at 258,000 miles and the 1999 at 250,000 miles. High mileage for newer vehicles may differ, but assuming it improves with time, you may get even more out of a high-mileage vehicle than we see now. If you’d rather buy low mileage, for 2014 and forward the average mileage is less than 130,000. \t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\tHow old of a Chevrolet Silverado 1500 should you buy to avoid most of the depreciation? \t\t\t\t\t \t\t\t\t\tThe sweet spot for a Chevrolet Silverado 1500 ranges from 2005 through 2015. These years may see the lowest depreciation values over time. Based on this sweet spot, it’s better to stick with a vehicle that’s no more than eight years old. \t\tReferences(2022.) The Best and Worst Car Colors for Resale Value. iSeeCars. Retrieved August 18, 2023, from https:\/\/www.iseecars.com\/car-color-study(2023.) Compare the Cost of Chevrolet Silverado Insurance by Model Year and Company. Money Geek. Retrieved August 4, 2023, from https:\/\/www.moneygeek.com\/insurance\/auto\/chevy-silverado-insurance\/(2023.) Best Resale Value Full-Size Trucks for 2023. iSeeCars. Retrieved August 4, 2023, from https:\/\/www.iseecars.com\/resale-value\/full-size-trucks(2023.) Average Car Insurance Cost for August 2023.\u00a0NerdWallet. Retrieved August 11, 2023, from https:\/\/www.nerdwallet.com\/article\/insurance\/how-much-is-car-insurance","keywords":"","datePublished":"2023-08-31T18:52:34-05:00","dateModified":"2024-12-11T22:39:35-05:00","author":{"@type":"Person","name":"FIXD Research Team","description":"At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. 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Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.","url":"https:\/\/www.fixdapp.com\/blog\/author\/fixd\/","sameAs":["https:\/\/fixdapp.mystagingwebsite.com\/author\/fixd-research-team\/"],"image":{"@type":"ImageObject","url":"https:\/\/secure.gravatar.com\/avatar\/621befe09d4c5cf9b0b93eeb3e8a3192?s=96&d=robohash&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"FIXD","url":"https:\/\/www.fixdapp.com","logo":{"@type":"ImageObject","url":"https:\/\/www.fixdapp.com\/wp-content\/uploads\/2022\/06\/FIXDLogo_FullColor-1.png","width":"1000","height":"366"}},"image":[{"@type":"ImageObject","@id":"https:\/\/www.fixdapp.com\/car-buying\/chevrolet-silverado-depreciation-rate-curve-graphed\/#primaryimage","url":"https:\/\/www.fixdapp.com\/wp-content\/uploads\/2023\/08\/Chevrolet-Silverado-1500.jpg","width":"800","height":"600","caption":"Chevrolet Silverado 1500 display."},{"@type":"ImageObject","url":"https:\/\/www.fixdapp.com\/wp-content\/uploads\/2023\/08\/Chevrolet-Silvarado-1500-Depreciation.png","width":1920,"height":1080,"caption":"A chart showing the depreciation of the Chevrolet Silverado It shows the best time to own\/purchase a Chevrolet Silverado"},{"@type":"ImageObject","url":"https:\/\/www.fixdapp.com\/wp-content\/uploads\/2023\/08\/Toy-car-on-a-stack-of-coins-scaled.jpeg","width":1920,"height":1280,"caption":"Miniature yellow car model on growing stack of coins money on nature green background, "}]}] </script> <style></style> <style type="text/css"></style><!-- Add HTML code in the header, the footer or in the content as a shortcode. ## In the header For example, you can add the following code to the header for loading the jQuery library from Google CDN: <script src="https://ajax.googleapis.com/ajax/libs/jquery/3.7.1/jquery.min.js"></script> or the following one for loading the Bootstrap library from jsDelivr: <link href="https://cdn.jsdelivr.net/npm/bootstrap@5.3.2/dist/css/bootstrap.min.css" rel="stylesheet" integrity="sha384-T3c6CoIi6uLrA9TneNEoa7RxnatzjcDSCmG1MXxSR1GAsXEV/Dwwykc2MPK8M2HN" crossorigin="anonymous"> ## As shortcode You can use it in a post/page as [ccj id="shortcode_id"]. 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body' ).animate({ scrollTop: jQuery( href ).offset().top }, 500 ); } ); }) }()</script> <!-- end Simple Custom CSS and JS --> <!-- start Simple Custom CSS and JS --> <style></style> <!-- end Simple Custom CSS and JS --> <!-- start Simple Custom CSS and JS --> <style></style> <!-- end Simple Custom CSS and JS --> <!-- start Simple Custom CSS and JS --> <style> div#top-bar { display: none; } /* .fixd-default-sticky-topbar, .fixd-research-sticky-topbar, .fixd-faq-sticky-topbar, .fixd-product-sticky-topbar { display: none; } body.show-fixd-default-footer-btn .fixd-default-sticky-topbar { display: block; } body.show-fixd-research-footer-btn .fixd-research-sticky-topbar { display: block; } body.show-fixd-faq-footer-btn .fixd-faq-sticky-topbar { display: block; } body.show-fixd-product-footer-btn .fixd-product-sticky-topbar { display: block; } */ .fixdapp-header { box-shadow: 0px 5px 80px rgba(0,0,0,0.1); } .fixdapp-desktop-primary-menu nav ul.elementor-nav-menu li.menu-item ul.sub-menu { /* 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} nav.elementor-nav-menu--dropdown.elementor-nav-menu__container .elementor-nav-menu li ul.sub-menu.elementor-nav-menu--dropdown { background-color: #f6f6f6; } } /**-- Mobile View --**/ @media only screen and (max-width: 767px) { nav.elementor-nav-menu--dropdown.elementor-nav-menu__container .elementor-nav-menu li a { padding: 15px 25px; } }</style> <!-- end Simple Custom CSS and JS --> <!-- start Simple Custom CSS and JS --> <style></style> <!-- end Simple Custom CSS and JS --> <!-- start Simple Custom CSS and JS --> <style></style> <!-- end Simple Custom CSS and JS --> <!-- start Simple Custom CSS and JS --> <style></style> <!-- end Simple Custom CSS and JS --> <style mill></style> <style id="wp-custom-css"> @media only screen and (max-width: 450px ) { li, p, a { word-break: break-word; } table { overflow-x: auto; display: block; } } @media only screen and (max-width: 359px){ [data-elementor-type="single-post"] .elementor-top-section > .elementor-container > .elementor-col-50 > 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var(--padding-block-end); } } html { overflow: hidden; } </style> <noscript><style id="rocket-lazyload-nojs-css">.rll-youtube-player, [data-lazy-src]{display:none !important;}</style></noscript><style id="wpr-lazyload-bg-container"></style><style id="wpr-lazyload-bg-exclusion"></style> <noscript> <style id="wpr-lazyload-bg-nostyle"></style> </noscript> <script type="application/javascript">const rocket_pairs = []; const rocket_excluded_pairs = [];</script><meta name="generator" content="WP Rocket 3.18.1.5" data-wpr-features="wpr_lazyload_css_bg_img wpr_remove_unused_css wpr_lazyload_images wpr_lazyload_iframes wpr_cache_webp wpr_desktop" /></head> <body class="post-template-default single single-post postid-75806 single-format-standard wp-embed-responsive theme-default elementor-default elementor-kit-18810 elementor-page elementor-page-75806 elementor-page-49221"> <!-- GTM Container placement set to automatic --> <!-- Google Tag Manager (noscript) --> <noscript><iframe 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data-element_type="widget" data-widget_type="button.default"> <div class="elementor-widget-container"> <div class="elementor-button-wrapper"> <a class="elementor-button elementor-button-link elementor-size-sm" href="https://www.fixd.com/sensor-67?utm_source=website&utm_medium=blog&utm_campaign=bf" target="_blank"> <span class="elementor-button-content-wrapper"> <span class="elementor-button-text">TRY FIXD RISK-FREE</span> </span> </a> </div> </div> </div> </div> </div> </div> </section> <section data-particle_enable="false" data-particle-mobile-disabled="false" class="elementor-section elementor-top-section elementor-element elementor-element-f066f41 elementor-section-full_width elementor-section-stretched elementor-section-content-middle elementor-reverse-tablet elementor-reverse-mobile fixdapp-header elementor-section-height-default elementor-section-height-default" data-id="f066f41" data-element_type="section" data-settings="{"stretch_section":"section-stretched"}"> <div class="elementor-container elementor-column-gap-default"> <div class="elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-5b532d2 fixdapp-logo-n-menu-col" data-id="5b532d2" data-element_type="column"> <div class="elementor-widget-wrap elementor-element-populated"> <section data-particle_enable="false" data-particle-mobile-disabled="false" class="elementor-section elementor-inner-section elementor-element elementor-element-34a12f3 elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="34a12f3" data-element_type="section"> <div class="elementor-container elementor-column-gap-default"> <div class="elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-d78d997 fixdapp-logo-col" data-id="d78d997" data-element_type="column"> <div class="elementor-widget-wrap elementor-element-populated"> <div class="elementor-element elementor-element-8132c0c elementor-widget 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data-id="a8d8a15" data-element_type="widget" data-settings="{"layout":"horizontal","submenu_icon":{"value":"<svg class=\"e-font-icon-svg e-fas-caret-down\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M31.3 192h257.3c17.8 0 26.7 21.5 14.1 34.1L174.1 354.8c-7.8 7.8-20.5 7.8-28.3 0L17.2 226.1C4.6 213.5 13.5 192 31.3 192z\"><\/path><\/svg>","library":"fa-solid"},"toggle":"burger"}" role="button" data-widget_type="nav-menu.default"> <div class="elementor-widget-container"> <nav aria-label="Menu" class="elementor-nav-menu--main elementor-nav-menu__container elementor-nav-menu--layout-horizontal e--pointer-underline e--animation-fade"> <ul id="menu-1-a8d8a15" class="elementor-nav-menu"><li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children menu-item-100680"><a href="#" class="elementor-item elementor-item-anchor">Products</a> <ul class="sub-menu elementor-nav-menu--dropdown"> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-100681"><a href="https://shop.fixdapp.com/lp/sensor67-blog" class="elementor-sub-item">Buy the FIXD Sensor</a></li> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-101278"><a href="https://www.fixdapp.com/lp/premium-free-trial/" class="elementor-sub-item">Try FIXD Premium</a></li> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-103945"><a href="https://www.fixdapp.com/faq" class="elementor-sub-item">FIXD FAQ</a></li> </ul> </li> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children menu-item-101460"><a href="#" class="elementor-item elementor-item-anchor">Check Engine Light</a> <ul class="sub-menu elementor-nav-menu--dropdown"> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children menu-item-101280"><a href="#" class="elementor-sub-item elementor-item-anchor">Reading, Diagnosing, & Resetting</a> <ul class="sub-menu elementor-nav-menu--dropdown"> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-101305"><a href="http://www.fixdapp.com/check-engine-light/most-common-reason-for-check-engine-light/" class="elementor-sub-item">13 Common Reasons