Car Buyer Labs

Car Buying Advice, Tips, and Reviews

A close up view of the Chevy logo on a red Chevy Sonic is shown.

What To Consider When Searching For The Best Chevy Lease Deals?

If you’ve decided that leasing a new Chevy is better for you and your personal needs than buying, you are in luck, as there are always new Chevy lease deals available. Now, these lease deals will vary throughout the year. What you find at the beginning of the year will not be the same as those you find at the end of the year. Sometimes waiting for the new model years to come out will help you land a better price on the previous year’s lease for models remaining on the lot. So when it comes to finding the best lease deals, it is important to keep in mind what is current might not still be there when you go to the lot. However, there are a few tips to consider right along with what current deals are available.

Each Dealership Will Be Different

General Motors and Chevrolet will offer national lease deals throughout the year. These are Chevy lease deals you can find at every dealership throughout the country (as long as the particular models are still available on the lot). However, beyond this, many individual dealerships will offer their deals. These special deals may only be available and offered by the select dealership. This might be the case if a dealership has too many of one particular vehicle, or they are trying to make room for the next model year and would like to push the previous model years to open space. Keep all of this in mind when looking around for the right lease deal. You can check the Chevrolet website, but you should also look at your local dealership’s website for additional sales.

Time Of Year Can Make A Difference

A red 2020 Chevy Blazer, a popular vehicle among Chevy lease deals, is driving through a dark lit tunnel.

The time of year, looking for a new Chevy lease deal can make all the difference in the world. Dealerships will try to offer money-saving opportunities throughout the year, but there are certain months where you’ll find better deals than others.

First, you should look up when the new model year comes out for a particular vehicle. Typically a new model year will come out in the fall or early winter of the previous year (for example, a 2020 model year might come out in the fall of 2019). This isn’t always the case, as some model years, based on manufacturing needs, can come out at any time, which is why knowing when the vehicles do come out can help you. If you know of a vehicle you want and wait for the next model year to come out, you can likely secure an improved lease deal if you shop with the older model (so opting to lease a 2019 when the 2020 is now available). The dealership will want to move the previous model year off the lot, so there’s a good chance the lease will be more affordable.

If at all possible, you might want to wait for the end of the year as well. Many dealerships are looking to hit a specific quota for the year, so they are more likely to offer improved deals at this time of the year (plus, what better holiday gift is there than a new vehicle?). Now, this is usually an optimal time to buy a new Chevy, so the buying deals are even better, but you’ll likely still find some solid leasing deals as well.

Be Mindful Of The Specific Trims

When it comes to a lease deal, it may come down to the specific trim package. So when you find a leasing deal, you will need to pay attention to the exact model specifications. The last thing you want is to find a leasing option that is attractive to you, but then discover you don’t qualify because you went for a trim package that isn’t offered under the lease specifics.

For Example, for October 2019, the 2019 Chevrolet Colorado Crew 4WD LT comes with a $399 a month lease for 39 months for qualified lessees looking for an ultra low-mileage lease. This means you need to apply for this exact trim package. Any other trim package will have a different leasing price.

What Else To Consider

When looking for a leasing deal, there are a few lines of information you need to make yourself aware of before signing any documentation.

First, you will see the term “qualified lessees.” This means your credit level needs to meet or exceed a specific score to qualify for the lease deal. If it doesn’t, you may end up paying more, or you may not qualify to lease the particular vehicle at all. While your credit score is more impactful for buying a car, you should still focus on boosting it before a lease, as well.

A pen is on a paper that says 'lease agreement.'

There are also leases known as “ultra low-mileage.” While all leases have set mileage limits, you need to keep your vehicle under this amount; otherwise, you will pay a hefty fee when turning the vehicle in. All manufacturers have a Certified Pre-Owned program, in which the vehicle comes with several perks, which allows a used car buyer the ability to purchase a lower mile vehicle that comes with many of the same protective features as a new vehicle. Plus, a lower mile vehicle can be sold for more, so it is an incentive for the dealer to keep your mileage low (and an incentive for you to keep the miles low as your monthly lease payment will be lower when signing for an ultra low-mileage lease).

For example, if you were to lease the 2020 Chevrolet Colorado Crew Cab 4WD LT for 36 months, if you qualified with your credit score you would pay $319 a month (after paying $5,919 at signing. If you have a lower than desired credit score you may need to pay a security deposit on top of this). The 36 months (three years) allow you 30,000 miles. If you drive over this amount, you are charged a quarter for every mile you go over. This means for every 1,000 miles you drive over 30,000; you’ll pay $250 upon turning the car back in.

This is why you need to be aware of mileage stipulations and other tags within the text. The price may be extremely desirable, but if you drive your vehicle more than 10,000 miles a year, you’ll end up paying more on the back-end.

So while there is always a great leasing option available, if this is the first time you are looking for a lease, you’ll want to keep all of this in mind.

Landing The Right Chevy Lease Deals For Your Budget

When going through the current lease deals, there is likely a price saving opportunity for you available. However, if there isn’t, or you’re not satisfied with what is offered, make sure to follow the suggested tips and tricks. From waiting until the next model year comes out to holding off until a different time of the year, sometimes your best course of action is to play the waiting game or even to visit different dealerships to see if the particular lot has a different special going on. Leasing a vehicle often comes with an incentive, so just be patient. Eventually, you’ll find the right car at the right leasing agreement.