- Both the 2024 Chevrolet Equinox EV and 2024 Chevrolet Blazer EV benefit from a Clean Vehicle Federal Tax Credit, reducing lease payments by $7,500 or more when leased through GM Financial.
- The 2024 Chevrolet Blazer EV LT AWD leases for $288.93/month for 24 months, while the 2024 Equinox EV 2LT FWD leases for $404.52/month for 27 months, both with a $2,500 down payment and 12,000 miles per year.
- The warranty includes 3 years/36,000 miles for basic and corrosion, 6 years/100,000 miles for rust-through, and 8 years/100,000 miles for hybrid/electric components.
If you’ve been on the fence about diving into the electric vehicle (EV) market, now might be the perfect time to take the plunge. Thanks to a combination of federal tax credits and manufacturer incentives, leasing a new EV can significantly reduce your overall costs.
For example, certain Chevrolet leases with GM Financial are now eligible for a Clean Vehicle Federal Tax Credit, reducing total lease payments by $7,500 or more. However, these savings are applied through a manufacturer residual enhancement and not as an individual tax credit, so it’s crucial to understand how these incentives work and whether they suit your financial situation.
ADVERTISEMENT
Making Sense of the Incentives
Let’s break down how these savings work. When you lease a vehicle like the 2024 Chevrolet Equinox EV 2LT FWD, you’re not just benefiting from the inherent efficiency and lower maintenance costs of electric driving. The federal tax credit under Section 30D of the Inflation Reduction Act (IRA) allows for significant savings applied directly to your lease.
This means more money in your pocket each month, freeing up your budget for other expenses or savings. According to GM, “the manufacturer residual enhancement amount is based on vehicle MSRP and is subject to change.”
With an MSRP of $41,900, the Equinox EV offers a stylish, modern driving experience without breaking the bank. For a lease of 27 months at $404.52 per month, including taxes, with a $2,500 down payment, and 12,000 miles per year, this is an incredibly attractive deal. The same goes for the 2024 Blazer EV LT AWD, which comes in at $288.93 per month with similar terms.
The Perks of Going Electric
Beyond the financial incentives, EVs come loaded with features that make driving both a joy and a breeze. The 2024 Equinox EV, for instance, includes a Dual Level Charge Cord, which allows you to switch between 120-volt (Level 1) and 240-volt (Level 2) charging. This means you can charge your vehicle at home without needing a specialized charging station.
The fully independent Ride and Handling suspension ensures a smooth and responsive ride, while the Electronic Precision Shift frees up space in the center console for additional storage—perfect for those family road trips or daily commutes. Plus, advanced safety features like Adaptive Cruise Control and Enhanced Automatic Emergency Braking provide peace of mind, knowing that the vehicle can help you avoid or reduce the severity of collisions.
ADVERTISEMENT
A Touch of Luxury
Who says going green means sacrificing comfort? The Equinox EV’s interior is designed for convenience and style. With Sky Cool Gray Evotex seat trim and a 17.7″ diagonal advanced color LCD display with Google built-in compatibility, this car offers a premium feel. Entertainment options like Bluetooth® and SiriusXM® with a 3-month trial subscription ensure you’re always connected and entertained on the go.
Safety and Peace of Mind
Features like Rear Park Assist and Enhanced Automatic Emergency Braking help keep you and your loved ones safe. The vehicle’s advanced radar and camera technology assist in hard emergency braking, which can be a lifesaver in unexpected situations.
Additionally, the electric cars come with comprehensive warranty coverage, including 3 years/36,000 miles for corrosion and basic warranties, 6 years/100,000 miles for rust-through, and 8 years/100,000 miles for hybrid/electric components. This extensive coverage ensures that you’re protected long after you drive off the lot.
Why Now is the Time
The combination of financial incentives, advanced features, and safety innovations make leasing an EV an incredibly smart decision right now. If you’re looking to reduce your carbon footprint or someone looking to save on transportation costs, there’s never been a better time to consider an EV.
Remember, these offers are available only until September 3, 2024.
ADVERTISEMENT
IMAGES: CHEVROLET
FTC: We use income-earning auto affiliate links. Learn more.
One Response
Evidently the dealerships im Michigan haven’t read your article. Unlike Ford they will not apply the 7500 to a lease credit. They will provide a paper for IRS on your taxes. So looking like I’m off to Ford.