for a CEL</a></li> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-101303"><a href="http://www.fixdapp.com/check-engine-light/how-to-read-a-check-engine-light/" class="elementor-sub-item">How to Read a CEL</a></li> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-101302"><a href="http://www.fixdapp.com/check-engine-light/check-engine-light-meaning/" class="elementor-sub-item">What is a Check Engine Light (CEL)</a></li> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-101306"><a href="http://www.fixdapp.com/check-engine-light/how-to-reset-check-engine-light/" class="elementor-sub-item">How to Reset or Clear Your CEL</a></li> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-101304"><a href="http://www.fixdapp.com/check-engine-light/where-can-i-get-my-check-engine-light-checked-for-free/" class="elementor-sub-item">Get Your CEL Scanned for Free</a></li> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-101458"><a href="https://www.fixdapp.com/check-engine-light/" class="elementor-sub-item">See All…</a></li> </ul> </li> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children menu-item-101281"><a href="#" class="elementor-sub-item elementor-item-anchor">Common Engine Light Causes By Car Brand</a> <ul class="sub-menu elementor-nav-menu--dropdown"> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-101307"><a href="http://www.fixdapp.com/check-engine-light/toyota-check-engine-light-top-5-causes-for-each-model/" class="elementor-sub-item">Toyota Check Engine Light</a></li> <li class="menu-item menu-item-type-custom 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class="elementor-sub-item" tabindex="-1">How to Reset or Clear Your CEL</a></li> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-101304"><a href="http://www.fixdapp.com/check-engine-light/where-can-i-get-my-check-engine-light-checked-for-free/" class="elementor-sub-item" tabindex="-1">Get Your CEL Scanned for Free</a></li> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-101458"><a href="https://www.fixdapp.com/check-engine-light/" class="elementor-sub-item" tabindex="-1">See All…</a></li> </ul> </li> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children menu-item-101281"><a href="#" class="elementor-sub-item elementor-item-anchor" tabindex="-1">Common Engine Light Causes By Car Brand</a> <ul class="sub-menu elementor-nav-menu--dropdown"> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-101307"><a href="http://www.fixdapp.com/check-engine-light/toyota-check-engine-light-top-5-causes-for-each-model/" class="elementor-sub-item" tabindex="-1">Toyota Check Engine Light</a></li> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-101308"><a href="http://www.fixdapp.com/check-engine-light/ford-check-engine-light-top-5-causes-for-each-model/" class="elementor-sub-item" tabindex="-1">Ford Check Engine Light</a></li> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-101310"><a href="http://www.fixdapp.com/check-engine-light/chevrolet-check-engine-light-top-5-causes-for-each-model/" class="elementor-sub-item" tabindex="-1">Chevrolet Check Engine Light</a></li> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-101309"><a href="http://www.fixdapp.com/check-engine-light/honda-check-engine-light-top-5-causes-for-each-model/" class="elementor-sub-item" tabindex="-1">Honda Check Engine Light</a></li> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-101311"><a href="http://www.fixdapp.com/check-engine-light/nissan-check-engine-light-top-5-causes-for-each-model/" class="elementor-sub-item" tabindex="-1">Nissan Check Engine Light</a></li> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-101312"><a href="https://www.fixdapp.com/check-engine-light/" class="elementor-sub-item" tabindex="-1">See All…</a></li> </ul> </li> </ul> </li> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children menu-item-101461"><a href="#" class="elementor-item elementor-item-anchor" tabindex="-1">OBD2 Codes</a> <ul class="sub-menu elementor-nav-menu--dropdown"> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children menu-item-101283"><a href="#" class="elementor-sub-item elementor-item-anchor" tabindex="-1">Learn About OBD2</a> <ul class="sub-menu elementor-nav-menu--dropdown"> <li 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menu-item-object-custom menu-item-101319"><a href="https://www.fixdapp.com/blog/p0430-code/" class="elementor-sub-item" tabindex="-1">P0430</a></li> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-101320"><a href="https://www.fixdapp.com/blog/p0455-code/" class="elementor-sub-item" tabindex="-1">P0455</a></li> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-101321"><a href="https://www.fixdapp.com/blog/p0174-code/" class="elementor-sub-item" tabindex="-1">P0174</a></li> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-101322"><a href="https://www.fixdapp.com/blog/p0449-code/" class="elementor-sub-item" tabindex="-1">P0449</a></li> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-101323"><a href="https://www.fixdapp.com/blog/p0128-code/" class="elementor-sub-item" tabindex="-1">P0128</a></li> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-101324"><a href="https://www.fixdapp.com/blog/p0101-code/" class="elementor-sub-item" tabindex="-1">P0101</a></li> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-101325"><a href="https://www.fixdapp.com/blog/p0303-code/" class="elementor-sub-item" tabindex="-1">P0303</a></li> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-101326"><a href="https://www.fixdapp.com/obd2-codes/" class="elementor-sub-item" tabindex="-1">See All Codes…</a></li> </ul> </li> </ul> </li> <li class="menu-item menu-item-type-custom menu-item-object-custom current-menu-ancestor menu-item-has-children menu-item-101459"><a href="#" class="elementor-item elementor-item-anchor" tabindex="-1">Used Car Buying</a> <ul class="sub-menu elementor-nav-menu--dropdown"> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children menu-item-101290"><a href="#" class="elementor-sub-item elementor-item-anchor" tabindex="-1">Popular 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menu-item-101350"><a href="https://www.fixdapp.com/car-buying/toyota-prius-depreciation-rate-curve-graphed/" class="elementor-sub-item" tabindex="-1">Toyota Prius</a></li> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-101292"><a href="https://www.fixdapp.com/car-buying/" class="elementor-sub-item" tabindex="-1">See All…</a></li> </ul> </li> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children menu-item-101286"><a href="#" class="elementor-sub-item elementor-item-anchor" tabindex="-1">How to Buy a Used Car</a> <ul class="sub-menu elementor-nav-menu--dropdown"> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-101327"><a href="https://www.fixdapp.com/blog/10-commandments-of-car-buying/" class="elementor-sub-item" tabindex="-1">Top 10 Tips for Used Car Buying</a></li> <li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-101328"><a 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data-elementor-type="single-post" data-elementor-id="49221" class="elementor elementor-49221 elementor-location-single post-75806 post type-post status-publish format-standard has-post-thumbnail hentry category-car-buying mv-content-wrapper" data-elementor-post-type="elementor_library"> <section data-particle_enable="false" data-particle-mobile-disabled="false" class="elementor-section elementor-top-section elementor-element elementor-element-6f79d469 elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="6f79d469" data-element_type="section"> <div class="elementor-container elementor-column-gap-default"> <div class="elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-276e8d0f" data-id="276e8d0f" data-element_type="column"> <div class="elementor-widget-wrap elementor-element-populated"> <div class="elementor-element elementor-element-5a0c8115 elementor-widget elementor-widget-breadcrumbs" data-id="5a0c8115" data-element_type="widget" data-widget_type="breadcrumbs.default"> <div class="elementor-widget-container"> <p id="breadcrumbs"><span><span><a href="https://www.fixdapp.com/">Home ></a></span> <span><a href="https://www.fixdapp.com/car-buying/">Used Car Buying</a></span> <span class="breadcrumb_last" aria-current="page">Chevrolet Silverado | Depreciation Rate & Curve Graphed</span></span></p> </div> </div> <div class="elementor-element elementor-element-4fd19646 elementor-widget elementor-widget-theme-post-title elementor-page-title elementor-widget-heading" data-id="4fd19646" data-element_type="widget" data-widget_type="theme-post-title.default"> <div class="elementor-widget-container"> <h1 class="elementor-heading-title elementor-size-default">Chevrolet Silverado | Depreciation Rate & Curve Graphed</h1> </div> </div> <div class="elementor-element elementor-element-59fd517a elementor-widget elementor-widget-heading" data-id="59fd517a" data-element_type="widget" data-widget_type="heading.default"> <div class="elementor-widget-container"> <h2 class="elementor-heading-title elementor-size-default"><p>On average, the Chevrolet Silverado 1500 loses approximately 45.7% of its value in the first five years. Based on the depreciation curve and maintenance cost per mile, we place the ownership sweet spot for the Silverado as the 2005-2015 model years. To get at least five years in the sweet spot, do not buy anything older than 2009.