Top Ten TCO: Half-Ton Pickups



Ram Tradesman models took three of the top 10 spots in overall TCO and lowest cost per mile.


Full-size, half-ton pickups are the workhorses for fleets. These trucks do it all — from hauling building supplies and towing yellow iron to job sites to carrying contractor bodies, racks, and pullout shelves for vocational applications.  

And full-size pickups come with more configurations than any other vehicle on the road.  

With this in mind, we set out to discover the half-ton pickup models with the lowest total cost of ownership. To get there, we asked the lifecycle cost experts at Vincentric to crunch the numbers on six half-ton pickup models in the 2024 model year.  

The analysis covers a total of 349 configurations for these models: 

  • Ram 1500 
  • Ram 1500 DS (Classic)  
  • Ford F-150  
  • Ford F-150 Lightning  
  • GMC Sierra  
  • GMC Sierra Diesel  
  • Chevrolet Silverado 1500   
  • Chevrolet Silverado 1500 Diesel  
  • Chevrolet Silverado EV  
  • Nissan Titan  
  • Nissan Titan XD  
  • Toyota Tundra  
  • Toyota Tundra Hybrid  

These vehicle configurations include 77 series designations, 22 engine types, seven cab variants, short and long wheelbases, and two- and four-wheel drive models.  

Vincentric calculated its standard eight cost elements: depreciation, financing, fees and taxes, fuel, insurance, maintenance, repairs, and opportunity cost over a five-year period at 15,000 miles a year.  

The analysis ranks the 10 models with the lowest expenses in these categories: depreciation, fuel, maintenance, and overall TCO.  

TCO Observations

Sorting and evaluating the data in various ways, here’s what we found: 

  • Depreciation and fuel equal about 60% of the lifetime expense of a full-size pickup.  
  • Initial costs (calculated as adjusted invoice, or invoice minus incentives) run from $28,995 for the Ram 1500 DS Tradesman Regular Cab to $89,995 for the Ford F-150 Lightning Platinum.  
  • The average initial cost of all 349 configurations is $50,993. Average depreciation is $30,247. 
  • In addition to the lowest initial cost, the Ram 1500 DS Tradesman Regular Cab has the lowest overall TCO. Six Ram 1500 models made it into the top 10 TCO list, followed by three F-150 models and one Tundra model.  
  • An all-electric model, the Ford F-150 Lightning Pro Supercrew 4WD, has the second-lowest overall TCO, driven by the lowest fuel and maintenance costs and middle-of-the-pack initial cost and depreciation.  
  • However, the other six electric model configurations for the F-150 Lightning and Silverado EV do not fare as well. Their higher overall TCO is due to higher-than-average initial costs and even higher depreciation. 
  • Not surprisingly, all-electric trucks return the lowest fuel/power costs. Hybrid models follow, followed by V-6 twin turbos. Diesel models are middle of the pack, hurt by higher pump prices. 
  • On average, configurations with V-6 engines beat those with V-8s in overall TCO rankings. 
  • On average, gas engines return better overall TCO than configurations than the 78 configurations with diesel engines.  
  • On average, the diesel engine configurations produce the highest maintenance costs.  
  • On average, the higher the initial cost, the higher the depreciation, and the worse the TCO.  
  • 44% of the 349 configurations are turbo models. 
  • Over the five-year period, total estimated repair costs for all 349 model configurations have only a $341 variance from best to worst.  



















































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































Depreciation
Make Model Series  Body Style Engine Adjusted Invoice  Depreciation  Fuel  Maintenance  Cost Per Mile
Ram 1500 DS Tradesman  Reg Cab 2WD LWB 3.6L V-6 SMPI DOHC 28,995 20,765 13,841 4,326 0.7895
Ram 1500 Tradesman Quad Cab 2WD SWB 3.6L V-6 SMPI DOHC 37,843 21,963 12,815 3,806 0.8138
Toyota  Tundra SR Crew Max 2WD SWB 3.5L V-6 Direct Injection DOHC Twin turbo 38,864 22,034 13,775 5,366 0.8637
Ram 1500 HFE Quad Cab 2WD SWB 3.6L V-6 SMPI DOHC 39,337 22,207 12,559 6,699 0.8588
Ford F-150 XL Reg Cab 2WD 141 2.7L V-6 Direct Injection OHC Twin turbo 35,210 22,305 12,559 4,980 0.8279
Toyota Tundra SR Dbl Cab 2WD SWB 3.5L V-6 Direct Injection DOHC Twin turbo 36,969 22,514 13,775 5,366 0.8617
Toyota Tundra SR Dbl Cab 4WD SWB 3.5L V-6 Direct Injection DOHC Twin turbo 39,744 22,739 14,473 5,416 0.8874
Toyota Tundra SR Dbl Cab 2WD LWB 3.5L V-6 Direct Injection DOHC Twin turbo 37,273 22,818 13,775 5,366 0.8681
Ford F-150 XL Supercrew 2WD 145 2.7L V-6 Direct Injection OHC Twin turbo 41,557 23,002 12,559 4,980 0.8618
Toyota Tundra SR Dbl Cab 4WD LWB 3.5L V-6 Direct Injection DOHC Twin turbo 40,048 23,043 14,473 5,416 0.8937



























































