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

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.

(11/13/17: Have issues with the calculator loading? Refresh the page. We are working on a fix.)

MSRP:

Sales Price:

% off MSRP

Taxed Incentives:

e.g., cash-back offers, loyalty cash, bonus cash.

Untaxed Incentives:

e.g., manufacturer-to-dealer cash rebate or if you live in a state where customer cash rebates are not taxed.

Down Payment:

Acquisition Fee:

I want to pay my acquisition fee upfront.

Net Capitalized Cost:

Residual: %

( miles/yr)

Months:

Miles/yr:

Adjusting the miles changes the residual(%).

Money Factor:

APR: %

I want to pay my total lease payment upfront to lower the MF by 0.00073.

Money Factor with One-Pay Lease Discount:

Monthly Payment (Excl. Tax):

Document Fee:

License/Registrat. Fee:

Sales Tax: %

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).

Monthly Payment (incl. tax):

Drive Off:

First month's Payment incl. tax:
Down payment:
Registration and doc fee:
Total MSD Payment:
Tax on cap cost reduction and fees:

First Month's Payment:
Down payment:
Registration and doc fee:
Total MSD Payment:
Tax on the Sales Price:

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:

Leasehackr Score:

The number of years it would take for the accumulated monthly payments to exceed the MSRP. Higher is better.

Disposition Fee:

Total Lease Cost:

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.