Find the depreciation rate of your Chevrolet Tahoe in the graph provided below:
A vehicle starts to depreciate — or starts losing value — from the moment you purchase it, and the Chevrolet Tahoe is no different. The greatest amount of depreciation occurs during the first year after the initial purchase. After this first year, the vehicle will depreciate more slowly each year until it hits the five-year mark. Different makes and models depreciate at different rates, so knowing your vehicle’s depreciation rate can help you better understand its long-term value and the total cost of ownership.
Keep in mind that just because the vehicle costs the least to own in the sweet spot we have outlined here, you still may not want to own the vehicle during these depreciation sweet spot years. Although vehicles depreciate less as they get older, they have more repairs. Duh right? However, keep in mind that repairs don’t just cost you money, they cost you time. Reliability is the difference between being able to make it to your destination on time or missing an opportunity because the car broke down.
Check out our article on the best and worst years of the Chevrolet Tahoe to see our reliability ratings for all years of the Tahoe between 2001–2022. We also cover MPG, safety ratings, and a number of other factors. We pulled data from Tahoes registered in our app and surveyed owners to get you data-backed answers on just how good or bad each year of the Chevrolet Tahoe is.
If you want to know the depreciation and maintenance costs for your particular vehicle, use our free “Total Cost of Ownership” tool available in the FIXD App – Android or IOS.
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Chevrolet Tahoe Depreciation
| Model Years | Mileage | Amount Depreciated | Residual Value Percentage | Resale Value |
| 2001 | 264,000 | $ 37,524.94 | 3.7% | $1,454 |
| 2002 | 252,000 | $ 40,005.26 | 3.8% | $1,601 |
| 2003 | 240,000 | $ 41,816.67 | 3.7% | $1,596 |
| 2004 | 228,000 | $ 42,660.52 | 4.0% | $1,776 |
| 2005 | 216,000 | $ 43,156.86 | 3.8% | $1,716 |
| 2006 | 204,000 | $ 41,943.50 | 4.7% | $2,084 |
| 2007 | 192,000 | $ 40,406.63 | 6.6% | $2,874 |
| 2008 | 180,000 | $ 42,131.45 | 6.9% | $3,113 |
| 2009 | 168,000 | $ 45,177.28 | 6.9% | $3,360 |
| 2010 | 156,000 | $ 44,512.96 | 7.5% | $3,593 |
| 2011 | 144,000 | $ 39,860.13 | 15.5% | $7,295 |
| 2012 | 132,000 | $ 40,286.37 | 15.8% | $7,564 |
| 2013 | 120,000 | $ 39,865.76 | 19.2% | $9,491 |
| 2014 | 108,000 | $ 42,485.66 | 20.0% | $10,595 |
| 2015 | 96,000 | $ 35,770.67 | 33.7% | $18,210 |
| 2016 | 84,000 | $ 32,943.13 | 40.6% | $22,515 |
| 2017 | 72,000 | $ 30,898.18 | 46.0% | $26,303 |
| 2018 | 60,000 | $ 27,573.15 | 52.3% | $30,190 |
| 2019 | 48,000 | $ 27,030.60 | 53.5% | $31,063 |
| 2020 | 36,000 | $ 25,870.10 | 56.5% | $33,605 |
| 2021 | 24,000 | $ 10,842.89 | 81.1% | $46,483 |
| 2022 | 12,000 | $ 2,809.38 | 94.8% | $50,771 |
| 2023 | 0 | N/A | N/A | N/A |
The above table shows the approximate depreciation for a Chevrolet Tahoe. It’s based on Kelley Blue Book data since 2001, assuming it’s a vehicle with a base trim, generic color such as black or white, and mileage of 12,000 per year.
Keep in mind that the auto market was heavily affected in 2020 and beyond. Automakers selling new cars during the COVID pandemic raised prices which caused a spike in demand in the used car market as people tried to save money. Many automakers, however, did not drop prices after the pandemic, they kept them so they could make a larger profit.
