New to You: The Inarguable Value of a Used Chevy Truck

Even if your a brand loyalist, faithful to the offerings of one automaker, in particular, there’s always an inherent challenge in buying a new truck. It comes in looking at your needs honestly (i) recognizing “how much truck” you need based on how you’ll actually use it, and (ii) examining your budget closely.

The latter is an obvious concern since trucks can easily climb into the $50,000 – $80,000 range depending on the model, trim level and configuration you choose. And while that may not be a concern for many prospective truck buyers out there, it’s likely a consideration for the ruling majority. Granted, everyone loves a vehicle that doubles as a show-piece, and what better example is there than a truck that can get the job done and turn heads while doing it? That said, aiming too high doesn’t do you any favors if it cripples you with payments.

But this speaks to the former, as well. Just as it’s easy to drive up the price tag with a higher trim level, or by opting for a Special Edition which sits outside of your price range, you can do the same by over-estimating the size, power or capabilities that you actually need.

While inarguably worth considering, let’s set these points aside for a moment. The simple truth is that there is one simple way that you can narrow whatever gap exists between ‘what you want’ and ‘what you can afford.’ It’s not magic, rocket science or trickery. Simply put, rather than setting your sights on a new model year offering, you explore your options regarding used trucks for sale.

The Value of Used

While the stigma of ‘buying used’ has diminished significantly in recent years, it’s not uncommon for people to be dissuaded by their concerns. That said, it’s important to look at the arguments in favor of buying a pre-owned vehicle.

First, consider that (contrary to popular thought) well-maintained vehicles are lasting longer than ever. It’s widely estimated that the average vehicle is driven around 12,000 miles per year. While it’s certainly a conservative estimate, it puts vehicle life into perspective with so many cars, trucks, and SUVs passing the 250,000-mile mark. For someone considering a pre-owned vehicle, it means that today’s buyer has greater assurance of longevity. Granted, not all pre-owned vehicles (or dealerships) are made equal. Regarding the vehicle, buyers should be prepared to perform their own due diligence before buying, to ensure that the vehicle is suitable and meets their expectations. And always remember choice of dealership matters.

Another understated value of a pre-owned vehicle is that they reduce both up-front costs and incremental costs throughout the course of ownership. This includes tax and title, registration and insurance costs.

Which segues perfectly into one of the greatest arguments in favor of buying pre-owned: the lower price-tag, as a result of depreciation. For the sake of conversation, let’s say that you’re looking at pre-owned trucks within the last five model years. Understanding that Chevy excels at including available technologies across their lineups and trim levels, you know that even a five-year-old truck will be well-equipped. That said, for the original owner, that truck began depreciating the moment the original owner had driven it off the lot. In fact, it was worth approximately 11% less by the moment the rear-wheels touch the street. This means that if they had turned around and attempted to re-sell it back to the dealer, a new truck that they’d bought for $30,000 might be valued at less than $27,000.

Almost immediately, one can appreciate the benefits to be enjoyed by the next owner. If purchased after a year of ownership, the vehicle is now worth approximately 25% less than its original sales price. After two years, it has decreased in value by as much as 46%. Fast-forward to the five-year mark, and it’s only worth 63% of the price, meaning that the original owner of a vehicle receives little in the way of return on their initial investment.

The second owner, however, gains the vehicle at a much lower price meaning that they can purchase a model or trim level that may have been outside of their trim level if bought new. They can also expect a slower rate of depreciation, meaning that a well-maintained used vehicle can fetch its second owner a confident return on their investment.

With all of these points in mind, it’s easy to see the value in purchasing used. But let’s take a more specific look at Chevy truck offerings, to get an idea of what’s on the table.

Chevy Dependability

Having celebrated their centennial anniversary, it’s hard not to look to Chevy’s truck lineup as deserving of their longevity. And for three years in a row, Chevy has earned J.D. Power & Associates’ Dependability Awards across its lineup of cars, trucks, and SUVs. This speaks to Chevy’s enduring commitment to creating safe and reliable offerings designed to get the job (or any job) done dependably.

Among midsize offerings, the Chevy Colorado stands as widely-celebrated, albeit somewhat deceptive in terms of its capability. Not to be defined by its midsize classification, the Colorado offers Best-in-Class horsepower, serving up 308 horsepower (courtesy of its 3.6-liter configuration) and a Best-in-Class 7700 LB tow rating (with its 2.8-liter turbodiesel). It’s also hard to argue the appeal of driving America’s Most Fuel-Efficient pickup! While 2018 offerings prove plenty enticing, the Colorado stands as the most awarded and fastest growing model over the past four years. Its increasing sales speaks volumes as to the appeal held by earlier models over the last few years.

And of course, few introductions are needed with the lineup of Chevy Silverado, voted ‘Most Dependable Large Pick-up.’ The Silverado 1500 also offerings Best-in-Class horsepower and fuel economy, as well as t12,500 LB towing capacity. The Silverado HD are just as highly-rated serving up to 445 hp, 910 lb-ft of torque and 23,300 LB towing. Whether you’re interested in the 1500 or Heavy-Duty 2500 and 3500, there are plenty of powerful configurations from which to choose. That selection is only increased when you begin to explore earlier model pre-owned models.

Do the Research. Decide for Yourself.

Chevy’s lineup doesn’t need us to validate it. Research their offerings for yourself, and we’re sure that you’ll find the perfect model for the unique demands of your budget and lifestyle. Just remember that, by buying a pre-owned truck, you might just empower yourself for a better return on your investment…in almost every way imaginable