The Chevrolet Equinox EV Is Cheaper Than Ever To Lease. It’s Still A Bad Deal
You can blame its bigger brother, the Chevy Blazer EV, for that.
Jun 17, 2024 at 11:00am ET
The 2024 Chevrolet Equinox EV has a lot riding on its shoulders, seeing how it’s General Motors’ most affordable new electric vehicle after the demise of the Chevy Bolt EV last year.
With up to 319 miles of range on a full charge and a starting price of $35,995 without the $7,500 tax credit factored in, Chevy says the new Equinox EV is “America’s most affordable 315+ mile range EV.” That said, don’t expect to get a good lease deal on it, which is a shame because the car itself is better than expected, as we found out during our first drive review.
Read the small print
Leasing a car can sometimes be a daunting task. There are lots of acronyms and abbreviations thrown into the dealer’s pitch, so you need to pay extra attention when new “attractive” deals come into play, like Chevrolet’s latest Equinox EV lease deal, which is admittedly much better than before but still more expensive per month than the larger Blazer EV.
The automaker’s latest lease offer can get you a 2024 Equinox EV LT front-wheel drive for $379 per month with a $3,189 down payment for a three-year term, as first seen by Cars Direct. That comes out to an effective monthly fee of $467.5, much better than the previous offer of $644 per month for 39 months for the better-equipped RS trim (that price has since been slashed, too.)
However, the entry-level electric crossover doesn’t seem like a great deal compared to the larger Chevrolet Blazer EV. According to Chevrolet‘s website, you could get a 2024 Blazer EV LT all-wheel drive for $369 per month with a $1,679 down payment for 24 months. That results in an effective monthly fee of $438.90, which is $28.60 less than the Equinox EV, albeit for a shorter period, but you get a bigger car with twice the electric motors.
You should also recall that some dealers already charge as much as a $5,000 markup for Chevy’s new affordable EV, so look for the dreaded “market adjustment” line on the window sticker.
Gallery: 2024 Chevrolet Equinox EV
33 Photos
The only way the Equinox EV can undercut its bigger brother on lease prices is if customers can gain access to a somewhat elusive $3,000 bonus, which is only available to Chevy Bolt EV lessees who want to switch things up. That said, the offers mentioned above–both for the Equinox EV and Blazer EV–are only valid for qualified lessees, either coming from a GM product or not. So, if you don’t already have a lease agreement, the prices you see here might be higher.
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