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New to Leasing? MUST-READ

Welcome to Leasehackr, the online premier destination for all your leasing questions and needs. If you’re new to leasing, this article will help you understand leasing and point you in the right direction to lease a car of your very own.

What is car leasing? Similar to leasing an apartment or a piece of heavy duty equipment, leasing a car is paying for that car to be in your possession for a designated amount of time, typically 24-36 months. That payment is typically seen as monthly payments over the course of the contract, and an amount due at the signing of the contract which is usually a culmination of fees, the first monthly payment, and additional costs.

Leasehackr is a community of buyers, sellers, and browsers and our website’s forum is a great place to have any of your questions or concerns answered by fellow Leasehackrs.

If you’ve bought or financed a car before, the process of leasing a car is similar. That said, there are still some things to understand about leasing a car. Here’s a breakdown of the steps:

Step 1: Search (marketplace)

  • does not need to know the specific make and model, but a general idea of what you want (EV or not, ideal brands, maybe even idea features)

  • In the Leasehackr forum, there’s a section called Marketplace, where brokers and sellers post about the cars they want to lease. Customers can ask questions in the comments, and sellers are under obligation to be as specific as they can. It’s a great way to research on your own and decide the type of car you want.

Step 2: Basic Terminology

While you’re browsing and researching, there’s a lot of car and lease jargon that tends to only exist in the car leasing world. Here’s a quick introduction to a few words that may be confusing:

Step 3: Research Incentives that You Qualify For and Stack! (calc/ratefindr)

(intro/hook)

  • Incentives

  • Rebates

  • Gross capitalized cost

  • Buyout price

Step 4: Calculate Your Payment (calc)

Before finding and negotiating a lease of your own, we recommend you try calculating your lease payments. Using our free Calculator feature, you can get an estimate of what a good deal is. (promo ratefindr here?)

Step 5: Negotiate with a Dealer (forum,pnd, latest deals page)

The final step


(include leasing 101 full folder of articles at the bottom?)

  • Money factor:

  • Incentives:

  • Rebate:

  • MSRP:

  • Buyout price:

  • Residual value:

  • APR:

  • Gross capitalized cost:

Steps:

Step 1: Search for Inventory (marketplace)

Currently, the most affordable 2024 Chevrolet Blazer EV is the LT eAWD Launch Edition, which starts at $50,195 MSRP. If you are after the absolute best payment, then go with this trim.

There is also a more attractive RS trim with a higher MSRP and a slightly lower residual value. Both of those aspects will make the RS more expensive to lease than the LT. It’s for you to decide which trim best fits your needs!

Step 2: Choose the 24-Month Lease Term

While GM Financial offers leases as long as 48 months, we recommend the 24-month lease option, which has a super high residual value of 75% on the LT, assuming 10,000 miles per year. The residual value drops by 1% for 12,000 miles per year and another 2% for 15,000 miles per year.

Since the cost of leasing is largely determined by the amount of the depreciation incurred, the higher the residual value, the cheaper the lease.

Step 3: Research Incentives that You Qualify For and Stack! (calc/ratefindr)

Use Leasehackr’s Rate Findr to see what incentives you qualify for based on your ZIP code — and, importantly, which incentives stack! Here is a sampling of available rebates for 2024 Blazer EV:

$4,000: Select Market Conquest Offer (ZIP code dependent)

$3,250: Chevrolet Select Market Incremental Cash (ZIP code dependent)

$3,000: Current Bolt Owner/Lessee Offer

$1,000: Costco Member Offer

$1,000: GM Supplier Allowance

$1,000: Lease Conquest or Lease Loyalty Incentive

$500: Healthcare Professional, First Responder, Military, or Grad Incentive

For example, someone living in Southern California, Houston, or New York City can stack as much as $8,250 in incentives (Select Market Incremental Cash + Current Bolt Owner/Lessee Offer + Costco Member Offer + GM Supplier Allowance).

Step 4: Calculate Your Payment (calc)

Using Leasehackr Calculator, estimate the cost of leasing a 2024 Chevrolet Blazer EV based on the incentives you qualify for, the desired MSRP of your vehicle, and the discount you are targeting. We have seen anywhere from a $0 to $2,000 dealer discount.

Here is an example of a 2024 Chevrolet Blazer EV LT eAWD Launch Edition ($50,195 MSRP) lease assuming vehicle registration in Southern California, $8,250 in incentives, and a $1,000 dealer discount:

Monthly Payment: $250 (plus tax)

Down Payment: $0

Due at Signing: $2,611 (first month’s payment, license/registration, taxes on rebates, bank fee, and document fee)

Step 5: Negotiate with a Dealer (forum,pnd, latest deals page)

Contact dealers in your area to find one that will honor your target deal.

For negotiation tips and tricks, browse Leasehackr Forum and engage with our community! (For Leasehackr Pre-Negotiated Deals, click here.)


for more info, leasing 101 page



REFERENCE SECTION

Links:

  • calc/ratefinder

  • signed

  • forum

  • marketplace

  • pnd

  • leasing 101

  • articles

Thank you for reading our brief introduction! If you still want to learn more, CTA somewhere