HOW MUCH IS A CHEVY SILVERADO?
If you’re looking for a full-sized pickup truck, the Silverado is probably one of the first options that comes to mind. It’s been one of the most popular vehicles in its class for some time now. Since the 2019 edition, it’s received an upgraded look and improved specifications. That being said, the question, “how much is a Chevy Silverado?” is probably still your prime concern when looking to buy.
In this article, we’ll take you through the options, as well as the hidden and ongoing costs of buying a vehicle. Once you’re done, you’ll be in a much better position to make your decision about purchasing a Chevy Silverado.
So, how much is a Chevy Silverado?
Unfortunately, this straightforward question doesn’t have a straightforward answer. It all depends on whether you’re shopping new vs. used, what trim you’re looking for, and what extras you want.
For buying new, we’ll look at the 2019 and 2020 Silverado. For both years, there is an incredible range of trims. All in all, there are 7 ranges: WT, Custom, LT, RST, LTZ, Trial Boss, and High Country.
Each of these ranges has 3 trims, except for the WT with 4 and the High Country and Trail Boss with 2 trims each. Taking into account that most trims feature both 4WD and 2WD options, there are over 41 options to choose from, all with their own MSRP!
For the 2019 edition, prices start at $29,895 (WT with 2WD, regular cab, long bed) and end at $58,895 (High Country with 4WD, Crew Cab, Standard Bed). For the 2020 edition, prices range from $29,895 (WT with 2WD, regular cab, long bed) all the way up to $58,396 (High Country with 4WD, crew cab, standard bed). While the Trial Boss is exclusively 4WD, there are both 2WD and 4WD options for all the other trims.
As you can see, the difference in price is minimal to non-existent between the two years, which means you might as well aim for the 2020 edition. The price for the most expensive Silverado is also almost double that of the most affordable. Depending on your needs, there is a trim for every budget.
The equivalent 4WD version costs about $4,000 more than the 2WD version.
What are other extra costs should I be aware of?
The MSRP (Manufacturer’s Suggested Retail Price) is just that—a suggestion. Dealerships may charge their own prices that are either higher or lower and may include other fees.
However, there are a few compulsory fees that you will have to pay on top of the retail price:
Sales tax: Although this varies from state to state, the average vehicle sales tax in the U.S. is 5.75%. For the Silverado, that could range from $1,600 to almost $4,000.
Registration and title fees: Again, these depend on your state but registration fees range from $8 to $225 and title fees from $3 to $100.
Handling and delivery: Unless you pick the car up from the dealer, you may also pay up to $1,595 in freight charges.
Dealer fees: This amount varies dramatically from dealer to dealer but should be a few hundred dollars.
In case you might want to add some extra accessories to your overall package, you should put another grand or two away as well. In total, you could end up paying as much as $6,000 more than the MSRP for the Silverado. Many people don’t know this – only to get a nasty surprise later on.
What are the ongoing costs of owning a Silverado?
Unfortunately, the cost of owning a vehicle doesn’t stop once you purchase it and drive it off the lot. So, when asking, “How much is a Chevy Silverado?” there are other costs to consider beyond the initial sale price. With any car, you’ll need to factor in the maintenance, tax, lease or financing, and fuel cost. You should also consider depreciation as this will affect your resale value.
According to YourMechanic, the Chevy Silverado should have relatively low maintenance costs during the first 10 years, averaging $380. That’s due to Chevy being a low-cost-to-own brand with relatively affordable labor and parts. It’s also due to the fact that the Silverado is a reliable vehicle.
Edmunds estimates a slightly higher figure, but it’s still within reason. After the first year, your taxes and fees should go down, and Edmunds estimates the cost-to-own to be about $7,000. However, that’s including fuel, yearly taxes, depreciation, etc.
As a full-sized truck meant to work hard, you might have guessed that the Silverado isn’t the lightest on gas. With fuel economy ranging from about 15 MPG to 22 MPG, that certainly is the case. With the average American driving around 13,476 miles a year, your fuel costs may run as high as $1,950 (at $2.903 per gallon as of January 6, 2020).
How to choose the best Chevy Silverado for you
To narrow it down, you should first consider what features you need. The WT range is the only one with a regular cab/long bed option. If you need a workhorse, this is probably what you should aim for. You can then narrow it down further using the other cab/bed combinations, 4WD or 2WD, and engine types.
Plan for your particular needs
If you want the ultimate in luxury, then the High Country is the trim to consider. On the other hand, if you want the best off-road performance, you’ll want to go with the Trail Boss. You can also upgrade to a 6.2L EcoTec3 V8 engine if you want to unlock the Silverado’s full power and trailering capabilities. We hope that this answered your question ‘How much is a Chevy Silverado?’ But, more than that, that it helped you prepare for actually buying a Silverado and planning your future.