The 2024 Chevrolet Equinox EV Is More Expensive To Lease Than The Blazer EV

Even though the Blazer EV is larger and more expensive to buy than the Equinox EV.

Chevrolet Equinox EV

Iulian Dnistran

By: Iulian Dnistran

Apr 8, 2024 at 12:00pm ET

Add InsideEVs as a preferred source in Google

Comment

A lot is riding on the shoulders of the 2024 Chevrolet Equinox EV crossover. With the discontinuation of the Bolt EV and Bolt EUV, it’s now Chevrolet’s cheapest all-electric model and General Motors has high hopes of attracting more customers who want the latest battery-powered, somewhat affordable crossover.

But the pricing strategy, at least at the moment, doesn’t seem to do the entry-level Equinox EV any favors because, as it turns out, it’s more expensive to lease an Equinox EV than a larger Blazer EV.

Get Fully Charged

To lease or not to lease the Equinox EV?

The first lease deal for the 2024 Chevrolet Equinox EV is in, but it's not looking so good. Compared to the larger Blazer EV, the monthly lease fee for the Equinox EV is bigger than the Blazer EV.

Yes, you read that correctly. Even though the Equinox EV is currently $2,700 cheaper to buy than the Blazer EV, it’s actually dearer to lease. In fact, you could even get an all-wheel drive Blazer EV for less money per month than a front-wheel drive Equinox EV, as CarsDirect found out recently.

More Stories Like This

The BMW i4 Is Now The Cheapest BMW To Lease In The U.S.

The Hyundai Ioniq 6 Is Now The Cheapest Car To Lease In The U.S.

You Can Now Lease The Rivian R1S And Get The $7,500 Tax Credit

Yes, The Revised 2024 EV Tax Credits Still Count If You Lease The Car

The 2024 Chevy Equinox EV in front-wheel drive RS trim is listed at $569 per month with a $2,919 down payment and a 39-month term. That means the effective monthly fee is $644. By comparison, the Blazer EV in front-wheel drive LT trim is listed at $469 with a $2,819 down payment, bringing the effective monthly cost to $541. The all-wheel drive Blazer RS has a lease deal of $549 per month with a $2,869 down payment. That’s $623 per month, $21 less than the smaller, front-wheel drive Equinox EV.

So, what gives? Well, it’s worth mentioning that the cheapest version of the Equinox EV, known as the LT, isn’t yet on sale. That will come later this year with a starting price of $35,995 and an estimated driving range of 319 miles on a full charge.

Gallery: 2024 Chevrolet Equinox EV

MY24_Chevy_EquinoxEV_1LT

MY24_Chevy_EquinoxEV_3RS MY24 Chevrolet Equinox EV 3LT MY24_Chevy_EquinoxEV_1LT - 2 MY24_Chevy_EquinoxEV_3RS - 2 MY24_Chevy_EquinoxEV_1LT - 3

What do you think?

View

Comments

Then, there’s the issue of residual value. As reported by CarsDirect, the Equinox EV’s first lease deal is based on a residual value of 53% and a 7.39% APR. Furthermore, there’s no lease cash for Chevy’s entry-level EV and, to make matters worse, the lease price includes a discount that’s only available if you’re coming from another lease. If not, the down payment goes up by $500. However, GM is offering a $3,000 discount on the Blazer EV for Chevy Bolt owners and lessees that isn’t available for the Blazer EV.

Meanwhile, the Blazer EV lease for the LT trim is based on a 52% residual value and a $1,000 loyalty cash incentive, and there’s also a much better interest rate of 3.24%.

Get the InsideEvs Newsletter

back

Subscribe For more info, read our Privacy Policy & Terms of Use.

We want your opinion!

What would you like to see on Insideevs.com?

Take our 3 minute survey.

- The InsideEVs team

Share this Story

GO TO COMMENTS

(

)

Got a tip for us? Email: tips@insideevs.com

View all comments ( )

Trending

GM's Next-Generation EV Platform Has 30% Less Wiring And 20% Less Battery

Can The BMW iX3 Take Down The Tesla Model Y L And Rivian R2?

GM's OnStar AI Assistant Debuts In The Cadillac Lyriq

Electrify America’s Largest EV Charging Station Is Missing One Big Thing