This might sound like total nonsense, but it's absolutely true. This is my second GMC truck I've had as a company car, the first being a 2015 Sierra 1500 SLT 4x4. The sticker price was $48,000 -- but it didn't take much bartering at the dealer to get $10,000 off that price. After nearly 3 years and 68,000 miles, I traded it in for $31,000 toward the Denali. That's only $7,000 in depreciation
-- even though I put tons of miles on it. Before the first Sierra, I owned a 2010 Toyota Prius Opens a New Window. , and I would turn in my mileage for the standard reimbursement of 50 cents per mile. If my soul could have somehow survived driving that Prius for the last 3 years and 68,000 miles, at 50 cents per-mile, the company would have paid out $34,000 during that time. Since the Sierra only depreciated $7,000, when you add that with the taxes on that value lost, along maintenance, fuel and tags/insurance, my fuzzy math calculation comes to $21,500 for the total ownership cost of the Sierra.
Now, you may be thinking this ridiculously high trade-in value was given just to make me feel better about the Sierra Denali purchase -- but they also discounted the new truck almost $12,000. Once again, this was a fairly normal model-year-end discount that didn't take much negotiation to achieve
-- and my old truck quickly hit their pre-owned inventory with an asking price of $35,000. I'm not sure what they sold it for, but I imagine it was a decent profit, as it was gone within a few weeks. This isn't an unusual case, as demand for used trucks is ridiculously high. Currently on Autotrader, the average asking price for a 3-year-old Sierra Denali 4x4 is $39,000 -- and even the decade-old 2008 models still have an average asking price of nearly $20,000.