Automotive data and cost analysis company Vincentric picked the Chevy Silverado HD as the 2024 Lowest CPO Cost To Own In America Award winner in the Full Size 3/4-Ton and Full-Size 1-Ton Pickup categories, based on several factors.
The Chevy Silverado HD outperforms three competing models according to the award, while the 2500 HD has $1,623 lower ownership costs and the 3500 HD $2,338 lower costs relative to the “nearest competitor.”
Vehicles are assessed for the Awards based on eight factors, including “depreciation, insurance, repairs, maintenance (scheduled and unscheduled), finance, fuel, taxes and state fees, and opportunity costs” in order to determine their cost of ownership.
Models are then ranked from Poor to Excellent in two different categories. The Chevy Silverado HD won in “Cost To Own,” which is the objective cost discovered by crunching the numbers provided by the eight factors listed above. Vincentric hands out a second set of awards based on “Best Certified Pre-Owned Value in America,” which compares the verifiable cost of ownership to a theoretical estimate of what the vehicle is worth in order to find “bargains.”
Vincentric notes that its awards are designed to help vehicle buyers decide which models may be best for them among a vast field of certified pre-owned (CPO) choices. Its president David Wurster remarks that these certified vehicles “can be a smart way for car shoppers to save on costs,” provided the right model is located.
Wurster also commented on the winning models, stating that with “most of this year’s winners being repeat winners in their segments, consumers can have confidence that buying an award-winning CPO vehicle will likely deliver consistent value over time.”
Notably, the Chevy Silverado 2500 HD has also received a residual value award for its 2023 model year as the truck in the Large Heavy Duty Pickup segment most likely to hold a high percentage of its original value over time.
As a reminder, the Chevy Silverado 2500 HD is motivated by one of two available powerplants. These include the 6.6L V8 L8T gasoline engine rated at 401 horsepower and 464 pound-feet of torque and the 6.6L V8 L5P turbodiesel Duramax engine developing 445 horsepower and 910 pound-feet of torque.