If it is your first attempt at leasing a car, the process can seem confusing and clothed to fit business owners, for their expense deductions, or persons who simply cannot vehicle payments. In reality, however, there are numerous benefits to leasing automobiles. Chevy equinox lease deals are agreements between the automaker and the shopper, allowing the latter to use the vehicle for a specific period.
If you are in the market for the Chevy Equinox 2020, you can opt for lease periods of 24, 36, and 39 months such as is the case with chevy bolt lease deals. However, lease terms often vary from one car dealer to the next, and negotiating for a great, deal is important.
If you plan to drive a lot, the Chevy Equinox lease probably isn’t for you. Most of the agreements specify a surcharge for driving over 10,000 miles per year. If you want a limitless driving option, you should try buying the Chevy Equinox instead. The 2020 model comes with incredible financing options for buyers.
For example, there is a $1,250 Chevrolet bonus cash program and a promotional APR offer in financing incentives. Leasing the Chevy Equinox is a superior deal, especially if you currently own or lease a 2005 model, or a newer non-GM truck or passenger car.
It means if you can qualify for the $2,000 conquest bonus cash if you are a valid owner of the Cadillac, GMC, Oldsmobile, Saturn, non-Buick, Chevrolet, Hummer, or Pontiac are eligible for conquest bonus cash.
Besides, GM has a consumer cash program amounting to $1,500 in rebates. However, you can also rent a car for a month for 300, if the three cash incentives are not appealing. This option is suitable for shoppers who need a car for the short term.
Chevy Equinox Lease Rates
Lower out-of-pocket payment when obtaining and maintaining the vehicle is perhaps the greatest benefit of leasing the Chevy Equinox. There are plenty of great chevy equinox lease rates in the market in 2019.
Before we break down the figures, it pays to understand from the onset that these leases usually require little to no down payment. The situation varies from consumer to consumer, depending on your credit score. You can check our cheapest car to lease with no money down a resource for more insights.
For the most part, you do not pay sales tax charges upfront with chevy equinox lease deals. This goes a long way to improve your lease rates for Chevy Equinox. Additionally, lower monthly payments compared to buying further lower the lease rates.
If the lease rates become unmanageable along the way, leasing gives you the pleasure to own a new automobile every few years. You can always opt-out of the lease agreement.
2019 Chevy Equinox Rates
The 2019 Chevrolet Equinox FWD LT total $7,371 over a 39-month term. The car has an MRSP of $28,395, meaning you will pay over $7k for the vehicle’s depreciation in 39 months. The deal provides excellent value for your dollars, with no responsibility for car ownership after more than three years of usage.
However, the contract comes with a purchase option at the end of the lease. If you intend to buy the vehicle at lease, you’ll want to determine the amount at lease signing.
There are many Chevrolet Equinox models in the market with offers starting from $244 to about $377 per month. This is against a $261 estimated monthly average for the Chevrolet Equinox LT, for 36 months.
However, depending on the features you want, there are other leasing options to consider such as the Chevrolet Equinox LS available from $244 per month, for 36 months.
2020 Chevy Equinox Rates
If you are among the over 4 million consumers whose leases are ending in 2019, you may want to consider leasing the newer 2020 Chevrolet Equinox FWD LT model available from $219 per month inclusive of tax, for 36 months with a $0 down payment. Nonetheless, you may want to see if you qualify for the GM employee discount, in which your household must have a GM lease.
The 2020 Chevy Equinox lease can change at 10,000 miles. The initial offer for the 2020 Equinox LT, however, starts at $239 per month for 39 months covering 10,000 miles per year and $2,939 due at signing. This gives an effective monthly cost of $314, availing great value in this price category. Since this offer is nearly identical to the same 2019 Equinox model, opt for 2020 make if you are leasing.
Chevy Equinox Lease Rates vs Other Leases
The average monthly lease payment for a new car in the US is about $487. If you are considering the market average, Chevy Equinox’s monthly average payment of $261 is still lower. Additionally, monthly payments for the Chevrolet Equinox are as high as $189 or $208 per month lower than loan financing.
Chevy equinox lease deals are still superior to the average costs of either a used car or a new-car purchase. This is because new car purchases require approximately $548 every month with used cars averagely costing $411 per month.
Chevy Equinox Lease No Money Down
You can lease the Chevrolet Equinox with no upfront down payment money, sometimes known as zero dollars down. The chevy equinox lease no money down deals are contract agreements where shoppers allowing shoppers to lease the equinox without paying a capital reduction cost, or down payment. In most situations, lease deals advertised with upfront costs are also available with $0 down.
This is one of the advantages of leasing against buying the Chevy Equinox with a loan. Most loan offers require a down payment, which often increases for bad credit consumers. Leases, on the other hand, do not. Nonetheless, without paying a fee to reduce the capital cost, you should expect higher monthly payments. Zero down lease deals usually exempt customers from pre-paying various lease obligations.