This is why the most recent years of many vehicles have seemingly experienced less depreciation. Some may have even appreciated due to the heightened levels of inflation created.
Factors That Impact the Chevrolet Tahoe Depreciation Rate
Chevrolet has been a top automaker for many car owners, prioritizing safety and innovation in each vehicle design. When you buy a Chevy car, truck, or SUV, you’re investing in longevity and reliability. Among its class, the Chevrolet Tahoe is one of the least-depreciating SUV models, likely due to its demand, safety, reliability, and lower maintenance costs. Several factors can influence the rate at which your vehicle depreciates, including:
Age
Age is one of the leading factors contributing to your Tahoe’s depreciation rate. Generally, a vehicle depreciates the fastest during the first few years of ownership. During the first year, your Tahoe loses around one-fifth of its total value and loses up to 40% of its value over the first five years you own it. This means that if you buy a 2023 Tahoe for $54,200, its value would be approximately $32,520.
Another important factor to consider is how major updates affect certain model years. For the Tahoe, the last major redesign occurred for the 2021 model year, with the previous redesign in 2015. Therefore, the older generation may mean slower depreciation if the demand for it is high.
Body Type
The body type, or your vehicle’s body style, also affects the depreciation rate. The Chevrolet Tahoe is a full-size SUV that offers varying trims that build on the features and equipment you get in your vehicle. These extra appearance packages, towing options, and other add-ons for the Tahoe can mean better resale value, even beyond the sweet spot years. Additionally, the demand for large SUVs among U.S. drivers means more resale potential, further slowing depreciation.
Mileage
Mileage also influences the depreciation rate of the Chevrolet Tahoe. In general, higher mileage often means more use. Consequently, the more you use your vehicle, the likelier it is to require additional maintenance or repair. There can be varying mileage estimates for different vehicles, so we based our model on a total of 12,000 miles of driving each year. If you travel less than that, your Tahoe may depreciate more slowly. On the other hand, putting more miles on your vehicle could cause it to depreciate faster.
Overall Condition
Your vehicle’s condition — how well it runs and how the exterior and interior look — can also affect depreciation. A car appropriately maintained according to the manufacturer’s maintenance schedule will show less wear and tear than one that hasn’t been as cared for. For this reason, vehicles that have been properly taken care of will be worth more. If you stay on top of your Tahoe’s maintenance schedule, you can avoid damage and costly repairs and keep your vehicle in good condition, both mechanically and cosmetically.
It’s also important to remember that a vehicle may not be worth fixing after a certain point. If it costs just as much or more to fix your vehicle than buy a new one, it might be better to make that purchase rather than invest in something with a declining value.
Color
Although it might not seem like it, color does have an impact on depreciation. Studies show yellow depreciates the slowest at almost 70% slower than average. Beige is a close second after yellow, with other expressive colors such as orange, red, and green depreciating more slowly than average. This is likely due to fewer vehicles of these colors being available, resulting in a smaller supply relative to the demand. Common colors such as white, gray, and black typically depreciate at the average rate.
Other Costs of Chevrolet Tahoe Ownership
Depreciation is only part of the cost of owning your vehicle. Here are some other factors that impact the total cost of vehicle ownership:
Insurance
The amount you pay to insure your Tahoe each year depends on a few factors, including your age and the vehicle’s model year. Insurance premiums vary between providers and locations, so consider shopping around before choosing a provider. The national average cost for a full-coverage policy is $2,014 per year and $622 for minimum coverage. The average cost of insuring your Tahoe can vary, and the model year can greatly affect the average premium. A 2022 Tahoe, for example, costs an average of $735 per year to insure, depending on your age, driving history, and location.
