With the launch of the all-new 2027 GMC Sierra 1500, truck buyers looking to avoid the inevitable price increase may decide to make a pre-owned purchase. Targeting five-year-old Sierras is a great way to balance freshness and agelessness. In other words, you can save money by buying a truck that doesn’t look too old and still has modern features. Even better, this pickup was extremely popular in 2021. Across the entire Sierra model lineup, GMC sold approximately 250,000 units, giving used truck buyers more choices and helping keep used prices low. A quick search of CarGurus shows over 2,800 active listings for the Used 2021 GMC Sierra 1500.
Reputable organizations like Kelley Blue Book and CarAge estimate five-year depreciation for this truck in the 38% to 43% range, depending on how the company calculates the numbers. This is enough to make these pickups significantly cheaper than buying new. We’ll cover iSeeCars and CarEdge’s valuation estimates in more detail, and then compare the numbers to the real-world price of listings for sale. And because the Sierra 1500 isn’t General Motors’ only pickup, we’ll see how GMC’s depreciation compares to the Chevrolet Silverado 1500. Finally, we’ll throw the Ford F-150 and Toyota Tundra into the mix for a comprehensive look at truck depreciation and valuation for the 2021 model year. All MSRPs mentioned in this article include destination charge.
The 2021 GMC Sierra 1500 lost a good chunk of its value
In 2026, the base GMC Sierra 1500 with crew cab, four-wheel drive (4WD), and standard bed has a base price of $50,500. Keep that number in mind when evaluating the 2021 Sierra 1500. Of course, prices only get higher with GMC’s other trims, especially if you’re trying to sort out the Denali from the AT4.
iSeeCars The Sierra 1500 is estimated to lose 38.2% of its original value over five years, which is slightly worse than the average of 36.6% for all full-size trucks. CarEdge Sierra’s depreciation is predicted to be worse by 43.5% over the same period. In the long run the calculations get closer. After seven years, depreciation ranges from 48.6% (iSeeCars) to 53.3% (CarEdge), and over a decade, the Sierra 1500 is projected to lose 60.8% (CarEdge) to 62% (iSeeCars) of its original value.
Marketplace listing prices for a base 2021 Sierra with a crew cab and 4WD with average mileage or better and no adverse history mostly range between $30,000 and $32,000. Half a decade ago, the starting MSRP of these trucks before any upgrades was $43,090. Using this base price, kelly blue book (KBB) indicates an average valuation of $25,700 today, which translates to a five-year depreciation rate of 40.4%, splitting the difference between the iSeeCars and CarEdge estimates. Still, all of these estimates fall short of the high real-world prices for good condition models today, which reflect depreciation of around 30%. However, what dealers are asking for the 2021 Sierra 1500 is still well below the price of the 2026 model.
How does the GMC Sierra 1500’s depreciation compare to rivals
Today the Sierra’s main competition is its corporate cousin, the Chevy Silverado. Although the trucks are nearly identical, the Silverado’s five-year depreciation is somewhat worse at 39.3%. iSeeCars. On the other hand, CarEdge says the Chevy has held its value slightly better over the same period, with a 43.1% loss from the original MSRP compared to the Sierra’s 43.5%. For perspective, a 0.4% difference on a $30,000 truck is only $120.
But how does the GMC Sierra’s depreciation stack up against its crosstown rival, the Ford F-150? Well, the answer depends on which company’s numbers you believe. iSeeCars It’s estimated that after five years, the Blue Oval’s best-seller loses 37.9% of its value, making the F-150 less depreciable than GM’s top trucks. Meanwhile, CarEdge takes a more conservative approach, estimating the F-150’s depreciation at 49.5%, which is 6% worse than the Sierra. The mid-level F-150 XLT SuperCrew with the standard bed had an MSRP of $48,335 for the 2021 model year. Using the same qualifiers (average mileage and good condition), this truck’s market listing as a used vehicle shows a starting price around $30,000, which suggests that iSeeCars’ estimate is closer to what buyers expect. There’s also five years of depreciation for the 2020 F-150 to consider.
Depreciation cuts both ways. Low depreciation increases the trade-in value, but it also makes the same vehicle more expensive to purchase in the used market. Nowhere is this more evident than in the Toyota Tundra. The depreciation rate in the 2021 version is 21.4% (iSeeCars) to 26.1% (CarEdge) – much lower than comparable pickups from General Motors and Ford.
