Chevy Lease Deals
Buying a new or used vehicle from an independent dealership has its perks. One of them is the option of leasing your ideal vehicle at an affordable rate. From monthly deals to ongoing incentives and rebates, DePaula Chevy has offers for all models that buyers can take advantage of. In many cases, consumers prefer leasing a new vehicle over purchasing a new vehicle, especially because a new car’s value depreciates rapidly within the first two years of use.
In fact, a vehicle’s value begins depreciating the moment it leaves the lot. A brand-new vehicle depreciates as much as 20 percent in the first year and between 15 and 25 percent in years following. A new car can lose over 50 percent of its value in the first five years. Hence, the option of leasing a vehicle—with no purchasing obligation—has become the smartest option for thrifty or indecisive buyers.
What is a lease?
It is important to differentiate between renting a vehicle and leasing a vehicle. When you lease a vehicle, you are entering into a contract with the lessor, or granter of the lease, and agreeing to pay a predetermined monthly cost for a specific amount of time, usually more than a year. When you rent a vehicle, you are essentially “borrowing” a vehicle for days or months at a time for a fixed rate—essentially a short-term solution for a short-term need, such as business travel or sightseeing as a tourist. Both types of businesses work on a different platform; for one, the vehicle is an asset, and for the other, both customer and vehicle are assets.
The month-to-month charge for leasing a vehicle is determined during contract negotiation. The monthly cost is calculated by taking the total cost for a specific amount of time divided by the number of months the drivers wants to have possession of the vehicle. The total cost of the vehicle, based on the agreed-upon duration, is referred to as the capitalized cost, or the “cap” cost. The dealership typically offers a cap cost or lease price, that is less than the manufacturer’s suggested retail price (MSRP) or sticker price. There are sometimes additional legal or service fees in addition to the first monthly payment, but that is a common industry standard. You can even use the trade-in value of a vehicle you’re relinquishing to the dealership toward the cap cost of the vehicle you would like to lease. Moreover, DePaula offers other incentives and rebates that make leasing a vehicle the most cost-effective option.
Month-to-Month Lease Deals
At DePaula Chevy, we offer month-to-month lease deals on new Chevy models, including cars, trucks, and SUVs.
Here’s an example of what we had for March 2018.
2018 Chevrolet Equinox LS
- $79/month for a 36-month lease, with $1,999 due at signing and no security deposit
- $129/month for a 3- month lease, with no down payment and no security deposit
- Price includes $500 select in market rebate, $2,500 in conquest cash, $1,000 leash cash, and $2,000 flex cash
- Cheapest listing: $23,400; our listing price for the Equinox is over $4,000 less than the MSRP
2018 Chevrolet Cruze LS
- $99/month for a 36-month lease, with $1,999 due at inception and no security deposit
- $159/month for a 36-month lease, with no down payment and no security deposit
- Price includes $2,500 in conquest cash, $500 leash cash, and $2,000 flex cash
- Cheapest listing: $15,000; our listing price for the Cruze is over $5,000 less than the MSRP
2018 Chevrolet Silverado WT
- $189/month for a 36-month lease. with $1,999 due at inception and no security deposit
- $239/month for a 36-month lease, with no down payment and no security deposit
- Price includes $1,750 select in market rebate, $2,500 in conquest cash, $3,750 leash cash, and $2,000 flex cash
- Cheapest listing: $25,000; our listing price for the Cruze is over $7,000 less than the MSRP
2018 Chevrolet Malibu LS
- $119/month for a 36-month lease, with $1,999 due at inception and no security deposit
- $169/month for a 36-month lease, with no down payment and no security deposit
- Price includes $2,500 in conquest cash and $2,000 flex cash
- Cheapest listing: $18,500l our listing price for the Cruze is over $4,000 less than the MSRP
The above offers do not include tax, title, or motor vehicle department fees and are for closed-end leases. Only qualified buyers are eligible for these special offers. For this offer, only 2008 or newer non-GM lessees are eligible. Must have a minimum FICO® credit score of 700. The lessee is responsible for vehicle maintenance while the car is under their possession and for covering excess wear or tear. All you have to do is treat the car like a real gem and not like a party bus.
Each vehicle is given a limit of 10,000 miles per year. Lessees are charged an additional $0.25 per mile if the limit is reached and exceeded. These special lease offers cannot be combined with other offers. Visit our dealership for more information, or ask a representative online.
Car lease sales have steadily increased for the past seven years, rising especially in postrecession years. In fact, leases accounted for about a third of retail vehicle sales in 2018, according to research provided by Experion. However, this percentage is slightly less than in previous years. Still, the average monthly lease payment is approximately $100 lower than average new-vehicle loan payments, making leasing the smarter consumer option. Why wouldn’t you drive a nicer car for less?
Leasing a new vehicle has benefits such as buyer savings, flexibility, and protections. Leasing a new vehicle means your choice often comes with a warranty. Any issues that may occur and are out of your control will be covered by the manufacturer. The capitalized cost is usually negotiable—and much cheaper than the loan payment and monthly payment on a new car. The only foreseeable downsides to a lease would be charges for excessive wear and tear and the fact that buyers would have no trade-in value or account balance when preparing to get their next vehicle. However, with so many benefits, leasing a new vehicle minimizes the risk of purchasing a vehicle and disliking it later, as well as helping drivers avoid investing in a purchase that will rapidly depreciate in value within two years of ownership.