Maintenance
Staying up to date on all your vehicle maintenance can help you ensure a better resale value down the line. Regular maintenance and scheduled repairs as soon as they’re needed are critical for keeping your SUV in good condition. Regular maintenance also ensures you spend less overall and avoid costly repairs due to a lack of proper care. For the Chevrolet Tahoe, regular maintenance costs average around $857 per year.
You can compare maintenance costs by vehicle type using our guide. It’s also important to remember that certain model years may mean more maintenance and repair costs due to reliability issues. The best Tahoe model years associated with the least reliability issues — and therefore slower depreciation — include:
- 2016–2020
- 2013
- 2006–2011
The model years for the Tahoe that are associated with the most reliability issues include the 2015 and 2021 model years, as well as the 2001–2005, 2007–2010, 2012, and 2014 model years. The 2015 and 2021 model years were major redesigns for the Tahoe, resulting in a higher potential for recalls and repairs. Lower engine and transmission reliability are also the main concerns for these model years.
The Best Model Year To Buy a Chevrolet Tahoe
Based on factors including price and reliability (but not depreciation), our choice for the best Chevrolet Tahoe model years to buy are the 2006–2011, 2013, and 2016–2020 model years, but check out our article on the best and worst years of the Chevrolet Tahoe to get the whole story.
Buying a Chevrolet Tahoe New vs. Used
| 20-Year Projection | ||
| Years Since Purchased | Depreciated Value | With Inflation |
| 1 | $51,382 | $56,722 |
| 2 | $43,956 | $51,366 |
| 3 | $30,623 | $35,972 |
| 4 | $28,997 | $34,189 |
| 5 | $28,347 | $33,262 |
| 6 | $24,932 | $29,183 |
| 7 | $22,005 | $25,796 |
| 8 | $18,265 | $21,538 |
| 9 | $10,840 | $12,825 |
| 10 | $10,406 | $12,445 |
| 11 | $8,564 | $10,410 |
| 12 | $8,401 | $10,500 |
| 13 | $4,065 | $5,170 |
| 14 | $3,740 | $4,807 |
| 15 | $3,740 | $4,734 |
| 16 | $3,577 | $4,485 |
| 17 | $2,547 | $3,186 |
| 18 | $2,060 | $2,592 |
| 19 | $2,168 | $2,713 |
| 20 | $2,005 | $2,471 |
The MSRP for a 2023 Chevrolet Tahoe is $54,200, projected to be worth $30,623 in three years. That is a loss of $23,577.00. A 3-year-old Tahoe is valued at $33,605 and has lost $25,870.10 in value from depreciation over three years of ownership.
When thinking about a used vehicle, though, remember to do your research. Refer to reputable information sources such as Kelley Blue Book to help you understand the value you’re getting with your used Tahoe.
Methodology
The data presented in the graph and table apply to the base-model trim for the Chevrolet Tahoe. This includes only the standard options, so remember that different trims can have different values, and advanced features may hold value even better. It’s also important to note that the COVID-era chip shortage can affect the resale value of certain makes and models, as can the vehicle’s condition and whether you sell it privately or through a dealer.
We base our findings on the residual value after depreciation and the costs to maintain or repair each model year of the Chevy Tahoe per mile. The data in this article applies to the Chevrolet Tahoe LS and LT, which are the carry-over trims across all Tahoe model years. Higher trims and additional packages and options for the Tahoe may mean more value over a longer period.
Keep in mind, there are large economic factors at play here too and the sale of new cars has caused shifts in the used market too. There is a stark difference in the cost of vehicles due to car manufacturers seeking higher profit margins after COVID as detailed by CNN and posted by CBS channel 58:
“… (T)he auto industry saw sky-high profits even as sales plummeted. Domestic manufacturers of cars and car parts saw a profit of $32 billion through the third quarter of 2022 (the latest data available) — their largest profit since 2016. Car dealerships also reported record-breaking profits through Q3, according to auto-retail advisers Haig Partners.