</p> </h2> </div> </div> <div class="elementor-element elementor-element-459a181b elementor-widget elementor-widget-post-info" data-id="459a181b" data-element_type="widget" data-widget_type="post-info.default"> <div class="elementor-widget-container"> <ul class="elementor-inline-items elementor-icon-list-items elementor-post-info"> <li class="elementor-icon-list-item elementor-repeater-item-d4aa64d elementor-inline-item" > <a href="https://www.fixdapp.com/blog/author/fixd/"> <span class="elementor-icon-list-icon"> <svg aria-hidden="true" class="e-font-icon-svg e-far-user-circle" viewBox="0 0 496 512" xmlns="http://www.w3.org/2000/svg"><path d="M248 104c-53 0-96 43-96 96s43 96 96 96 96-43 96-96-43-96-96-96zm0 144c-26.5 0-48-21.5-48-48s21.5-48 48-48 48 21.5 48 48-21.5 48-48 48zm0-240C111 8 0 119 0 256s111 248 248 248 248-111 248-248S385 8 248 8zm0 448c-49.7 0-95.1-18.3-130.1-48.4 14.9-23 40.4-38.6 69.6-39.5 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class="elementor-toc__header"> <div class="elementor-toc__header-title"> TABLE OF CONTENTS </div> <div class="elementor-toc__toggle-button elementor-toc__toggle-button--expand" role="button" tabindex="0" aria-controls="elementor-toc__712bc9a1" aria-expanded="true" aria-label="Open table of contents"><svg aria-hidden="true" class="e-font-icon-svg e-fas-chevron-down" viewBox="0 0 448 512" xmlns="http://www.w3.org/2000/svg"><path d="M207.029 381.476L12.686 187.132c-9.373-9.373-9.373-24.569 0-33.941l22.667-22.667c9.357-9.357 24.522-9.375 33.901-.04L224 284.505l154.745-154.021c9.379-9.335 24.544-9.317 33.901.04l22.667 22.667c9.373 9.373 9.373 24.569 0 33.941L240.971 381.476c-9.373 9.372-24.569 9.372-33.942 0z"></path></svg></div> <div class="elementor-toc__toggle-button elementor-toc__toggle-button--collapse" role="button" tabindex="0" aria-controls="elementor-toc__712bc9a1" aria-expanded="true" aria-label="Close table of contents"><svg aria-hidden="true" class="e-font-icon-svg e-fas-chevron-up" viewBox="0 0 448 512" xmlns="http://www.w3.org/2000/svg"><path d="M240.971 130.524l194.343 194.343c9.373 9.373 9.373 24.569 0 33.941l-22.667 22.667c-9.357 9.357-24.522 9.375-33.901.04L224 227.495 69.255 381.516c-9.379 9.335-24.544 9.317-33.901-.04l-22.667-22.667c-9.373-9.373-9.373-24.569 0-33.941L207.03 130.525c9.372-9.373 24.568-9.373 33.941-.001z"></path></svg></div> </div> <div id="elementor-toc__712bc9a1" class="elementor-toc__body"> <div class="elementor-toc__spinner-container"> <svg class="elementor-toc__spinner eicon-animation-spin e-font-icon-svg e-eicon-loading" aria-hidden="true" viewBox="0 0 1000 1000" xmlns="http://www.w3.org/2000/svg"><path d="M500 975V858C696 858 858 696 858 500S696 142 500 142 142 304 142 500H25C25 237 238 25 500 25S975 237 975 500 763 975 500 975Z"></path></svg> </div> </div> </div> </div> <div class="elementor-element elementor-element-59dc44b elementor-hidden-mobile elementor-widget elementor-widget-html" data-id="59dc44b" data-element_type="widget" data-widget_type="html.default"> <div class="elementor-widget-container"> <div class="klaviyo-form-XYrYyk"></div> </div> </div> <div class="elementor-element elementor-element-14cd1b9 elementor-hidden-desktop elementor-hidden-tablet elementor-widget elementor-widget-html" data-id="14cd1b9" data-element_type="widget" data-widget_type="html.default"> <div class="elementor-widget-container"> <div class="klaviyo-form-Vqs3Ri"></div> </div> </div> <div class="elementor-element elementor-element-5db12f6d fixd-post-content-wrapper elementor-widget elementor-widget-theme-post-content" data-id="5db12f6d" data-element_type="widget" data-widget_type="theme-post-content.default"> <div class="elementor-widget-container"> <div data-elementor-type="wp-post" data-elementor-id="75806" class="elementor elementor-75806" data-elementor-post-type="post"> <section data-particle_enable="false" data-particle-mobile-disabled="false" class="elementor-section elementor-top-section elementor-element elementor-element-5219974f elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="5219974f" data-element_type="section"> <div class="elementor-container elementor-column-gap-default"> <div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-52e39c94" data-id="52e39c94" data-element_type="column"> <div class="elementor-widget-wrap elementor-element-populated"> <div class="elementor-element elementor-element-bc8f7b2 elementor-widget elementor-widget-text-editor" data-id="bc8f7b2" data-element_type="widget" data-widget_type="text-editor.default"> <div class="elementor-widget-container"> <p><em>Find the depreciation rate of your Chevrolet Silverado 1500 in the graph below.</em></p><p><img data-perfmatters-preload fetchpriority="high" fetchpriority="high" decoding="async" class="alignnone size-full wp-image-76472" src="https://www.fixdapp.com/wp-content/uploads/2023/08/Chevrolet-Silvarado-1500-Depreciation.png.webp" alt="A chart showing the depreciation of the Chevrolet Silverado It shows the best time to own/purchase a Chevrolet Silverado" width="1920" height="1080" /></p><p>A vehicle starts losing value from the moment of purchase, and the Chevrolet Silverado 1500 is no different. You’ll see the greatest amount of depreciation during the first year after your purchase, but after that first 12-month period, your vehicle will depreciate more slowly each year until it hits the five-year mark. Different makes and models depreciate at varying rates, though, so knowing the depreciation rate of a specific vehicle can help you understand its long-term value and total cost of ownership.</p><p>Keep in mind that just because the vehicle costs the least to own in the sweet spot we have outlined here, you still may not want to own the vehicle during these depreciation sweet spot years. Although vehicles depreciate less as they get older, they have more repairs. Duh right? However, keep in mind that repairs don’t just cost you money, they cost you time. Reliability is the difference between being able to make it to your destination on time or missing an opportunity because the car broke down.</p><p>Check out our article on the <a href="https://www.fixdapp.com/car-reviews/best-worst-years-of-chevrolet-silverado-graphs-owner-surveys/" target="_blank" rel="noopener noreferrer">best and worst years of the Chevrolet Silverado</a> to see our reliability ratings for all years of the Silverado between 2001-2021. We also cover MPG, safety ratings, and a number of other factors. We pulled data from Silverados registered in our app and surveyed owners to get you data-backed answers on just how good or bad each year of the Silverado is.</p><p>If you want to know the depreciation and maintenance costs for your particular vehicle, use our free “Total Cost of Ownership” tool available in the FIXD App – <a href="https://play.google.com/store/apps/details?id=com.fixdapp.two&hl=en_US&gl=US" target="_blank" rel="noopener noreferrer">Android</a> or <a href="https://apps.apple.com/us/app/fixd-obd2-scanner/id957168651" target="_blank" rel="noopener noreferrer">IOS</a>.</p><p>If you like our online tools and articles consider purchasing our FIXD sensor <a href="https://shop.fixdapp.com/lp/sensor67-blog" target="_blank" rel="noopener noreferrer">for $19.99 (this is 67% OFF)</a>. It’s our flagship product. With it, you scan your car for common engine problems.</p><p>If our sensor detects any problems with the engine, our app will clearly explain:</p><ol><li>What could have caused it and</li><li>How much the possible repairs may cost.</li></ol><p>If you’d like, we’ll even show you trusted repair shops in your area where you can get your ride fixed through <strong><a href="https://repairpal.com/" rel="nofollow" >RepairPal</a></strong>. The total cost of ownership feature within the app totals your maintenance costs, repairs, and depreciation (Sensor + App). This is free on the app.</p> </div> </div> <div class="elementor-element elementor-element-f880e5b elementor-widget__width-initial elementor-widget elementor-widget-text-editor" data-id="f880e5b" data-element_type="widget" data-widget_type="text-editor.default"> <div class="elementor-widget-container"> <h2>Chevrolet Silverado 1500 Depreciation</h2><div><table><tbody><tr><td style="width: 19.2171%;"><strong>Model Years</strong></td><td style="width: 13.0011%;"><strong>Mileag</strong><strong>e</strong></td><td style="width: 24.7381%; text-align: center;"><strong>Amount Depreciated</strong></td><td style="width: 32.0177%; text-align: center;"><strong>Residual Value Percentage</strong></td><td style="width: 10.9341%;"><strong>Resale Valu</strong><strong>e</strong></td></tr><tr><td style="width: 19.2171%; text-align: center;">2001</td><td style="width: 13.0011%; text-align: center;">264,000</td><td style="width: 24.7381%; text-align: center;">$18,273.88</td><td style="width: 32.0177%; text-align: center;">8.2%</td><td style="width: 10.9341%; text-align: center;">$1,626</td></tr><tr><td style="width: 19.2171%; text-align: center;">2002</td><td style="width: 13.0011%; text-align: center;">252,000</td><td style="width: 24.7381%; text-align: center;">$20,549.11</td><td style="width: 32.0177%; text-align: center;">7.8%</td><td style="width: 10.9341%; text-align: center;">$1,734</td></tr><tr><td style="width: 19.2171%; text-align: center;">2003</td><td style="width: 13.0011%; text-align: center;">240,000</td><td style="width: 24.7381%; text-align: center;">$22,010.07</td><td style="width: 32.0177%; text-align: center;">6.3%</td><td style="width: 10.9341%; text-align: center;">$1,490</td></tr><tr><td style="width: 19.2171%; text-align: center;">2004</td><td style="width: 13.0011%; text-align: center;">228,000</td><td style="width: 24.7381%; text-align: center;">$24,287.77</td><td style="width: 32.0177%; text-align: center;">6.5%</td><td style="width: 10.9341%; text-align: center;">$1,692</td></tr><tr><td style="width: 19.2171%; text-align: center;">2005</td><td style="width: 13.0011%; text-align: center;">216,000</td><td style="width: 24.7381%; text-align: center;">$25,151.13</td><td style="width: 32.0177%; text-align: center;">6.1%</td><td style="width: 10.9341%; text-align: center;">$1,637</td></tr><tr><td style="width: 19.2171%; text-align: center;">2006</td><td style="width: 13.0011%; text-align: center;">204,000</td><td style="width: 24.7381%; text-align: center;">$18,934.59</td><td style="width: 32.0177%; text-align: center;">7.6%</td><td style="width: 10.9341%; text-align: center;">$1,568</td></tr><tr><td style="width: 19.2171%; text-align: center;">2007</td><td style="width: 13.0011%; text-align: center;">192,000</td><td style="width: 24.7381%; text-align: center;">$21,052.66</td><td style="width: 32.0177%; text-align: center;">9.8%</td><td style="width: 10.9341%; text-align: center;">$2,290</td></tr><tr><td style="width: 19.2171%; text-align: center;">2008</td><td style="width: 13.0011%; text-align: center;">180,000</td><td style="width: 24.7381%; text-align: center;">$19,821.75</td><td style="width: 32.0177%; text-align: center;">12.5%</td><td style="width: 10.9341%; text-align: center;">$2,831</td></tr><tr><td style="width: 19.2171%; text-align: center;">2009</td><td style="width: 13.0011%; text-align: center;">168,000</td><td style="width: 24.7381%; text-align: center;">$20,456.18</td><td style="width: 32.0177%; text-align: center;">13.7%</td><td style="width: 10.9341%; text-align: center;">$3,238</td></tr><tr><td style="width: 19.2171%; text-align: center;">2010</td><td style="width: 13.0011%; text-align: center;">156,000</td><td style="width: 24.7381%; text-align: center;">$23,346.76</td><td style="width: 32.0177%; text-align: center;">13.2%</td><td style="width: 10.9341%; text-align: center;">$3,558</td></tr><tr><td style="width: 19.2171%; text-align: center;">2011</td><td style="width: 13.0011%; text-align: center;">144,000</td><td style="width: 24.7381%; text-align: center;">$20,990.40</td><td style="width: 32.0177%; text-align: center;">19.8%</td><td style="width: 10.9341%; text-align: center;">$5,179</td></tr><tr><td style="width: 19.2171%; text-align: center;">2012</td><td style="width: 13.0011%; text-align: center;">132,000</td><td style="width: 24.7381%; text-align: center;">$21,956.92</td><td style="width: 32.0177%; text-align: center;">19.9%</td><td style="width: 10.9341%; text-align: center;">$5,447</td></tr><tr><td style="width: 19.2171%; text-align: center;">2013</td><td style="width: 13.0011%; text-align: