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2024 Chevy Camaro V8 Leases Are Cheaper Than The Base Model

The cost to lease a V8-powered Chevy Camaro could be cheaper than you think. As the iconic nameplate enters its final year, shoppers looking to lease their next car may find the optional V8 to essentially be a free upgrade. As a result, our analysis found that a V8 Camaro could be a better deal than the entry-level turbo.

According to a national leasing bulletin sent to dealers, the 2024 Chevy Camaro LT1 can be leased from $309 for 39 months with $5,829 due at signing. That's based on an MSRP of $41,990 and 10,000 miles per year. Its effective cost comes out to $458 per month and includes a $1,500 discount for current lessees.

At this price, the 455-horsepower Camaro LT1 could be surprisingly affordable compared to the base Camaro. At the same time, the regular Camaro 1LT is listed at $349 with $5,089 at signing, or $479 per month. Its MSRP is $34,090, making it $21 per month more expensive to lease despite being $7,900 cheaper on paper.

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The 335-horsepower Camaro Turbo is certainly no slouch, but it's a bad deal compared to the V8. That's because the Camaro V8 lease is based on a lease rate of 1.32% APR compared to 5.64% with the Turbo. The Camaro 1LT also has a higher residual value of 56% compared to 53% for the turbocharged coupe.

If you're looking to get the most for your money, the V8 makes a strong case over the turbo. At an effective cost of $458 per month, the V8 Camaro is also nearly $100 per month cheaper to lease than a 2024 Mustang. In California, the EcoBoost coupe is listed at $449 for 36 months with $3,749 at signing, or $553 a month.

Having said all of that, Chevy leases typically include a discount that you can only get if you're an existing GM lessee or that of a competing brand. That continues to be the case here, which means you could end up paying $1,500 more if you aren't coming from an existing lease. Current offers are set to end on January 31st.

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      Alex has been writing about car buying and leasing for over a decade. Originally from San Francisco, Alex has a degree in History from the University of California, Santa Barbara, and has been a lifelong lover of cars. Alex’s work has been featured in publications such as Forbes, The Wall Street Journal, Motor Trend, and more.

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