Time to buy?
The sales show must go on, somehow. The coronavirus pandemic will continue to put a serious dent in vehicle sales across the country for the foreseeable future, but this doesn't mean dealerships are completely shut down. Many have moved their operations online and are offering special social distance vehicle home delivery. Combined with various interest-free financing and deferred payment programs, it may not be such a bad time to buy. And Chevrolet is, once again, offering very attractive incentives for its full-size pickup truck.
The 2020 Chevy Silverado 1500 (and unsold 2019 models) is on sale right now with discounts up to $6,500 off for certain trims. Now, those who have been following the Silverado's 2020 monthly discounts will note this offer isn't as generous as February (up to $8,000 in discounts) or January ($10,000), though it's better than last month ($6,000).
However, this discount is better than that of rival Ford's. As we also recently reported, there's currently a nationwide Ford F-150 sale of $5,000 off select trims. Although truck buyers are typically very loyal to one specific brand, those preparing to buy a truck for the first time may be less so. They could simply be looking for the best deal possible, and Chevy wants to win them over. There are a few Silverado discounts currently underway and, perhaps a bit surprisingly, they're set to expire tomorrow, April 7. Could they possibly be extended or even improved? We'll know soon enough. In the meantime, here's what's currently being offered:
- 0 percent APR for 84 months through GM Financial
- Available on all 2019 and 2020 Silverado 1500 models
- Deferred monthly payments for the first 120 days
- $6,500 customer cash
- Available on select 2020 Silverado 1500 Crew Cab models
- $6,000 customer cash
- Available on select 2019 Silverado 1500 Crew Cab models
The 2020 Silverado is unchanged from the previous model year and there are only slightly higher prices for some trim levels. A heavily updated Silverado is supposedly scheduled to arrive for 2021.
It's also interesting to note that Chevy is only offering these prices for the first week of the month instead of for the typical four weeks. The likely reason for this is the uncertainty of how the pandemic will continue to hurt the economy. In other words, Chevy is taking the month of April week by week.