Used 2016 Chevrolet Colorado for Sale nearToronto, ON

How much does the 2016 Chevrolet Colorado cost?

Prices have softened 15.90% compared to this time last year, making it a favourable time to shop this model year.

There are 50 listings available, which gives you a modest amount of inventory to compare.

Is the 2016 Chevrolet Colorado a good car?

Generally — the 2016 Chevrolet Colorado earns a 4.2/5 user rating, which points to solid owner satisfaction. Owners commonly praise its value, performance, and comfort, and many like its manageable size compared with other midsize pickups. It also fits well if you want a truck that balances everyday usability with real capability, especially since the overview highlights its comfort-and-utility mix and useful equipment. With 32.0% of listings marked as good or great deals, you have a decent chance of finding a competitive offer.

Is the 2016 Chevrolet Colorado reliable?

Owners rate it 4.2/5, a solid signal of long-term satisfaction.

The owner feedback points to a truck that many people can count on for everyday use, with positive comments centred on value, performance, and comfort. That said, the broader model-year overview also notes some transmission concerns on second-generation models, so reliability-minded used buyers should pay close attention to service history and how the truck has been maintained. For long-term ownership, a careful inspection matters because drivetrain issues can be costly if they surface after purchase.

Is now a good time to buy a used 2016 Chevrolet Colorado?

This looks like a moderate, selective buyer’s market, so you can shop patiently and still find worthwhile options.

• Deal availability: 32.0% of listings are priced as good or great deals.
• Inventory: There are 50 listings available.
• Price trend: Prices have softened 15.90% compared with last year.

If you find a listing below $18,793 CAD, that's toward the low end of the year-round range and worth acting on quickly.

What is the 2016 Chevrolet Colorado's resale value?

The current average of $19,213 CAD sits slightly below last year's $22,845 CAD.

That drop suggests the market has become more favourable for buyers, but it also means future sellers may face more price pressure if the trend continues. If you buy now, you may be entering at a lower cost basis than owners did a year ago, which can help soften depreciation risk. Strong demand for a practical midsize pickup can still support resale, especially if the truck is well equipped and properly maintained.

Vehicles with solid owner satisfaction ratings, like this model year's 4.2/5, tend to retain buyer demand, which supports resale value over time.

Should I buy a 2016 Chevrolet Colorado or consider a different year?

If you're weighing the 2016 against nearby model years, here's how to think about it:

Choose the 2016 if:

• 32.0% of listings are priced as good or great deals.
• Price trend: Prices have softened 15.90% compared with last year.
• Owners rate it 4.2/5 — a solid satisfaction signal.

The bottom line: The 2016 Colorado is a sensible pick if you want a midsize pickup with a good mix of comfort, capability, and value, especially at today’s softer prices. If you’re price-sensitive, you can also compare nearby years, but the 2016 stands out as a strong all-rounder when you find one with the right equipment and a clean history.

These recommendations are based on CarGurus' proprietary market data from October 20, 2026, CarGurus experts' opinions, and generative AI.