The 2024 Chevy Silverado EV lease worth prices as a lot as two Rivian vehicles [update]

The 2024 Chevy Silverado EV lease worth is so costly that it prices about as a lot as leasing two Rivian R1T Journey vehicles.

July 24 replace: In simply three weeks, Chevy has decreased the lease worth of its Silverado EV – the quantity due at signing has been decreased. It was beforehand $5,679 due, however now it’s $4,099 due at signing –  a worth lower of $1,580.

Meaning the Silverado EV’s efficient month-to-month value is now $1,554 monthly – $41 monthly lower than earlier than. So to match, that places it at $24 much less monthly than two Rivian R1T Journey vehicles. (The Silverado can be $555 monthly costlier than a HUMMER EV.)

CarsDirect reviews that, as per the seller leasing information, the explanation for the inconsequential worth lower is that the Silverado’s residual worth elevated by 6% to 61%. However GM Monetary raised the lease price from 7.22% to eight.54%. There are nonetheless no lease incentives or loyalty reductions.

Should you’re considering of leasing an electrical truck, there are significantly better offers available than the Silverado EV – particularly in order for you two of them.

July 3: The parents at CarsDirect report {that a} Chevy bulletin despatched to sellers lists the Silverado EV at $1,449 for 39 months, with $5,679 due at signing. That’s for the RST trim primarily based on an MSRP of $96,495 with vacation spot and 10,000 miles a 12 months. That makes the efficient value of the lease an eye-watering $1,595 monthly… and that’s earlier than taxes & charges.

Let’s examine that to the price of leasing two Rivian vehicles: The 2024 Rivian R1T Journey leases for $581 for 36 months with $7,471 at signing, or $789 monthly. That’s for the Twin Motor Massive Battery Pack with an MSRP of $75,000. So if you happen to leased two R1T Adventures, you’d spend $17 much less a month than for a 2024 Silverado RST EV.

To essentially drive the purpose dwelling, two R1T Adventures have an MSRP of $150,000. The Silverado MSRP is slightly below $97,000. But the latter prices extra to lease.

The Silverado EV is a horrible deal for 3 causes. First, it has no lease reductions. Second, the 39-month lease deal is predicated on a price equal to 7.2%. And third, the underlying residual worth is 55%, and CarsDirect reviews that Chevy isn’t passing a industrial tax credit score alongside to its prospects.

As for a 24-month lease for the Silverado RST, that’s $15,569(!) down at signing, and the month-to-month cost can be over $2,000 a month. That’s a bit.. a lot.

Learn extra: Chevy Silverado EV RST first drive: Unimaginable vary and energy, however is it definitely worth the hefty worth? [Video]

Click on right here to discover a native seller which will have the Rivian R1T in inventory.–affiliate hyperlink

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