center;">120,000</td><td style="width: 24.7381%; text-align: center;">$22,399.38</td><td style="width: 32.0177%; text-align: center;">22.3%</td><td style="width: 10.9341%; text-align: center;">$6,417</td></tr><tr><td style="width: 19.2171%; text-align: center;">2014</td><td style="width: 13.0011%; text-align: center;">108,000</td><td style="width: 24.7381%; text-align: center;">$21,819.19</td><td style="width: 32.0177%; text-align: center;">29.9%</td><td style="width: 10.9341%; text-align: center;">$9,317</td></tr><tr><td style="width: 19.2171%; text-align: center;">2015</td><td style="width: 13.0011%; text-align: center;">96,000</td><td style="width: 24.7381%; text-align: center;">$21,548.92</td><td style="width: 32.0177%; text-align: center;">32.9%</td><td style="width: 10.9341%; text-align: center;">$10,549</td></tr><tr><td style="width: 19.2171%; text-align: center;">2016</td><td style="width: 13.0011%; text-align: center;">84,000</td><td style="width: 24.7381%; text-align: center;">$20,700.35</td><td style="width: 32.0177%; text-align: center;">36.8%</td><td style="width: 10.9341%; text-align: center;">$12,044</td></tr><tr><td style="width: 19.2171%; text-align: center;">2017</td><td style="width: 13.0011%; text-align: center;">72,000</td><td style="width: 24.7381%; text-align: center;">$18,706.65</td><td style="width: 32.0177%; text-align: center;">44.4%</td><td style="width: 10.9341%; text-align: center;">$14,955</td></tr><tr><td style="width: 19.2171%; text-align: center;">2018</td><td style="width: 13.0011%; text-align: center;">60,000</td><td style="width: 24.7381%; text-align: center;">$17,716.94</td><td style="width: 32.0177%; text-align: center;">48.6%</td><td style="width: 10.9341%; text-align: center;">$16,734</td></tr><tr><td style="width: 19.2171%; text-align: center;">2019</td><td style="width: 13.0011%; text-align: center;">48,000</td><td style="width: 24.7381%; text-align: center;">$15,678.52</td><td style="width: 32.0177%; text-align: center;">54.3%</td><td style="width: 10.9341%; text-align: center;">$18,644</td></tr><tr><td style="width: 19.2171%; text-align: center;">2020</td><td style="width: 13.0011%; text-align: center;">36,000</td><td style="width: 24.7381%; text-align: center;">$14,479.65</td><td style="width: 32.0177%; text-align: center;">57.9%</td><td style="width: 10.9341%; text-align: center;">$19,906</td></tr><tr><td style="width: 19.2171%; text-align: center;">2021</td><td style="width: 13.0011%; text-align: center;">24,000</td><td style="width: 24.7381%; text-align: center;">$10,378.94</td><td style="width: 32.0177%; text-align: center;">68.9%</td><td style="width: 10.9341%; text-align: center;">$23,017</td></tr><tr><td style="width: 19.2171%; text-align: center;">2022</td><td style="width: 13.0011%; text-align: center;">12,000</td><td style="width: 24.7381%; text-align: center;">$4,371.29</td><td style="width: 32.0177%; text-align: center;">86.1%</td><td style="width: 10.9341%; text-align: center;">$27,016</td></tr><tr><td style="width: 19.2171%; text-align: center;">2023</td><td style="width: 13.0011%; text-align: center;">N/A</td><td style="width: 24.7381%; text-align: center;">N/A</td><td style="width: 32.0177%; text-align: center;">N/A</td><td style="width: 10.9341%; text-align: center;">N/A</td></tr><tr><td style="width: 19.2171%; text-align: center;">2024</td><td style="width: 13.0011%; text-align: center;">N/A</td><td style="width: 24.7381%; text-align: center;">N/A</td><td style="width: 32.0177%; text-align: center;">N/A</td><td style="width: 10.9341%; text-align: center;">N/A</td></tr></tbody></table></div><p>The above chart highlights the approximate depreciation for a Chevrolet Silverado 1500. It’s based on <a href="https://www.kbb.com/whats-my-car-worth/" target="_blank" rel="noopener noreferrer">Kelley Blue Book data</a> since 2001, assuming a vehicle in a base trim, a generic color such as black or white, and a mileage of approximately 12,000 per year.</p><p>Keep in mind that the auto market was heavily affected in 2020 and beyond. Automakers selling new cars during the COVID pandemic raised prices which caused a spike in demand in the used car market as people tried to save money. <a href="https://www.cbs58.com/news/auto-sales-are-falling-but-profits-are-surging-welcome-to-the-new-normal#:~:text=On%20face%20value,working%20for%20them." target="_blank" rel="noopener noreferrer">Many automakers, however, did not drop prices after the pandemic</a>, they kept them so they could make a larger profit.</p><p>This is why the most recent years of many vehicles have seemingly experienced less depreciation. Some may have even appreciated due to heightened levels of inflation created.</p><h2>Factors That Impact the Chevrolet Silverado 1500 Depreciation Rate</h2><p><img decoding="async" class="alignnone size-full wp-image-76276" src="data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%202560%201707'%3E%3C/svg%3E" alt="Miniature yellow car model on growing stack of coins money on nature green background, " width="2560" height="1707" data-lazy-srcset="https://www.fixdapp.com/wp-content/uploads/2023/08/Toy-car-on-a-stack-of-coins-scaled.jpeg 1920w, https://www.fixdapp.com/wp-content/uploads/2023/08/Toy-car-on-a-stack-of-coins-300x200.jpeg 300w, https://www.fixdapp.com/wp-content/uploads/2023/08/Toy-car-on-a-stack-of-coins-1024x683.jpeg 1024w, https://www.fixdapp.com/wp-content/uploads/2023/08/Toy-car-on-a-stack-of-coins-768x512.jpeg 768w, https://www.fixdapp.com/wp-content/uploads/2023/08/Toy-car-on-a-stack-of-coins-1536x1024.jpeg 1536w, https://www.fixdapp.com/wp-content/uploads/2023/08/Toy-car-on-a-stack-of-coins-2048x1365.jpeg 2048w" data-lazy-sizes="(max-width: 2560px) 100vw, 2560px" data-lazy-src="https://www.fixdapp.com/wp-content/uploads/2023/08/Toy-car-on-a-stack-of-coins-scaled.jpeg" /><noscript><img decoding="async" class="alignnone size-full wp-image-76276" src="https://www.fixdapp.com/wp-content/uploads/2023/08/Toy-car-on-a-stack-of-coins-scaled.jpeg" alt="Miniature yellow car model on growing stack of coins money on nature green background, " width="2560" height="1707" srcset="https://www.fixdapp.com/wp-content/uploads/2023/08/Toy-car-on-a-stack-of-coins-scaled.jpeg 1920w, https://www.fixdapp.com/wp-content/uploads/2023/08/Toy-car-on-a-stack-of-coins-300x200.jpeg 300w, https://www.fixdapp.com/wp-content/uploads/2023/08/Toy-car-on-a-stack-of-coins-1024x683.jpeg 1024w, https://www.fixdapp.com/wp-content/uploads/2023/08/Toy-car-on-a-stack-of-coins-768x512.jpeg 768w, https://www.fixdapp.com/wp-content/uploads/2023/08/Toy-car-on-a-stack-of-coins-1536x1024.jpeg 1536w, https://www.fixdapp.com/wp-content/uploads/2023/08/Toy-car-on-a-stack-of-coins-2048x1365.jpeg 2048w" sizes="(max-width: 2560px) 100vw, 2560px" /></noscript></p><p>A recent study by J.D. Power found Chevrolet among the top-rated automakers for vehicle dependability. Kia ranks highest, while Buick stands in second. As for model-level awards, the Silverado HD received one of the four model-level awards for General Motors. While these ratings and awards showcase Chevrolet’s reliability, some Silverado years experience more problems than others, which can affect the depreciation rate. Here are several other factors that can impact your vehicle’s depreciation rate:</p> </div> </div> <div class="elementor-element elementor-element-6780eef elementor-widget elementor-widget-accordion" data-id="6780eef" data-element_type="widget" data-widget_type="accordion.default"> <div class="elementor-widget-container"> <div class="elementor-accordion"> <div class="elementor-accordion-item"> <h3 id="elementor-tab-title-1081" class="elementor-tab-title" data-tab="1" role="button" aria-controls="elementor-tab-content-1081" aria-expanded="false"> <span class="elementor-accordion-icon elementor-accordion-icon-left" aria-hidden="true"> <span class="elementor-accordion-icon-closed"><svg class="e-font-icon-svg e-fas-plus" viewBox="0 0 448 512" xmlns="http://www.w3.org/2000/svg"><path d="M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z"></path></svg></span> <span class="elementor-accordion-icon-opened"><svg class="e-font-icon-svg e-fas-minus" viewBox="0 0 448 512" xmlns="http://www.w3.org/2000/svg"><path d="M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z"></path></svg></span> </span> <a class="elementor-accordion-title" tabindex="0">Age</a> </h3> <div id="elementor-tab-content-1081" class="elementor-tab-content elementor-clearfix" data-tab="1" role="region" aria-labelledby="elementor-tab-title-1081"><p>Age is a major factor that influences a vehicle’s depreciation rate. Overall, a vehicle depreciates faster in the initial stages of ownership, with up to one-fifth of its value lost within the first year and 40% over five years. That means if you buy a 2023 Chevrolet Silverado 1500 for $54,200, its value may drop to $21,680 by 2028.</p></div> </div> <div class="elementor-accordion-item"> <h3 id="elementor-tab-title-1082" class="elementor-tab-title" data-tab="2" role="button" aria-controls="elementor-tab-content-1082" aria-expanded="false"> <span class="elementor-accordion-icon elementor-accordion-icon-left" aria-hidden="true"> <span class="elementor-accordion-icon-closed"><svg class="e-font-icon-svg e-fas-plus" viewBox="0 0 448 512" xmlns="http://www.w3.org/2000/svg"><path d="M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z"></path></svg></span> <span class="elementor-accordion-icon-opened"><svg class="e-font-icon-svg e-fas-minus" viewBox="0 0 448 512" xmlns="http://www.w3.org/2000/svg"><path d="M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z"></path></svg></span> </span> <a class="elementor-accordion-title" tabindex="0">Body Type</a> </h3> <div id="elementor-tab-content-1082" class="elementor-tab-content elementor-clearfix" data-tab="2" role="region" aria-labelledby="elementor-tab-title-1082"><p>Your vehicle’s body type, or body style, refers to the classification based on the shape, size, and arrangement of certain features. The main body types for all vehicles are sedans, coupes, hatchbacks, convertibles, station wagons, sports cars, sport-utility vehicles, minivans, and pickup trucks. In today’s North American auto market, pickup trucks, and small and midsize SUVs generally depreciate the slowest, while small luxury cars typically depreciate the fastest.</p><p>The Chevrolet Silverado 1500 is a full-size, light-duty, half-ton pickup. The heavy-duty 2500 and 3500 models add to the Silverado options. Overall, pickup trucks tend to depreciate more slowly than other auto segments. Trucks also tend to hold their value longer than smaller cars, sedans, and even smaller SUVs. If market trends shift toward sedans, hatchbacks, and other more compact body types, depreciation rates on those vehicles may end up being similar to full-size pickups like the Silverado 1500.