Zero Down Lease vs. Low Monthly Payments
Typically, with every $1,000 you pay to reduce the capital cost or down payment, your lease payment will reduce by approximately $50 to $40. Therefore, when considering chevy equinox lease deals, you have to determine whether to trade off down payment cash for higher monthly payments.
Therefore, even as you get a Chevy Equinox lease without a down payment, it might not be as good as the actual deal. This is why we recommend making comparisons before deciding your best choice. Many auto traders have free online lease evaluators for doing the comparisons.
You should also know about the money factor when buying no money down lease deals. For instance, some special equinox promotional leases require a down payment but carry a very low money factor. However, you might miss the low money factor if you are not paying the capital cost reduction upfront. Dealers often do not reveal the money factor.
You would be oblivious to the hidden changes without using a comparison tool. Although the $0 down Chevy Equinox leases might look appealing at first, you should use a calculator tool to see if there are hidden charges.
Zero Down Chevy Equinox Lease Deals
The new Chevrolet Equinox LT lease is available at $159 per month over 24 months with a $3000 down payment. The same car is available with zero down payment at $277 per month for 39 months. However, other payments still apply, including the first payment, title, fees due at signing, and license.
The latest 2020 Chevrolet Equinox LS lease is available at $190 per month over 36 months with a $3000 down payment. Its zero-down lease is selling at $249 per month for 48 months. Similar to the 2019 model, other costs still apply.
Another model, the 2020 Chevrolet Equinox LS AWD lease is on offer for $198 per month over the 36-month duration with $3000 down. However, the $0 down lease for the same model is going for $265per month over 48 months.
Take note that all chevy equinox lease deals with no security deposit are available on approved credit. That is another essential factor to consider when getting a zero-down lease for the equinox.
Chevy Equinox Awd Lease $139
If you cannot find what you are looking for in a used automobile and are serious about leasing, there are ways to reduce what it costs. Monthly payments usually cater to the depreciation of the car. This value drops over the lease term.
Other factors that reduce during the life of your lease include a down payment, sales, and interest rates. This has made it possible to access special chevy equinox AWD lease $139 deals.
For example, Lester Glenn Chevrolet has a special offer as a Fall kickoff event for Equinox lease buyers. The car dealership is offering the new Chevrolet Equinox AWD LT lease for $139 per month over 24 months, with a $1,977 down payment.
However, you can choose from two other payment options. For the same model, pay $97 per month for 24 months with $2,997 down, or pay $227 per month over 24 months with $0 down.
Other charges that come with a lease are a $399 documentation fee and the first payment when signing. For this special lease deal, however, you get various rebates including a $250 GM select market incremental CCR program, $1,500 for the GM competitive lessee program, a $400 GM incremental program, and a $350 GM select market incremental program.
While many people think, leasing cars is a bad financial decision, it makes sense if you meet the criteria for car leasing. Chevy equinox lease deals, for example, allow consumers to get a new car every three years or less. Most lease deals carry cash rebates from manufacturers, making it even more convenient. However, it is for those who drive 10,000 miles or less per year, and with excellent credit.
Frequently Asked Questions (FAQ)
How much is a lease on a Chevy Equinox?
The cost of a lease on the Chevy Equinox varies depending on the make. For instance, Equinox carries a total cost of $7,371 over a 39-month term, with a factory rebate of $2,750, on top of a $2,100 discounted GM supplier pricing. You can also get the discounted supplier pricing on the 2020 Equinox, though with a lower rebate of $2,500 at $235 per month for 24 months including $2,500 when signing.
Is leasing a good idea?
Leasing is a good idea because it often results in 30% to 60% lower monthly payments than buying a car. For instance, the Chevrolet Equinox has between $189 and $208 lower monthly payments than purchasing with a loan. Besides, leasing cars for 36 months or less usually avail bumper to bumper warranty from the manufacturers. This means getting cover for the entire lease and save on major repair costs. In some instances, manufacturers offer free vehicle maintenance for the first few years. Besides, leasing is the best option for enjoying the newest technological advances plus a host of safety features. This is because it allows consumers to drive a new car every two or three years.
What are the disadvantages of leasing a car?
Leasing is not for everyone. One of the major downsides is that it is a costlier option over the long term. First off, you must watch the number of miles since they all come with limited mileage over the lease term, and charges for exceeding those limits. You will also pay insurance that is more expensive for the car. If you need to customize the vehicle, you cannot do it on a lease deal.
Is it worth it to lease a car?
Car leasing is worth the trouble, depending on your circumstances. If you want lower monthly payments with no repair costs, leasing might be the best deal. In addition, it prevents you from the hassles of selling the car and provides the opportunity to drive a brand new model after a few years. However, you need to evaluate the pros and cons to decide if it is suitable for you.