The 2020 Chevrolet Silverado 1500 is the cheapest pickup truck to own, according to Kelley Blue Book, with a projected five-year cost of ownership of $47,697.
The publication says the Silverado 1500’s low cost of ownership can be chalked up to its relatively low MSRP, particularly for the most popular crew cab models.
“Most truck buyers prefer the crew cab layout (with four full doors), which starts at just over $36,000 for the Silverado,” KBB said. “If you want a truck for your small business, the short-bed regular-cab Work Truck runs less than $30K. No matter what your truck budget is, choosing a Silverado means you get the added value of low 5-Year Cost to Own numbers.”
Coming in second behind the Chevrolet Silverado in KBB’s 5-Year Cost to Own rankings for full-size trucks was the 2020 Toyota Tundra, which has a projected five-year cost of $49,625. This truck may also prove to be a money-saver in the long-run, as KBB notes it is renowned for its reliability.
Surprisingly, the 2020 Ram 1500 managed to work its way into the third position with a projected five-year cost to own of $50,285. KBB says the truck is “highly capable, remarkably luxurious and filled with innovative technology,” but despite this, it still manages to be cheaper to own over a five-year period than the Ford F-150 or Nissan Titan XD.
In addition to the Chevrolet Silverado, other GM vehicles performed well in the KBB 5-Year Cost to Own awards this year, with the Chevrolet Tahoe and Chevrolet Impala also winning their respective segments. The mainstream brand with the lowest overall projected costs of ownership was Subaru, while Acura took the top honors for luxury brands.
KBB says the equation used to calculate its 5-Year Cost to Own estimates is “complex and includes things like insurance, fuel economy and interest rates,” although the biggest driver, it says is depreciation. This is a crucial and sometimes overlooked aspect when making a vehicle purchasing decision, as some vehicles can lose 60 percent of their value or more over a five-year period, making them much less affordable than their MSRP may suggest.
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Source: KBB
Comments
I heard consumer reports is not recommending due to high reports of service visits wonder if that is figured in
Article mentions reg cab short-bed but, you can’t get them in U.S..
Not to mention that Silverados are way less maintenance than any other truck out there.
May I suggest replacing “cheapest” with “least expensive”?
they hit the nail on the head, The truck is CHEAP. Cheap interiors, cheap black unpainted plastic all over the exterior, No Wow factor. Hyundai’s have nicer exteriors and interiors. a big horn Ram, looks far better than a Denali. GM vehicles look like crap, yet when they designed the new corvette with design, it sold out in 2 months before they were even built.
Love my 2019 Silverado z71 rst I’ve had zero problems very comfortable and good gas mileage
look close at it the cheapest to build also cheap interior cheap mexican labor cheap outdated transmissions
Also built in Indiana. But I bet facts don’t matter to you.
yes also built in indiana but more built in mexico last body except for some canadian built crew cabs most crews were of mexican descent fact another fact crews are probably 70%+ of production i will keep my 18 for now maybe a gmc in 22 when rebates are high if quality improves ie consumer reports recommended like they were in the past
Lol, your other choices is an turbo beer-can F-150, a 2002 Ram with 2020 sheetmetal or the archaic Japanese entries.
Yes. And they are TRUCKS. If they are serving their purpose and are economical to operate, one doesn’t care whether the engines have the latest whirly-bits, 27-speed transmissions, or useless geegaws that contribute nothing to service life, maintenance costs or intervals, or the ability to do the job.