</p></div> </div> <div class="elementor-accordion-item"> <h3 id="elementor-tab-title-1083" class="elementor-tab-title" data-tab="3" role="button" aria-controls="elementor-tab-content-1083" aria-expanded="false"> <span class="elementor-accordion-icon elementor-accordion-icon-left" aria-hidden="true"> <span class="elementor-accordion-icon-closed"><svg class="e-font-icon-svg e-fas-plus" viewBox="0 0 448 512" xmlns="http://www.w3.org/2000/svg"><path d="M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z"></path></svg></span> <span class="elementor-accordion-icon-opened"><svg class="e-font-icon-svg e-fas-minus" viewBox="0 0 448 512" xmlns="http://www.w3.org/2000/svg"><path d="M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z"></path></svg></span> </span> <a class="elementor-accordion-title" tabindex="0">Mileage</a> </h3> <div id="elementor-tab-content-1083" class="elementor-tab-content elementor-clearfix" data-tab="3" role="region" aria-labelledby="elementor-tab-title-1083"><p>High mileage often reflects a high level of use. So, the more you use your vehicle, the more likely it is to show signs of wear and require more advanced maintenance or repairs. We based our depreciation graph on a 12,000-mile annual driving average, so if you use your vehicle more than that, it may depreciate faster. On the other hand, if you drive fewer than 12,000 miles per year, your vehicle may depreciate more slowly.</p></div> </div> <div class="elementor-accordion-item"> <h3 id="elementor-tab-title-1084" class="elementor-tab-title" data-tab="4" role="button" aria-controls="elementor-tab-content-1084" aria-expanded="false"> <span class="elementor-accordion-icon elementor-accordion-icon-left" aria-hidden="true"> <span class="elementor-accordion-icon-closed"><svg class="e-font-icon-svg e-fas-plus" viewBox="0 0 448 512" xmlns="http://www.w3.org/2000/svg"><path d="M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z"></path></svg></span> <span class="elementor-accordion-icon-opened"><svg class="e-font-icon-svg e-fas-minus" viewBox="0 0 448 512" xmlns="http://www.w3.org/2000/svg"><path d="M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z"></path></svg></span> </span> <a class="elementor-accordion-title" tabindex="0">Overall Condition</a> </h3> <div id="elementor-tab-content-1084" class="elementor-tab-content elementor-clearfix" data-tab="4" role="region" aria-labelledby="elementor-tab-title-1084"><p>The overall condition of your truck directly relates to how well it runs and how good it looks — both inside and out. Proper maintenance and care for your vehicle mean less wear and tear than a vehicle that hasn’t been cared for properly. For this reason, it’ll be worth more. If you keep up with your Silverado’s maintenance schedule, avoid damage to the mechanics and body, and keep the components in good shape, you have a much better chance of getting a high resale value. Plus, the more you get when you sell your vehicle, the lower the depreciation rate you have.</p><p>It’s also important to remember that your Silverado may not be worth fixing after a certain point. If it costs almost as much or more to fix your vehicle than it would to get a new one, it may be time to call it quits rather than keep pouring money into a sinking ship.</p></div> </div> <div class="elementor-accordion-item"> <h3 id="elementor-tab-title-1085" class="elementor-tab-title" data-tab="5" role="button" aria-controls="elementor-tab-content-1085" aria-expanded="false"> <span class="elementor-accordion-icon elementor-accordion-icon-left" aria-hidden="true"> <span class="elementor-accordion-icon-closed"><svg class="e-font-icon-svg e-fas-plus" viewBox="0 0 448 512" xmlns="http://www.w3.org/2000/svg"><path d="M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z"></path></svg></span> <span class="elementor-accordion-icon-opened"><svg class="e-font-icon-svg e-fas-minus" viewBox="0 0 448 512" xmlns="http://www.w3.org/2000/svg"><path d="M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z"></path></svg></span> </span> <a class="elementor-accordion-title" tabindex="0">Color</a> </h3> <div id="elementor-tab-content-1085" class="elementor-tab-content elementor-clearfix" data-tab="5" role="region" aria-labelledby="elementor-tab-title-1085"><p>Statistics show that a vehicle’s color also affects the depreciation rate. Jeweled colors such as yellow, orange, purple, red, and green tend to depreciate more slowly, with yellow being the color to depreciate the slowest at <a href="https://www.iseecars.com/car-color-study" target="_blank" rel="noopener noreferrer">13.5% over three years</a>. Black, white, and gray vehicles tend to have an average depreciation rate because they’re the most popular colors.</p><p>On the other end of the spectrum, gold and brown depreciate much faster than average, making these colors the worst options if you want to retain your truck’s value for a long time. You can improve the resale value of your Silverado by purchasing one of the more slowly depreciating colors on the market.</p></div> </div> </div> </div> </div> <div class="elementor-element elementor-element-21b8121 elementor-widget elementor-widget-text-editor" data-id="21b8121" data-element_type="widget" data-widget_type="text-editor.default"> <div class="elementor-widget-container"> <h2>Other Costs of Chevrolet Silverado 1500 Ownership</h2><p>The depreciation rate of your Chevrolet Silverado 1500 is just one aspect of the total cost of ownership for your vehicle. There are other factors that can influence it, including:</p><h3>Insurance</h3><p>Car insurance rates can vary among makes and models and usually depend on the attributes of the vehicle as well as the driver. In general, trims that provide more safety features and vehicle classes designed for less demanding use tend to have lower insurance rates because they reflect less risk to the insurance company.</p><p>On average, yearly <a href="https://www.moneygeek.com/insurance/auto/chevy-silverado-insurance/" target="_blank" rel="noopener noreferrer">insurance rates for a Chevrolet Silverado 1500</a> can cost around $1,340, which is less than the <a href="https://www.nerdwallet.com/article/insurance/how-much-is-car-insurance" target="_blank" rel="noopener noreferrer">national average insurance cost</a> of $2,148 for all cars. However, your exact rate may vary based on your insurance provider. In some cases, the cheapest insurance can dip to $1,088 per year, while the most expensive can be as high as $1,561 for full coverage. If you’re going with a liability-only policy, you may find rates as low as $512.</p><h3>Maintenance</h3><p>Routine maintenance and care for your Chevrolet Silverado 1500 ensure it continues to run efficiently and stays in good shape. The average repair costs for a Silverado 1500 are $711 per year. This aligns with the average repair costs for all full-size pickups and SUVs, which range between $690 and $1,000 annually. This typically includes regularly scheduled maintenance, such as the <a href="https://www.fixdapp.com/car-repair-cost/chevrolet-silverado-1500-spark-plug-replacement-cost/" target="_blank" rel="noopener noreferrer">average cost of $140 to $472 just for spark plugs</a>, depending on the model year. Using our graph, you can compare the maintenance costs according to Silverado 1500 model years.</p><p>Remember that there are <a href="https://www.fixdapp.com/car-reviews/best-worst-years-of-chevrolet-silverado-graphs-owner-surveys/" target="_blank" rel="noopener noreferrer">best and worst years of the Silverado 1500</a>, and some years may be more costly to maintain than others. Specifically, the following model years are associated with reliability issues, including engine concerns, which can speed up the depreciation process:</p><ul><li>2001-2002</li><li>2003-2005</li><li>2006-2009</li><li>2012</li></ul><p> </p><p>There’s also a higher-than-average chance for a $500 or more engine repair bill with the 2003 to 2013 Chevrolet Silverado models. Major transmission problems aren’t as common but can happen more frequently with the 2002, 2005, and 2012 Silverado trucks.</p><h2>The Best Model Year To Buy a Chevrolet Silverado 1500</h2><p>Based on factors including price and reliability (but not depreciation), our choice for the best Chevrolet Silverado model years to buy are 2010-2011, 2013-2014, 2015-2018, and 2019-2021, but check out our article on the <a href="https://www.fixdapp.com/car-reviews/best-worst-years-of-chevrolet-silverado-graphs-owner-surveys/" target="_blank" rel="noopener noreferrer">best and worst years of the Silverado</a> to get the whole story.</p><h2>Buying a Chevrolet Silverado 1500 New vs. Used</h2> </div> </div> <div class="elementor-element elementor-element-c938db9 elementor-widget elementor-widget-eael-adv-accordion" data-id="c938db9" data-element_type="widget" data-widget_type="eael-adv-accordion.default"> <div class="elementor-widget-container"> <div class="eael-adv-accordion" id="eael-adv-accordion-c938db9" data-scroll-on-click="no" data-scroll-speed="300" data-accordion-id="c938db9" data-accordion-type="accordion" data-toogle-speed="300"> <div class="eael-accordion-list"> <div id="20-year-projection-table" class="elementor-tab-title eael-accordion-header" tabindex="0" data-tab="1" aria-controls="elementor-tab-content-2101"><span class="eael-advanced-accordion-icon-closed"><svg aria-hidden="true" class="fa-accordion-icon e-font-icon-svg e-fas-plus" viewBox="0 0 448 512" xmlns="http://www.w3.org/2000/svg"><path d="M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z"></path></svg></span><span class="eael-advanced-accordion-icon-opened"><svg aria-hidden="true" class="fa-accordion-icon e-font-icon-svg e-fas-minus" viewBox="0 0 448 512" xmlns="http://www.w3.org/2000/svg"><path d="M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z"></path></svg></span><span class="eael-accordion-tab-title">20-Year Projection Table</span><svg aria-hidden="true" class="fa-toggle e-font-icon-svg e-fas-angle-right" viewBox="0 0 256 512" xmlns="http://www.w3.org/2000/svg"><path d="M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z"></path></svg></div><div id="elementor-tab-content-2101" class="eael-accordion-content clearfix" data-tab="1" aria-labelledby="20-year-projection-table"><table dir="ltr" border="1" cellspacing="0" cellpadding="0"><tbody><tr><td style="text-align: center;" colspan="3" rowspan="1" data-sheets-value="{"1":2,"2":"20-Year Projection"}"><strong>20-Year Projection</strong></td></tr><tr><td data-sheets-value="{"1":2,"2":"Years Since Purchased"}"><p style="text-align: center;"><strong>Years </strong></p><p style="text-align: center;"><strong>Since Purchased</strong></p></td><td style="text-align: center;" data-sheets-value="{"1":2,"2":"Depreciated Value"}"><strong>Depreciated Value</strong></td><td style="text-align: center;" data-sheets-value="{"1":2,"2":"With Inflation"}"><strong>With Inflation</strong></td></tr><tr><td style="text-align: