2024 Chevy Equinox EV Lease Price $100/mo More Than Blazer EV

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Senior Pricing Analyst

As CarsDirect’s resident pricing expert, Alex offers must-know analyses of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured by The Wall Street Journal, Fox Business, Motor Trend, Automobile Magazine, and more.

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, Senior Pricing Analyst - April 2, 2024
2024 Chevy Equinox EV electric SUV red color white roof

Chevy's first lease special on the 100%-electric Equinox could cost you a lot more money than the electric Blazer. Based on bulletins sent to dealers, 2024 Chevy Equinox EV lease prices are over $100 per month more expensive than the Blazer EV. Here's what to know if you're comparing prices for both of these EVs.

To start, the 2024 Chevy Equinox EV is listed at $569 for 39 months with $2,919 at signing for the front-wheel-drive RS trim. The Blazer EV is listed at $469 with $2,819 at signing for the LT model. When you compare the effective monthly costs of these offers, it comes out to $644 for the Equinox and $541 for the Blazer.

That may surprise some shoppers since the 2024 Blazer EV is bigger and has a higher MSRP ($50,195 vs. $47,495, a difference of $2,700). Interestingly, you could lease an all-wheel-drive Blazer RS and still potentially spend less money overall. It's listed at $549 per month with $2,869 due at signing, or $623 a month.

2024 Chevy Equinox EV grey interior color

So why are Equinox EVs so expensive? A dealer leasing guide says Chevy's first lease deal is based on a residual value of 53%. The residual is actually even worse than that at 50%, but it benefits from a boost because of the offer's 10,000-mile-per-year allowance. The money factor is also equivalent to 7.39% APR.

Unfortunately, the Equinox EV has no lease cash to help bring down the price for everyone. Like most Chevy leases, the lease price includes a discount that you can only get for coming from another GM lease or that of a competing brand. If you don't qualify for the savings, expect the amount at signing to go up by $500.

In contrast, the Blazer EV lease for the LT is based on a 52% residual value and a $1,000 loyalty or conquest cash incentive. The biggest difference we found is a significantly better interest rate of just 3.24%. That's over half the rate of the Equinox EV. Apparently it's enough to make the Blazer a considerably better deal.

If you're willing to wait, Chevy will introduce a more affordable Equinox EV in late 2024 called the LT. It has a price of just $34,995 and has the same 319-mile range as other styles. Chevy Bolt owners & lessees should also be aware that GM is offering a $3,000 loyalty discount on the Equinox that you can't get on the Blazer.

Explore Chevy Equinox EV Prices & Deals

, Senior Pricing Analyst

As CarsDirect’s resident pricing expert, Alex offers must-know analyses of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured by The Wall Street Journal, Fox Business, Motor Trend, Automobile Magazine, and more.

Follow On: Twitter

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