Chevy’s new all-electric Equinox is already on sale. With new incentives, the 2024 Chevy Equinox EV is now cheaper to lease than the gas-powered model despite its MSRP being nearly $12,500 more expensive.
Chevy Equinox EV lease prices just got cheaper
The Equinox EV is “the most affordable” EV in its class with over 315 miles range, according to Chevrolet.
As of right now, Chevy’s cheapest Equinox EV (2LT) starts at $43,295 with up to 319 miles range. With the tax credit, starting prices drop to as low as $35,795.
However, a cheaper 1LT model will be available later this year, starting at $34,995. With the credit, it will be available for as little as $27,500. After Equinox EV deliveries began in May, GM confirmed the lower-priced trim was on its way.
Ahead of its arrival, GM made the current model even more attractive. With new incentives introduced Wednesday, the Chevy Equinox EV is now cheaper to lease than the gas-powered model.
According to online car research firm CarsDirect, the Equinox EV (2LT) can be leased for as little as $239 for 24 months. With $3,029 due at signing, the effective cost is $365 per month for the electric version. The deal is based on 10,000 miles a year and an MSRP of $43,295.
The Equinox EV lease includes a new $1,500 conquest cash incentive for any non-GM driver. When combined with its existing lease conquest, it amounts to $2,500 in savings.
Its gas-powered counterpart is listed at $299 for 24 months. With $2,299 due at signing, the effective rate amounts to $395 per month. This includes a $1,000 lessee discount for non-GM owners.
2024 Chevy Equinox EV trim | Starting Price |
| 1LT FWD (*will be available in late 2024) | $34,995 |
| 2LT FWD | $43,295 |
| 2RS FWD | $44,795 |
| 3LT FWD | $45,295 |
| 3RS FWD | $46,795 |
With that, the EV version is $30 cheaper to lease per month even though its MSRP is nearly $12,500 more expensive.
The Equinox EV has a much higher residual value. It has a 24-month residual of 80%, while the gas model is at 67%. The EV’s residual value is due to the included $7,500 EV tax credit.
Ready to take advantage of Chevy’s new Equinox EV deals? We can help you get started. You can use our link to find deals on the 2024 Chevy Equinox EV in your area.
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