center;" data-sheets-value="{"1":3,"3":1}">1</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":31254.3}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R28C13*R[0]C17">$31,254</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":34502.89616515147}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R[0]C[-1]*R[0]C[2]">$34,503</td></tr><tr><td style="text-align: center;" data-sheets-value="{"1":3,"3":2}">2</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":25010.699999999997}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R28C13*R[0]C17">$25,011</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":29226.574510883293}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R[0]C[-1]*R[0]C[2]">$29,227</td></tr><tr><td style="text-align: center;" data-sheets-value="{"1":3,"3":3}">3</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":21017.699999999997}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R28C13*R[0]C17">$21,018</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":24688.67155393165}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R[0]C[-1]*R[0]C[2]">$24,689</td></tr><tr><td style="text-align: center;" data-sheets-value="{"1":3,"3":4}">4</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":19710.9}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R28C13*R[0]C17">$19,711</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":23240.2541845919}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R[0]C[-1]*R[0]C[2]">$23,240</td></tr><tr><td style="text-align: center;" data-sheets-value="{"1":3,"3":5}">5</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":17641.8}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R28C13*R[0]C17">$17,642</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":20700.8233719805}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R[0]C[-1]*R[0]C[2]">$20,701</td></tr><tr><td style="text-align: center;" data-sheets-value="{"1":3,"3":6}">6</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":16117.2}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R28C13*R[0]C17">$16,117</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":18864.98713808256}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R[0]C[-1]*R[0]C[2]">$18,865</td></tr><tr><td style="text-align: center;" data-sheets-value="{"1":3,"3":7}">7</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":13358.4}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R28C13*R[0]C17">$13,358</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":15659.489981309682}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R[0]C[-1]*R[0]C[2]">$15,659</td></tr><tr><td style="text-align: center;" data-sheets-value="{"1":3,"3":8}">8</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":11942.7}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R28C13*R[0]C17">$11,943</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":14082.250784425209}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R[0]C[-1]*R[0]C[2]">$14,082</td></tr><tr><td style="text-align: center;" data-sheets-value="{"1":3,"3":9}">9</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":10853.699999999999}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R28C13*R[0]C17">$10,854</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":12841.303200754543}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R[0]C[-1]*R[0]C[2]">$12,841</td></tr><tr><td style="text-align: center;" data-sheets-value="{"1":3,"3":10}">10</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":8094.900000000001}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R28C13*R[0]C17">$8,095</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":9680.299063026318}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R[0]C[-1]*R[0]C[2]">$9,680</td></tr><tr><td style="text-align: center;" data-sheets-value="{"1":3,"3":11}">11</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":7223.700000000001}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R28C13*R[0]C17">$7,224</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":8781.47009158341}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R[0]C[-1]*R[0]C[2]">$8,781</td></tr><tr><td style="text-align: center;" data-sheets-value="{"1":3,"3":12}">12</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":7187.400000000001}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R28C13*R[0]C17">$7,187</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":8982.859015763868}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R[0]C[-1]*R[0]C[2]">$8,983</td></tr><tr><td style="text-align: center;" data-sheets-value="{"1":3,"3":13}">13</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":4791.6}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R28C13*R[0]C17">$4,792</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":6093.755686978836}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R[0]C[-1]*R[0]C[2]">$6,094</td></tr><tr><td style="text-align: center;" data-sheets-value="{"1":3,"3":14}">14</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":4973.1}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R28C13*R[0]C17">$4,973</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":6391.964227198999}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R[0]C[-1]*R[0]C[2]">$6,392</td></tr><tr><td style="text-align: center;" data-sheets-value="{"1":3,"3":15}">15</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":4537.5}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R28C13*R[0]C17">$4,538</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":5743.8780730655235}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R[0]C[-1]*R[0]C[2]">$5,744</td></tr><tr><td style="text-align: center;" data-sheets-value="{"1":3,"3":16}">16</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":3557.4}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R28C13*R[0]C17">$3,557</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":4459.704021078135}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R[0]C[-1]*R[0]C[2]">$4,460</td></tr><tr><td style="text-align: center;" data-sheets-value="{"1":3,"3":17}">17</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":2758.7999999999997}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R28C13*R[0]C17">$2,759</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":3450.3954351320326}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R[0]C[-1]*R[0]C[2]">$3,450</td></tr><tr><td style="text-align: center;" data-sheets-value="{"1":3,"3":18}">18</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":2214.2999999999997}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R28C13*R[0]C17">$2,214</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":2786.571409132364}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R[0]C[-1]*R[0]C[2]">$2,787</td></tr><tr><td style="text-align: center;" data-sheets-value="{"1":3,"3":19}">19</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":2359.5}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R28C13*R[0]C17">$2,360</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":2952.244854914763}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R[0]C[-1]*R[0]C[2]">$2,952</td></tr><tr><td style="text-align: center;" data-sheets-value="{"1":3,"3":20}">20</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":2286.9}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R28C13*R[0]C17">$2,287</td><td style="text-align: center;" data-sheets-value="{"1":3,"3":2817.4635225000006}" data-sheets-numberformat="{"1":4,"2":"\"$\"#,##0","3":1}" data-sheets-formula="=R[0]C[-1]*R[0]C[2]">$2,817</td></tr></tbody></table></div> </div></div> </div> </div> <div class="elementor-element elementor-element-43e4858 elementor-widget elementor-widget-text-editor" data-id="43e4858" data-element_type="widget" data-widget_type="text-editor.default"> <div class="elementor-widget-container"> <p>A new 2023 Chevrolet Silverado 1500 has an initial MSRP of $36,300. Because of the higher inflation levels, it could depreciate more slowly over the next several years. Within three years, the same 2023 Silverado 1500 would have an approximate resale value of $19,906, for a total accumulated depreciation of $21,018. In comparison, a used 2021 Silverado 1500 has a resale value of $23,017 when factoring in its depreciation within the same three-year period.</p><p>When buying a used truck, it’s important to research the average depreciation rates for the make and model you’re thinking about. You’ll want to consider the other ownership costs, including insurance and maintenance, to <a href="https://www.fixdapp.com/car-buying/used-car-buying-checklist-how-to-find-problems/" target="_blank" rel="noopener noreferrer">help you buy a used vehicle</a> that will give you the most value.</p><h2>Methodology</h2><p>We base our findings on the residual value left over after depreciation and the cost to maintain or repair each model year of the Chevrolet Silverado 1500 per mile. The data presented in this article applies to the Chevrolet Silverado 1500 Work Truck (WT) base trim. The Silverado 1500 has eight trims in total, and higher-level trims with additional options may hold their value better in the long term. Additionally, the condition of the vehicle and whether you sell to a dealer or a private buyer has a large impact on resale value too.</p><p>Keep in mind, there are large economic factors at play here too and the sale of new cars has caused shifts in the used market too. There is a stark difference in the cost of vehicles due to car <a href="https://www.cbs58.com/news/auto-sales-are-falling-but-profits-are-surging-welcome-to-the-new-normal" target="_blank" rel="noopener noreferrer">manufacturers seeking higher profit margins after COVID as detailed by CNN</a> and posted by CBS channel 58:</p><p>“The auto industry saw sky-high profits even as sales plummeted. Domestic manufacturers of cars and car parts saw a profit of $32 billion through the third quarter of 2022 (the latest data available) — their largest profit since 2016. Car dealerships also reported record-breaking profits through Q3, according to auto-retail advisers Haig Partners.</p><p>That’s because pandemic-era pent-up consumer demand remained strong as supply shifted, allowing automakers to increase their prices and their profit margins. Cars and trucks were sold nearly as soon as they hit dealership lots, and the average price paid for a vehicle in December soared to a near-record high of $46,382, according to J.D. Power.</p><p>Data from the Labor Department’s November Consumer Price Index shows American consumers are paying about 20% more for cars than they were in 2019.</p><p>The trend could continue into next year — research website Edmunds expects new-car sales to hit 14.8 million in 2023, a marginal increase from last year but well below pre-pandemic levels.</p><p>The auto industry has entered a new era: Less choice, higher prices, and larger profit margins. So far it seems to be working for them.”