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Everything You Need To Know About Leasing A Silverado (Crew Cab From $317/Month, $0 Down)

Program valid through February 29, 2016.

So if F-150 isn't a spectacular lease right now, what about Chevrolet's Silverado 1500?

The Lease Program

The cost of leasing a particular car is determined by its lease program, which is set by the manufacturer, and the selling price, which is set by the dealer. Here is GM Financial's lease program for February 2016:

Residual Values (10,000 mi/year)
Trim 24 months* 27 months* 36 months** 39 months**
2016 Silverado 1500 2WD 68% 65% 60% 59%
2016 Silverado 1500 4WD 70% 67% 62% 61%

*Subtract 1% from residual for 12,000 mi/year. Subtract 2% from residual for 15,000 mi/year.

**Subtract 1% from residual for 12,000 mi/year. Subtract 3% from residual for 15,000 mi/year.

Figures shown are for Crew Cab and Double Cab. Subtract 1% from residual for Regular Cab.

GM Financial Lease Rates (Tier A+ and A1)
Term Money Factor Interest Rate
24 and 27 months .00130 3.12% APR
36 and 39 months .00075 1.80% APR

Selling Price

A 2016 Chevrolet Silverado 1LT Crew Cab 2WD has an MSRP of $40,580. According to a third-party car shopping website, the average selling price of that model is $38,491 before incentives (Southern California zip code). The lowest selling price currently offered by a dealer on said car shopping site is $35,985 before incentives.

Incentives

Incentives on Silverado can be a bit tricky, as some apply only to cash purchases while others apply to both purchases and leases. 

Incentives That Can Be Applied Toward Leases
Incentive Availability Amount
GM Financial Lease Cash All $500
Volt Loyalty Targeted $2,500
GM Private Offer Targeted $1,500
GM Competitive Lessee Conquest Targeted $500
GM Lease Loyalty Targeted $500

All lessees get the $500 Lease Cash. Current Volt owners or lessees qualify for a $2,500 incentive, while current GM or non-GM lessees qualify for a $500 incentive. Some have reported getting a $1,500 Private Offer certificate by browsing Chevrolet.com; the offer pops-up after a few minutes of browsing. Targeted incentives cannot be stacked. 

Putting It Together ($317/Month, $0 Down)

Use the lease calculator below to customize your own inputs. Here's a sample deal of a 2016 Silverado 1500 1LT Crew Cab 2WD assuming a selling price of $35,985, excellent credit, 10,000 miles per year, California residency, and $1,500 Private Offer.

Select to auto-populate the acquisition fee, disposition fee, and MSD fields.
% off MSRP
e.g., cash-back offers, loyalty cash, bonus cash.
e.g., manufacturer-to-dealer cash rebate or if you live in a state where customer cash rebates are not taxed.
I want to pay my acquisition fee upfront.
%
( miles/yr)
Adjusting the miles changes the residual(%).
APR: %
Enroll in Mercedes-Benz Autopay to lower the MF by 0.00010
I want to pay my total lease payment upfront to lower the MF by 0.00073.
APR: %
%
Tax your state, county, and city levy.
Tax is levied on the monthly lease payment (most states).
Tax is levied on the sales price upfront (e.g. VA, TX, GA).
Tax is levied on the total lease payment upfront (e.g. NY, MN, OH).
First month's Payment incl. tax:
Down payment:
Registration and doc fee:
Total MSD Payment:
Tax on cap cost reduction and fees:
Acquisition Fee:
First Month's Payment:
Down payment:
Registration and doc fee:
Total MSD Payment:
Tax on the Sales Price:
Acquisition Fee:
First Month's Payment:
Down payment:
Registration and doc fee:
Total MSD Payment:
Tax on the total lease payment:
Tax on cap cost reduction and fees:
Acquisition Fee:
The number of years it would take for the accumulated monthly payments to exceed the MSRP. Higher is better.
The total cost of leasing over the lease term, including applicable taxes and disposition fee but excluding registration/license fee and the refundable MSD payment.

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