That’s because pandemic-era pent-up consumer demand remained strong as supply shifted, allowing automakers to increase their prices and their profit margins. Cars and trucks were sold nearly as soon as they hit dealership lots, and the average price paid for a vehicle in December soared to a near-record high of $46,382, according to J.D. Power.
Data from the Labor Department’s November Consumer Price Index shows American consumers are paying about 20% more for cars than they were in 2019.
The trend could continue into next year — research website Edmunds expects new-car sales to hit 14.8 million in 2023, a marginal increase from last year but well below pre-pandemic levels.
The auto industry has entered a new era: Less choice, higher prices and larger profit margins. So far it seems to be working for them.”
This shift by car companies to create higher profit margins by taking advantage of the heavily-reported-on chip shortage panic of COVID has had rebounding effects upon the value of used cars.
Be aware that newer years (the latest 3-4 model years) may be inflated in price because of this and depending on how big this problem is for the model you are considering – it may even be inflating the price of the older model years.
Frequently Asked Questions About Vehicle Depreciation
Does the Chevrolet Tahoe hold its value?
The Chevrolet Tahoe definitely holds its value, especially for the best model years and those in excellent condition, both mechanically and cosmetically. In fact, J.D. Power ranked the 2022 Chevy Tahoe as having the best resale value among large, full-size SUVs. This means buying a Chevrolet Tahoe can give you lower depreciation overall, with a better resale value down the line.
What are the best years of Chevrolet Tahoe to buy and which ones should you avoid?
Based on depreciation rates and factors such as reliability, the best years of Chevrolet Tahoe are between 2016 and 2021. Overall, Chevrolet Tahoes between these model years have the best safety and reliability ratings and the lowest yearly maintenance costs on average. If you’re planning to buy a used Chevrolet Tahoe, avoid the following model years:
- 2007
- 2008
- 2009
- 2010
- 2012
- 2014
These model years often have more reliability issues and an above-average likelihood of costly engine and transmission maintenance or repairs.
What's a high mileage for a Chevrolet Tahoe?
Determining what counts as high mileage for a Chevrolet Tahoe comes down to the individual vehicle. Usage and maintenance have a lot to do with this. That said, driver surveys have shown that some owners with 175,000 miles or more feel their Tahoes will continue to run for a longer period. Moreover, 19% of surveyed owners believe their vehicle can make it to 200,000 miles.
How old of a Chevrolet Tahoe should you buy to avoid most of the depreciation?
Because the sweet spot for a Chevrolet Tahoe really exists between the 2003 and 2010 model years, consider purchasing a used Tahoe within that range. This will ensure you get five years within that range with a slower depreciation rate.
References
(2021.) 11 Chevrolet Tahoe Statistics You Should Know. Motor and Wheels. Retrieved August 7, 2023, from https://motorandwheels.com/chevrolet-tahoe-statistics/#How_Quickly_Do_Chevrolet_Tahoes_Depreciate
Chevrolet Tahoe. GM Authority. Retrieved August 7, 2023, from https://gmauthority.com/blog/gm/chevrolet/tahoe/
(2022.) Large SUVs Market Size, Share & Trend Analysis Report By Fuel Type (Petrol, Diesel, Electric), By Region, And Segment Forecasts, 2022 – 2028. Grand View Research. Retrieved August 7, 2023, from https://www.grandviewresearch.com/industry-analysis/large-suvs-market-report
(2023.) The Best and Worst Car Colors for Resale Value. iSeeCars. Retrieved August 7, 2023, from https://www.iseecars.com/car-color-study
(2023.) Average Cost of Car Insurance in August 2023. Bankrate. Retrieved August 7, 2023, from https://www.bankrate.com/insurance/car/average-cost-of-car-insurance/
(2022.) 2022 Best Large SUV Resale Ratings. J.D. Power. Retrieved August 7, 2023, from https://www.jdpower.com/cars/ratings/depreciation/2022/large-suv
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