</p><p>This shift by car companies to create higher profit margins by taking advantage of the heavily-reported-on chip shortage panic of COVID has had rebounding effects upon the value of used cars.</p> </div> </div> <a class="eael-wrapper-link-55d8b1e --eael-wrapper-link-tag" href="https://www.forbes.com/sites/jimgorzelany/2023/04/11/used-car-prices-set-to-rise-again-but-these-models-already-sell-for-more-than-new-ones/?sh=6f77412b6541" rel="nofollow" ></a> <div data-eael-wrapper-link="eael-wrapper-link-55d8b1e" class="elementor-element elementor-element-55d8b1e elementor-alert-info elementor-widget elementor-widget-alert" data-id="55d8b1e" data-element_type="widget" data-widget_type="alert.default"> <div class="elementor-widget-container"> <div class="elementor-alert" role="alert"> <span class="elementor-alert-title">According to Forbes:</span> <span class="elementor-alert-description">"Shoppers looking for the most popular models like the Maverick are still finding bare cupboards at new-vehicle dealerships. That, in turn, sends them over to the used vehicle market, where its own supply issues have driven prices of the highest-demand models to record highs."</span> <button type="button" class="elementor-alert-dismiss" aria-label="Dismiss this alert."> <svg aria-hidden="true" class="e-font-icon-svg e-fas-quote-left" viewBox="0 0 512 512" xmlns="http://www.w3.org/2000/svg"><path d="M464 256h-80v-64c0-35.3 28.7-64 64-64h8c13.3 0 24-10.7 24-24V56c0-13.3-10.7-24-24-24h-8c-88.4 0-160 71.6-160 160v240c0 26.5 21.5 48 48 48h128c26.5 0 48-21.5 48-48V304c0-26.5-21.5-48-48-48zm-288 0H96v-64c0-35.3 28.7-64 64-64h8c13.3 0 24-10.7 24-24V56c0-13.3-10.7-24-24-24h-8C71.6 32 0 103.6 0 192v240c0 26.5 21.5 48 48 48h128c26.5 0 48-21.5 48-48V304c0-26.5-21.5-48-48-48z"></path></svg> </button> </div> </div> </div> </div> </div> </div> </section> <div data-particle_enable="false" data-particle-mobile-disabled="false" class="elementor-element elementor-element-2c0e804 e-flex e-con-boxed e-con e-parent" data-id="2c0e804" data-element_type="container"> <div class="e-con-inner"> <div class="elementor-element elementor-element-c06ec50 elementor-widget elementor-widget-text-editor" data-id="c06ec50" data-element_type="widget" data-widget_type="text-editor.default"> <div class="elementor-widget-container"> <p>Be aware that newer years (the latest 3-4 model years) may be inflated in price because of this and depending on how big this problem is for the model you are considering – it may even be inflating the price of the older model years.</p> <h2>Frequently Asked Questions About Vehicle Depreciation </h2> </div> </div> <div class="elementor-element elementor-element-d1271b3 elementor-widget elementor-widget-accordion" data-id="d1271b3" data-element_type="widget" data-widget_type="accordion.default"> <div class="elementor-widget-container"> <div class="elementor-accordion"> <div class="elementor-accordion-item"> <h3 id="elementor-tab-title-2191" class="elementor-tab-title" data-tab="1" role="button" aria-controls="elementor-tab-content-2191" aria-expanded="false"> <span class="elementor-accordion-icon elementor-accordion-icon-left" aria-hidden="true"> <span class="elementor-accordion-icon-closed"><svg class="e-font-icon-svg e-fas-plus" viewBox="0 0 448 512" xmlns="http://www.w3.org/2000/svg"><path d="M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z"></path></svg></span> <span class="elementor-accordion-icon-opened"><svg class="e-font-icon-svg e-fas-minus" viewBox="0 0 448 512" xmlns="http://www.w3.org/2000/svg"><path d="M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z"></path></svg></span> </span> <a class="elementor-accordion-title" tabindex="0">Do Chevrolet Silverado 1500s hold their value?</a> </h3> <div id="elementor-tab-content-2191" class="elementor-tab-content elementor-clearfix" data-tab="1" role="region" aria-labelledby="elementor-tab-title-2191"><p>The Chevrolet Silverado 1500 comes in third of the top full-size pickups that hold value over time. This is just under the Toyota Tundra (number one) and the GMC Sierra 1500 (number two), <a href="https://www.iseecars.com/resale-value/full-size-trucks" target="_blank" rel="noopener noreferrer">according to iSeeCars</a>. This is likely due to many Chevrolet models’ reliability, durability, and safety.</p></div> </div> <div class="elementor-accordion-item"> <h3 id="elementor-tab-title-2192" class="elementor-tab-title" data-tab="2" role="button" aria-controls="elementor-tab-content-2192" aria-expanded="false"> <span class="elementor-accordion-icon elementor-accordion-icon-left" aria-hidden="true"> <span class="elementor-accordion-icon-closed"><svg class="e-font-icon-svg e-fas-plus" viewBox="0 0 448 512" xmlns="http://www.w3.org/2000/svg"><path d="M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z"></path></svg></span> <span class="elementor-accordion-icon-opened"><svg class="e-font-icon-svg e-fas-minus" viewBox="0 0 448 512" xmlns="http://www.w3.org/2000/svg"><path d="M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z"></path></svg></span> </span> <a class="elementor-accordion-title" tabindex="0">What are the best years of Chevrolet Silverado 1500 to buy and which ones should you avoid?</a> </h3> <div id="elementor-tab-content-2192" class="elementor-tab-content elementor-clearfix" data-tab="2" role="region" aria-labelledby="elementor-tab-title-2192"><p>The best years for the Chevrolet Silverado 1500 are 2010 to 2011, 2013, 2014, 2015 to 2018, and 2019 to 2021. The years you should avoid at all costs are:</p><ul><li>2001-2005</li><li>2006-2009</li><li>2012</li></ul><p>Most of the issues for these Silverado years are due to engine problems, but transmission complications and brake failure are also common troubles for these model years.</p></div> </div> <div class="elementor-accordion-item"> <h3 id="elementor-tab-title-2193" class="elementor-tab-title" data-tab="3" role="button" aria-controls="elementor-tab-content-2193" aria-expanded="false"> <span class="elementor-accordion-icon elementor-accordion-icon-left" aria-hidden="true"> <span class="elementor-accordion-icon-closed"><svg class="e-font-icon-svg e-fas-plus" viewBox="0 0 448 512" xmlns="http://www.w3.org/2000/svg"><path d="M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z"></path></svg></span> <span class="elementor-accordion-icon-opened"><svg class="e-font-icon-svg e-fas-minus" viewBox="0 0 448 512" xmlns="http://www.w3.org/2000/svg"><path d="M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z"></path></svg></span> </span> <a class="elementor-accordion-title" tabindex="0">What's considered high mileage for a Chevrolet Silverado 1500?</a> </h3> <div id="elementor-tab-content-2193" class="elementor-tab-content elementor-clearfix" data-tab="3" role="region" aria-labelledby="elementor-tab-title-2193"><p>Pickup trucks are versatile and can be used in a variety of ways. Therefore, it’s challenging to determine an average mileage for the Chevrolet Silverado 1500. With proper maintenance and gentle driving, your Silverado can last more than 200,000 miles, while others that have been heavily used and abused may only last 100,000 miles. High mileage is usually better determined by a professional technician that can evaluate the truck. However, our data suggests that high mileage can generally be around 130,000 miles or more.</p><p>Most of the oldest years we have data on (1996 to 2006) range between an average of 170,000 to 195,000 miles. This suggests that these vehicles are the few still left on the road because they have less mileage and, therefore, less wear and tear than average. But at this point, they’re probably only a few thousand miles away from being sold as scrap to the nearest junkyard.</p><p>Only two of the older years have an average mileage of over 200,000: the 1997 at 258,000 miles and the 1999 at 250,000 miles. High mileage for newer vehicles may differ, but assuming it improves with time, you may get even more out of a high-mileage vehicle than we see now. If you’d rather buy low mileage, for 2014 and forward the average mileage is less than 130,000.</p></div> </div> <div class="elementor-accordion-item"> <h3 id="elementor-tab-title-2194" class="elementor-tab-title" data-tab="4" role="button" aria-controls="elementor-tab-content-2194" aria-expanded="false"> <span class="elementor-accordion-icon elementor-accordion-icon-left" aria-hidden="true"> <span class="elementor-accordion-icon-closed"><svg class="e-font-icon-svg e-fas-plus" viewBox="0 0 448 512" xmlns="http://www.w3.org/2000/svg"><path d="M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z"></path></svg></span> <span class="elementor-accordion-icon-opened"><svg class="e-font-icon-svg e-fas-minus" viewBox="0 0 448 512" xmlns="http://www.w3.org/2000/svg"><path d="M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z"></path></svg></span> </span> <a class="elementor-accordion-title" tabindex="0">How old of a Chevrolet Silverado 1500 should you buy to avoid most of the depreciation?</a> </h3> <div id="elementor-tab-content-2194" class="elementor-tab-content elementor-clearfix" data-tab="4" role="region" aria-labelledby="elementor-tab-title-2194"><p>The sweet spot for a Chevrolet Silverado 1500 ranges from 2005 through 2015. These years may see the lowest depreciation values over time. Based on this sweet spot, it’s better to stick with a vehicle that’s no more than eight years old.</p></div> </div> <script type="application/ld+json">{"@context":"https:\/\/schema.org","@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Do Chevrolet Silverado 1500s hold their value?","acceptedAnswer":{"@type":"Answer","text":"<p>The Chevrolet Silverado 1500 comes in third of the top full-size pickups that hold value over time. This is just under the Toyota Tundra (number one) and the GMC Sierra 1500 (number two), <a href=\"https:\/\/www.iseecars.com\/resale-value\/full-size-trucks\" target=\"_blank\" rel=\"noopener noreferrer\">according to iSeeCars<\/a>. This is likely due to many Chevrolet models’ reliability, durability, and safety.<\/p>"}},{"@type":"Question","name":"What are the best years of Chevrolet Silverado 1500 to buy and which ones should you avoid?","acceptedAnswer":{"@type":"Answer","text":"<p>The best years for the Chevrolet Silverado 1500 are 2010 to 2011, 2013, 2014, 2015 to 2018, and 2019 to 2021. The years you should avoid at all costs are:<\/p><ul><li>2001-2005<\/li><li>2006-2009<\/li><li>2012<\/li><\/ul><p>Most of the issues for these Silverado years are due to engine problems, but transmission complications and brake failure are also common troubles for these model years.