Paying more for the Sierra 1500 is perfectly normal because it’s a luxury truck. The higher price tag implies higher value and higher quality for everyday driving, work and off-road driving. However, it may also have one costly drawback.
The 2022 GMC Sierra 1500 is expensive to run
Unfortunately, this is the most expensive regular full-size truck to run. The only truck with higher running costs for 2022 is the Ford F-150 Raptor, and that’s a high-performance option.
It costs about $6,991 a year to run. This calculation is based on the cost of gas per mile, the cost of gas per year, and the annual insurance rate. The annual insurance cost is about $1,774.
You can expect to pay about $0.46 for gas per mile and about $5,216 for annual fuel costs. That’s because the 6.2-liter EcoTech V6 is thirsty. It puts out 420 horsepower and 460 lb-ft of torque while getting 15 mpg EPA in the city and up to 20 mpg on the highway.
These numbers include models equipped with all-wheel drive. Also, off-road driving can bring fuel economy down to around 11 mpg.
It is also important to consider these prices as we start in 2023. The increasing cost of inflation may lead to an increase in insurance rates and fuel prices.
How much does the 2023 Sierra 1500 cost?
Pricing for the 2023 GMC Sierra 1500 starts at $37,100, and the range-topping Denali Ultimate model goes for $80,500. The destination fee then adds another $1,895 to the price tag.
These prices do not include merchant prices. Also, if you go for cashless financing and 60-month financing, the 3 percent interest rate could come to $1,479 per month. These rates are subject to change based on rising interest rates.
For comparison’s sake, the 2023 Ford F-150 MSRP starts at $34,585 for the base work truck. So, there’s only $2,515 between base models. The top-spec F-150 Limited raises the MSRP to $83,910.
So, the most luxurious Ford F-150 is actually $3,410 more than the Denali Ultimate. But the F-150 has a hybrid engine that offers better fuel economy. It’s about $100 cheaper just for insurance.
Does the GMC Sierra have a good warranty?
2023 has a medium warranty. It’s covered for three years or 36,000 miles, depending on which comes first. The power train is protected for five years or 60,000 miles. It’s bumper-to-bumper coverage plus it covers one free service visit.
Emissions components are covered for two years or 24,000 miles. Select emission components are covered for eight years or 80,000 miles.
Components covered include catalytic converters, engine control modules, transmission control modules, and other critical electronic control units for diagnostic emissions. You can choose roadside assistance, additional protection plans, and wheel and tire coverage.
So, Warranty specs are average, and the Sierra 1500 has a slightly higher starting price. Insurance is not much more expensive compared to competitors, but its fuel costs are higher.