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































Fuel
Make Model Series  Body Style Engine Adjusted Invoice  Depreciation  Fuel  Maintenance  Cost Per Mile
Ford F-150 Lightning Pro ER Supercrew 4WD Dual Electric Motor 61,495 39,340 5,330 3,030 0.9543
Ford F-150 Lightning Pro Supercrew 4WD Dual Electric Motor 49,995 32,315 5,445 3,030 0.8130
Ford F-150 Lightning XLT Supercrew 4WD Dual Electric Motor 57,495 37,365 5,445 3,030 0.9091
Ford F-150 Lightning Lariat Supercrew 4WD Dual Electric Motor 77,495 54,090 5,445 2,998 1.2191
Ford F-150 Lightning Platinum Supercrew 4WD Dual Electric Motor 89,995 61,340 5,680 3,046 1.3704
Chevrolet Silverado EV 3WT Crew Cab e4WD Dual 191 kW PMSM 72,905 51,225 6,260 4,849 1.2066
Chevrolet Silverado EV 4WT Crew Cab e4WD Dual 191 kW PMSM 77,905 54,425 6,260 4,849 1.2695
Ford F-150 XLT 3.5L PowerBoost Hybrid Supercrew 4WD 157 3.5L V-6 PowerBoost Full Hybrid 52,107 27,827 12,449 4,143 0.9573
Ford F-150 XLT 3.5L PowerBoost Hybrid Supercrew 4WD 145 3.5L V-6 PowerBoost Full Hybrid 51,680 28,000 12,449 4,143 0.9563
Ford F-150 Lariat 3.5L PowerBoost Hybrid Supercrew 4WD 145 3.5L V-6 PowerBoost Full Hybrid 60,863 31,508 12,449 4,215 1.0427



































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































Maintenance
Make Model Series  Body Style Engine Adjusted Invoice  Depreciation  Fuel  Maintenance  Cost Per Mile
Ford F-150 Lightning Lariat Supercrew 4WD Dual Electric Motor 77,495 54,090 5,445 2,998 1.2191
Ford F-150 Lightning Pro ER Supercrew 4WD Dual Electric Motor 61,495 39,340 5,330 3,030 0.9543
Ford F-150 Lightning Pro Supercrew 4WD Dual Electric Motor 49,995 32,315 5,445 3,030 0.8130
Ford F-150 Lightning XLT Supercrew 4WD Dual Electric Motor 57,495 37,365 5,445 3,030 0.9091
Ford F-150 Lightning Platinum Supercrew 4WD Dual Electric Motor 89,995 61,340 5,680 3,046 1.3704
Ram 1500 Big Horn 5.7L V-8 eTorque Quad Cab 2WD SWB 5.7L V-8 Hemi MDS VVT eTorque Engine 45,009 26,404 15,886 3,725 0.9521
Ram 1500 Big Horn 5.7L V-8 eTorque Crew Cab 2WD SWB 5.7L V-8 Hemi MDS VVT eTorque Engine 47,660 27,880 15,886 3,725 0.9834
Ram 1500 Big Horn Crew Cab 2WD LWB 5.7L V-8 SMPI OHV 47,896 28,116 15,886 3,725 0.9895
Ram 1500 Laramie 5.7L V-8 eTorque Crew Cab 2WD SWB 5.7L V-8 Hemi MDS VVT eTorque Engine 53,240 28,160 15,886 3,725 1.0124
Ram 1500 Laramie Crew Cab 2WD LWB 5.7L V-8 SMPI OHV 53,441 28,361 15,886 3,725 1.0173







































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































Overall TCO / Cost Per Mile
Make Model Series  Body Style Engine Adjusted Invoice  Depreciation  Fuel  Maintenance  Cost Per Mile
Ram 1500 DS Tradesman Reg Cab 2WD LWB 3.6L V-6 SMPI DOHC 28,995 20,765 13,841 4,326 0.7895
Ford F-150 Lightning Pro Supercrew 4WD Dual Electric Motor 49,995 32,315 5,445 3,030 0.8130
Ram 1500 Tradesman Quad Cab 2WD SWB 3.6L V-6 SMPI DOHC 37,843 21,963 12,815 3,806 0.8138
Ford F-150 XL Reg Cab 2WD 141 2.7L V-6 Direct injection OHC Twin turbo 35,210 22,305 12,559 4,980 0.8279
Ram 1500 DS SLT Reg Cab 2WD LWB 3.6L V-6 SMPI DOHC 34,421 23,516 13,841 4,326 0.8487
Ram 1500 Big Horn Quad Cab 2WD SWB 3.6L V-6 SMPI DOHC 42,132 23,527 12,815 3,802 0.8525
Ram 1500 Tradesman Crew Cab 2WD SWB 3.6L V-6 SMPI DOHC 40,483 24,428 12,815 3,806 0.8578
Ram 1500 HFE Quad Cab 2WD SWB 3.6L V-6 SMPI DOHC 39,337 22,207 12,559 6,699 0.8588
Ford F-150 XL Supercab 2WD 145 2.7L V-6 Direct injection OHC Twin turbo 39,327 23,497 12,559 4,980 0.8611
Toyota Tundra SR Dbl Cab 2WD SWB 3.5L V-6 Direct injection DOHC Twin turbo 36,969 22,514 13,775 5,366 0.8617

 



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