<\/p>"}},{"@type":"Question","name":"What's considered high mileage for a Chevrolet Silverado 1500?","acceptedAnswer":{"@type":"Answer","text":"<p>Pickup trucks are versatile and can be used in a variety of ways. Therefore, it’s challenging to determine an average mileage for the Chevrolet Silverado 1500. With proper maintenance and gentle driving, your Silverado can last more than 200,000 miles, while others that have been heavily used and abused may only last 100,000 miles. High mileage is usually better determined by a professional technician that can evaluate the truck. However, our data suggests that high mileage can generally be around 130,000 miles or more.<\/p><p>Most of the oldest years we have data on (1996 to 2006) range between an average of 170,000 to 195,000 miles. This suggests that these vehicles are the few still left on the road because they have less mileage and, therefore, less wear and tear than average. But at this point, they’re probably only a few thousand miles away from being sold as scrap to the nearest junkyard.<\/p><p>Only two of the older years have an average mileage of over 200,000: the 1997 at 258,000 miles and the 1999 at 250,000 miles. High mileage for newer vehicles may differ, but assuming it improves with time, you may get even more out of a high-mileage vehicle than we see now. If you’d rather buy low mileage, for 2014 and forward the average mileage is less than 130,000.<\/p>"}},{"@type":"Question","name":"How old of a Chevrolet Silverado 1500 should you buy to avoid most of the depreciation?","acceptedAnswer":{"@type":"Answer","text":"<p>The sweet spot for a Chevrolet Silverado 1500 ranges from 2005 through 2015. These years may see the lowest depreciation values over time. Based on this sweet spot, it’s better to stick with a vehicle that’s no more than eight years old.<\/p>"}}]}</script> </div> </div> </div> </div> </div> <div data-particle_enable="false" data-particle-mobile-disabled="false" class="elementor-element elementor-element-11fdc47 e-flex e-con-boxed e-con e-parent" data-id="11fdc47" data-element_type="container"> <div class="e-con-inner"> <div class="elementor-element elementor-element-9433b65 elementor-widget elementor-widget-text-editor" data-id="9433b65" data-element_type="widget" data-widget_type="text-editor.default"> <div class="elementor-widget-container"> <h2>References</h2><p>(2022.) <em>The Best and Worst Car Colors for Resale Value</em><em>.</em> iSeeCars. Retrieved August 18, 2023, from <a href="https://www.iseecars.com/car-color-study">https://www.iseecars.com/car-color-study</a></p><p>(2023.) <em>Compare the Cost of Chevrolet Silverado Insurance by Model Year and Company</em><em>.</em> Money Geek. Retrieved August 4, 2023, from <a href="https://www.moneygeek.com/insurance/auto/chevy-silverado-insurance/" target="_blank" rel="noopener noreferrer">https://www.moneygeek.com/insurance/auto/chevy-silverado-insurance/</a></p><p>(2023.) <em>Best Resale Value Full-Size Trucks for 2023</em>. iSeeCars. Retrieved August 4, 2023, from <a href="https://www.iseecars.com/resale-value/full-size-trucks" target="_blank" rel="noopener noreferrer">https://www.iseecars.com/resale-value/full-size-trucks</a></p><p>(2023.) <em>Average Car Insurance Cost for August 2023. </em>NerdWallet. Retrieved August 11, 2023, from <a href="https://www.nerdwallet.com/article/insurance/how-much-is-car-insurance">https://www.nerdwallet.com/article/insurance/how-much-is-car-insurance</a></p> </div> </div> </div> </div> </div> <div class="saboxplugin-wrap" ><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"><img decoding="async" src="data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20100%20100'%3E%3C/svg%3E" width="100" height="100" alt="FIXD Research Team" data-lazy-src="/wp-content/uploads/2021/05/FIXD-Team.png.webp"><noscript><img decoding="async" src="/wp-content/uploads/2021/05/FIXD-Team.png.webp" width="100" height="100" alt="FIXD Research Team" ></noscript></div><div class="saboxplugin-authorname"><a href="https://www.fixdapp.com/blog/author/fixd/" class="vcard author" rel="author"><span class="fn">FIXD Research Team</span></a></div><div class="saboxplugin-desc"><div ><p>At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.</p> </div></div><div class="clearfix"></div></div></div> </div> </div> <div class="elementor-element elementor-element-945aff5 elementor-widget elementor-widget-image" data-id="945aff5" data-element_type="widget" data-widget_type="image.default"> <div class="elementor-widget-container"> <a href="https://shop.fixdapp.com/lp/sensor67-blog"> <img width="600" height="388" src="data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20600%20388'%3E%3C/svg%3E" class="attachment-large size-large wp-image-34686" alt="" data-lazy-srcset="https://www.fixdapp.com/wp-content/uploads/2022/10/inline-generic.png 600w, https://www.fixdapp.com/wp-content/uploads/2022/10/inline-generic-300x194.png 300w, https://www.fixdapp.com/wp-content/uploads/2022/10/inline-generic-18x13.png 18w" data-lazy-sizes="(max-width: 600px) 100vw, 600px" data-lazy-src="https://www.fixdapp.com/wp-content/uploads/2022/10/inline-generic.png" /><noscript><img loading="eager" fetchpriority="high" width="600" height="388" src="https://www.fixdapp.com/wp-content/uploads/2022/10/inline-generic.png" class="attachment-large size-large wp-image-34686" alt="" srcset="https://www.fixdapp.com/wp-content/uploads/2022/10/inline-generic.png 600w, https://www.fixdapp.com/wp-content/uploads/2022/10/inline-generic-300x194.png 300w, https://www.fixdapp.com/wp-content/uploads/2022/10/inline-generic-18x13.png 18w" sizes="(max-width: 600px) 100vw, 600px" /></noscript> </a> </div> </div> <div class="elementor-element elementor-element-5ab88574 elementor-widget elementor-widget-text-editor" data-id="5ab88574" data-element_type="widget" data-widget_type="text-editor.default"> <div class="elementor-widget-container"> <p><span style="font-weight: 400;">We’re here to help you simplify car care and save, so this post may contain </span><a href="https://www.fixdapp.com/advertiser-disclosure/"><span style="font-weight: 400;">affiliate links</span></a><span style="font-weight: 400;"> to help you do just that. If you click on a link and take action, we may earn a commission. However, the analysis and opinions expressed are our own.</span></p> </div> </div> <div class="elementor-element elementor-element-373f32c8 elementor-widget elementor-widget-heading" data-id="373f32c8" data-element_type="widget" data-widget_type="heading.default"> <div class="elementor-widget-container"> <p class="elementor-heading-title elementor-size-default">Topics</p> </div> </div> <div class="elementor-element elementor-element-1a84384c elementor-widget elementor-widget-heading" data-id="1a84384c" data-element_type="widget" data-widget_type="heading.default"> <div class="elementor-widget-container"> <h2 class="elementor-heading-title elementor-size-default"><b style="color: #25AE4E">About</b> the Author</h2> </div> </div> <div class="elementor-element elementor-element-567cb22c elementor-author-box--layout-image-left elementor-author-box--align-left ignore-toc elementor-author-box--image-valign-top elementor-author-box--avatar-yes elementor-author-box--name-yes elementor-author-box--biography-yes elementor-widget elementor-widget-author-box" data-id="567cb22c" data-element_type="widget" data-widget_type="author-box.default"> <div class="elementor-widget-container"> <div class="elementor-author-box"> <a href="https://fixdapp.mystagingwebsite.com/author/fixd-research-team/" target="_blank" class="elementor-author-box__avatar"> <img src="data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%200%200'%3E%3C/svg%3E" alt="Picture of FIXD Research Team" data-lazy-src="https://secure.gravatar.com/avatar/621befe09d4c5cf9b0b93eeb3e8a3192?s=300&d=robohash&r=g"><noscript><img src="https://secure.gravatar.com/avatar/621befe09d4c5cf9b0b93eeb3e8a3192?s=300&d=robohash&r=g" alt="Picture of FIXD Research Team" loading="lazy"></noscript> </a> <div class="elementor-author-box__text"> <a href="https://fixdapp.mystagingwebsite.com/author/fixd-research-team/" target="_blank"> <h4 class="elementor-author-box__name"> FIXD Research Team </h4> </a> <div class="elementor-author-box__bio"> At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car. </div> </div> </div> </div> </div> <div class="elementor-element elementor-element-679660de elementor-hidden-desktop elementor-hidden-tablet elementor-widget elementor-widget-html" data-id="679660de" data-element_type="widget" data-widget_type="html.default"> <div class="elementor-widget-container"> <div class="klaviyo-form-U5dDDY"></div> </div> </div> <div class="elementor-element elementor-element-3a4b63a8 elementor-widget elementor-widget-heading" data-id="3a4b63a8" data-element_type="widget" data-widget_type="heading.default"> <div class="elementor-widget-container"> <h2 class="elementor-heading-title elementor-size-default">You might also like</h2> </div> </div> <section data-particle_enable="false" data-particle-mobile-disabled="false" class="elementor-section elementor-inner-section elementor-element 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data-widget_type="posts.classic"> <div class="elementor-widget-container"> <div class="elementor-posts-container elementor-posts elementor-posts--skin-classic elementor-grid"> <article class="elementor-post elementor-grid-item post-107260 post type-post status-publish format-standard has-post-thumbnail hentry category-obd2-codes tag-check-engine-light tag-p0133 tag-top-makes-and-models mv-content-wrapper"> <a class="elementor-post__thumbnail__link" href="https://www.fixdapp.com/blog/top-makes-and-models-with-dtc-p0133/" tabindex="-1" > <div class="elementor-post__thumbnail"><img width="300" height="200" src="data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20300%20200'%3E%3C/svg%3E" class="attachment-medium size-medium wp-image-107261" alt="" data-lazy-src="https://www.fixdapp.com/wp-content/uploads/2025/01/AdobeStock_1124846018-300x200.jpeg.webp" /><noscript><img loading="eager" fetchpriority="high" width="300" height="200" src="https://www.fixdapp.com/wp-content/uploads/2025/01/AdobeStock_1124846018-300x200.jpeg.webp" class="attachment-medium size-medium wp-image-107261" alt="" /></noscript></div> </a> <div class="elementor-post__text"> <h3 class="elementor-post__title"> <a href="https://www.fixdapp.com/blog/top-makes-and-models-with-dtc-p0133/" > Top Makes and Models with DTC P0133 </a> </h3> <div class="elementor-post__meta-data"> <span class="elementor-post-author"> David Goldberg </span> </div> <a class="elementor-post__read-more" href="https://www.fixdapp.com/blog/top-makes-and-models-with-dtc-p0133/" aria-label="Read more about Top Makes and Models with DTC P0133" tabindex="-1" > » Read More </a> </div> </article> </div> </div> </div> </div> </div> <div class="elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-1f77681d" data-id="1f77681d" data-element_type="column"> <div class="elementor-widget-wrap elementor-element-populated"> <div 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