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Cost to Own

2024 Chevrolet Silverado EV Cost to Own

A 2024 Chevrolet Silverado EV will depreciate $56,044 after 5 years and have a 5-year residual value of $40,451. With out of pocket expenses at $49,616, the total Cost to Own of the 2024 Chevrolet Silverado EV is $105,660.

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Miles Driven / Year

Higher Costs than Most

The 2024 Chevrolet Silverado EV is in the bottom 76-100% for Cost to Own among all Full-size Pickup Trucks.

5-Year Cost to Own: $105,660

What Does Cost to Own Include?

Out of Pocket Expenses $49,616

5-year operating expenses like gas, insurance, interest, maintenance, repairs, and state fees.

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Depreciation (Loss in Value) $56,044

The car's estimated loss in value from the purchase date over 5 years.

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Out of Pocket + Depreciation = Cost to Own

When considering the cost of a car, it's important to look beyond the sticker price. Expenses like fuel, maintenance and insurance can add up quickly.

Sometimes a car with a higher initial price tag can actually save you money over the first five years of ownership. Understanding these differences can help you make a smarter financial decision and keep more money in your pocket.

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Cost to Own Comparison

5-Year Cost to Own includes out-of-pocket expenses like fuel, insurance, service & financing, plus the car's loss in value over time (depreciation).

2024 Chevrolet Silverado EV

Cost to Own: $105,660

MSRP: $96,495

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	New 2024 1 of 3 Chevrolet Silverado EV	Add a car to compare cost to own data	Add a car to compare cost to own data
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Total Out of Pocket Expenses	$49,616	-	-
Fuel	$3,990	-	-
Maintenance	$4,696	-	-
Insurance	$18,480	-	-
Repairs	$2,088	-	-
Financing	$11,557	-	-
State Fees	$8,805	-	-

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2024 Chevrolet Silverado EV

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5-year Cost to Own Breakdown

2024 Chevrolet Silverado EV

	Year 1	Year 2	Year 3	Year 4	Year 5	Total
Fuel	$763	$781	$798	$815	$833	$3,990
Insurance	$3,696	$3,696	$3,696	$3,696	$3,696	$18,480
Financing	$4,010	$3,203	$2,355	$1,463	$526	$11,557
State Fees	$6,745	$590	$535	$490	$445	$8,805
Maintenance	$541	$1,068	$739	$1,724	$624	$4,696
Repairs	-	-	$482	$803	$803	$2,088
Depreciation	$32,427	$6,682	$7,068	$5,332	$4,535	$56,044
Cost To Own	$48,182	$16,020	$15,673	$14,323	$11,462	$105,660

2024 Chevrolet Silverado EV Cost to Own

5-Year Cost to Own includes out of pocket expenses like fuel, insurance, service & financing, plus the car’s loss in value over time (depreciation).

5-Year Depreciation:$56,044

5-Year Out of Pocket Expenses:$49,616

5-Year Cost to Own:$105,660

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FAQs

As of May 2025 insuring a Chevrolet Silverado EV 2024 will cost approximately $18,480 dollars to insure per year, or $1,540 dollars per month. This amount can vary depending on factors like the age of the driver, driving record, credit rating, location of insured vehicle, vehicle trim and the company providing the insurance. For more information on insuring your vehicle, check out Kelley Blue Book.

As of May 2025 average annual maintenance costs for a Chevrolet Silverado EV 2024 run about $939 dollars, totaling approximately $4,696 dollars over five years.

As of May 2025 average annual depreciation for a Chevrolet Silverado EV 2024 runs about $11,208 dollars, totaling approximately $56,044 dollars over five years. It's worth noting that new vehicles depreciate most rapidly in the first couple years after purchase and that rate slows over time.

A Chevrolet Silverado EV 2024 can be expected to depreciate around $56,044 dollars over the course of 5 years, averaging $11,208 dollars per year, with the most dramatic depreciation occurring in the first 2-3 years and tapering off thereafter. Factors impacting the depreciation value of the 2024 Chevrolet include vehicle age, mileage, make and model, accident history, market demand, service history, and external market factors like gas prices. For a more detailed breakdown of vehicle value, check with the experts at Kelley Blue Book.

Average annual maintenance costs for a Chevrolet Silverado EV 2024 run about $939 dollars or $4,696 dollars over the span of 5 years. For a more detailed cost breakdown, check out Kelley Blue Book's car maintenance pages for the 2024 Chevrolet.

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