The Advantages of Purchasing a Used Chevy Silverado 1500

There’s no denying that having a reliable method of transportation is a major necessity for many consumers. For those who have occupational obligations that require a reliable workhorse, those who have some trailering and towing to undertake, or simply need something to facilitate their passions in the world of off-roading, a pickup truck has long been considered the best option. However, there’s another aspect of this equation, and that’s the cost that’s involved with purchasing one.

Many of us have been led to believe that anything of exceptional quality has a price tag to match it. After all, it’s only natural to assume we always get what we pay for. However, this is not always the case. The most reliable truck on the road is the Chevy Silverado 1500. Taking advantage of the many attributes that the Silverado possesses without paying full price is as simple as purchasing one from a great used Chevy dealership like ours here at Dan Cummins Chevrolet Buick of Georgetown. As we’re going to explain, the cost-effective advantages that allow you to recoup a sizable return on your investment more than speak for themselves.

1999: A Legend Is Born

At the dawn of the 20th century, Chevy established itself as a major force during the formative years of the American automotive industry. It was during this time that the pickup truck began its tenure as not just a symbol of Americana but an instrument that could make a sizable impact on both the working world and the needs of the average consumer. Because of the major role it played at the beginning of the century, it only made sense that when it came to its inevitable conclusion, the bow-tie brand would make another contribution as the new millennium began. It was in 1999 when the Chevy Silverado 1500 made its iconic debut. Since that time, the vehicle has not only gone on to become Chevy’s flagship project but also the standard bearer for what every pickup truck should ascribe to be in the fields of versatility, prowess, performance, and accessibility.

Taking Advantage of Depreciation

If you’re in the market for a used Silverado 1500, there are a number of things you should know about. The first of these is learning about depreciation and making this process work to your advantage. Depreciation is the process in which the value of a vehicle decreases a little bit each year. While this process occurs to every make and model and begins the moment one is driven off the lot, the rates vary depending on the vehicle you select. Keeping track of this process is relatively easy, as the yearly rates are published each year from a multitude of publications, most notably Kelley Blue Book.

As far as the Chevy Silverado 1500 goes, we’ll take the time to break down some of the depreciation that occurs over time. After the first year of ownership, a Silverado 1500 maintains 91% of its original value, meaning you can find a relatively newer model for slightly less than the original starting MSRP. If you’re looking to save even more, consider purchasing a model that’s four years old, as this retains only 80%. Less than 75% of the resale value is attained after a six-year period, meaning you have the ideal chance to obtain quality for less.

Repair Costs

It goes without saying that any vehicle you purchase requires general maintenance and upkeep performed at regular intervals to keep it running effectively. Similar to depreciation, this is something that cannot be avoided, and everything depends on the vehicle you own. If you’re thinking of a used Chevy Silverado 1500, you’ll be quite pleased to know that the vehicle has an impressive reputation when it comes to maintenance costs. The annual costs to keep a Silverado on the road stay well below the threshold of $1,000 for the first six years of ownership.

In this same allotted amount of time, the chances that a major repair will be required is just over the probability of 16%. The most common service that will be required is having the oil changed and tires rotated, which should be done every 7,500 miles. Suppose you’re looking to make a long-term investment. In that case, you might want to consider finding a used Silverado 1500 that’s equipped with a Duramax diesel engine, as many drivers have attested to putting upwards of 300,000 miles on the engine without needing a major repair.

A Look at Kentucky Insurance Rates

If you plan on purchasing a used Silverado 1500 from us at Dan Cummins Chevrolet Buick of Georgetown, you’ll find a considerable amount of great offerings to choose from. Aside from taking advantage of depreciation and repair bills that are easily affordable, you’ll find that insurance premiums are also much lower when it comes to used vehicles. While insurance premiums vary upon what carrier you choose, your driving record, and your age, the average yearly cost for insuring a Chevy Silverado 1500 in the state of Kentucky is $ 2,448 a year, and this balances out to approximately $204 a month. This data is for a new Silverado, and because used vehicles cost less, you should be able to shop around for an affordable rate that’s agreeable to your budget.

Get More for Your Money With a Model Before 2020

Many of us remember how tumultuous the year 2020 was. And while many think of the global pandemic as the event most commonly associated with the year in question, there was another event that had a significant impact on the world we live in. This took the form of a worldwide microchip shortage. What this meant for the average consumer is that many production quotas were limited, and some features for many vehicles could only be produced in limited quantities.

Now, if you’re looking for a vehicle with the special features you covet the most, there are two options. The first choice is to have a Silverado custom-built at the factory, which will ensure that you get first dibs on some of the items you want. But, because we’re talking about used versions of the Silverado 1500, we present this other option. Looking for a vehicle manufactured before the 2020 model year means paying less and getting more. If you’re unsure of which years come with certain features, our friendly and knowledgeable sales team will be happy to assist you in choosing the perfect option.

Invest in a Pre-Owned Silverado 1500 Today

As we’ve found out today, obtaining a vehicle of exceptional quality isn’t limited to those with a disposable income. As one of the most trusted brands to ever exist, Chevy’s reputation for quality has lasted several decades, and as we’ve seen today, it’s lasted into the modern era as well. A used Silverado 1500 can afford you all of the advantages that you need for work, play, and every other activity that falls in between. And the advantages are exactly what you’ll find when you come to shop with the experts at Dan Cummins Chevrolet Buick Of Georgetown. With an impeccable selection and a staff who make it their business to know what makes Chevy function, there’s no other dealership quite like us.

Posted in Used Chevy Dealership | No Comments »