Fact Check: Is Chevy Really Offering $11,100 Off Silverado Trucks?

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Senior Pricing Analyst

As CarsDirect’s resident pricing analyst, Alex offers must-know analysis of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured in publications such as Car and Driver, Motor Trend, Automobile Magazine and Autoblog.

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, Senior Pricing Analyst - August 15, 2017

With Labor Day approaching, General Motors is aiming for shock-and-awe by advertising $11,100 off the Chevy Silverado. However, a closer look reveals that you'll have to jump through some hoops in order to get to that number.

Based on how much cash is at stake, it's important to understand who's eligible and who isn't. Based on our analysis, the savings are real, but there are some key things you'll want to be aware of before heading to your local dealer.

Our Analysis

According to GM, it's possible to save up to $11,100 off select 2017 Silverados this month. The amount is based on a combination of different offers for the Silverado 1500 4x4 Crew Cab with All Star Package based on an MSRP of $47,680.

Here's a breakdown of how it works.

$6,000 Total Cash Allowance

This is actually a combination of discounts on the LT All Star Edition Crew Cab. Based on our analysis, the first part of this is based on a $1,000 cash rebate, a $500 bonus and a $1,000 package incentive when choosing the All Star.

Finally, there's a $3,500 bonus. It's the same promotion you'll find on all LS, 1LT and LTZ versions of the Silverado Crew Cab. Altogether, that equates to $6,000 in potential savings.

$2,850 Price Reduction Below MSRP

This will probably be the most confusing piece for shoppers. This actually represents the added savings of GM Supplier Pricing. Unfortunately, the amount will vary based on the particular truck configuration you're interested in.

Based on our analysis, Supplier Pricing equates to the factory invoice price plus a $200 program fee. As far as we can see, the amount of $2,850 accurately reflects what we expect to see on a truck with an MSRP of $47,680.

$1,500 Chevy Loyalty Cash

Introduced just this past Saturday, this is available to owners & lessees of any 1999-or-newer Chevy model. You don't have to trade-in your current car, and you can transfer the discount between members of the same household.

Previously, the best loyalty-related offer was a rather paltry $500 off for current GM lessees. As a result, this is a surprisingly unusual offer for this model that we think is worth taking advantage of.

$750 Option Package Discount

This is a built-in discount available when selecting the All Star Edition. It reduces its cost from $2,275 down to $1,525.

Our Verdict

There are indeed $11,100 in potential discounts on the Silverado this month. However, you'll have to select a qualifying truck configuration and also be eligible for the loyalty discount. It's also worth noting that these are geared toward purchases. If you're looking to lease, you won't get the same discount.

The main alternative is to take what's called standalone financing consisting of 0% APR for 60 months. Given that there's $11,100 on the table, odds are the low rate won't make the most sense for a lot of shoppers. That said, given the fact that these offers expire August 31, we suspect there's a good chance even better deals may arrive for Labor Day.

Build and price a Silverado 1500 »

, Senior Pricing Analyst

As CarsDirect’s resident pricing analyst, Alex offers must-know analysis of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured in publications such as Car and Driver, Motor Trend, Automobile Magazine and Autoblog.

Follow On: Twitter | Website

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