It's a great truck if you want to have decent fuel mileage, but still have the ability to tow or haul. I regularly tow a 200 pound trailer with an 1100 pound generator on it, and I can't tell it's behind me (max tow weight is 4000 pounds). When hauling bags of sand or concrete blocks, the stock suspension does exceptionally well, with only a 3 - 3.5 inch drop. (An upgrade to load adjusting shocks though keeps this around 1 - 1.5 inches).
I bought this Colorado used 2 years ago. Other than normal servicing, all I have replaced is the battery at 5 years. I drove it home (550 miles) in a snow storm and got 24.0 on the first tank and 24.4 mpg on the second. In town I get between 20 and 21. The work truck the seats are non-reclining and terrible. I replaced them with a used set of very comfortable LT seats. Traction on the OEM General Ameritracs is terrible. I now have 74,000 miles and can not wear them out. I bought two General AT22 for this winter and the traction is unbelievable. I'll buy two more as soon as I wear out the original Ameritracs. I'm looking at a 2006 for my daughter this week. Great truck!!!
I drive a 2005 Colorado and very, very sorry I purchased it.
Here is the laundry list of problems with my truck, and all have resorted to one thing---money straight out of my pocket into a pit:
1. I am on my 3rd blower fan
2. The ABS light came on and cost hundreds of dollars to fix
3. Fuel cap light on (over $700 to fix)
4. Replaced ignition switch when truck could not drive over ~40mph.
5. Transmission has an extremely difficult time shifting out of 1st gear
6. There is a terrible musty smell during the summer when the AC is used.
I have read to fix costs hundreds of dollars
Overall disappointed and won't buy (or advise anyone) to purchase of this truck or other Chevy/GM product
I bought my Colorado brand new, and have had nothing but trouble with it. It's died on me twice, I continue to have problems with the cd player. The AC squeals like a stuck pig, plastic molding had warped, carpeting comes up in chunks of fuzz. I've had problems with the ignition switch, airbag sensor, cruise control light, and interior paneling. The interior is of very cheap material and reeks of poor design. It's a sharp looking truck, and when it's not in the shop it drives and handles ok. Unless you're a die hard Chevy fan, I'd advise you to look elsewhere for a truck. Based on my experience with this, I'll never buy another Chevy truck.