2020, 2021 Chevrolet Lease Deals, Specials & Offers
2021 Chevrolet Leasing FAQ
Many buyers opt for lease agreements in lieu of financing for many reasons. The ability to exchange a vehicle in a shorter time makes the idea of leasing appealing to many. As with any other vehicle financing option, leasing does come with a few restrictions that must be considered. Still yet, leasing for Chevrolet models through GM Financial is the best option for a wide array of buyers.
What is GM Financial?
Many automakers offer financing options for dealerships to offer to buyers. Going directly through a specific manufacturer's financing system makes the leasing process smoother than searching for a local lender. Servicing dealers and consumers by providing competition financing and leasing options is the goal of GM Financial.
What are the options at the end of my Chevrolet lease?
Every buyer has three options at the end of their Chevrolet lease. You can end the lease and begin a new lease agreement on a new Chevrolet vehicle, you can opt to purchase your currently leased vehicle, or you can let the lease agreement end without a replacement Chevrolet vehicle.
Are there any additional fees when leasing a Chevrolet?
Essentially, when a vehicle is leased the buyer is simply paying for the depreciation of that vehicle. Additional fees like taxes, special financing charges, acquisition fees, maintenance fees, and excess mileage fees can be incurred.
What type of insurance do I need when leasing a Chevrolet?
The type of insurance required for a vehicle that is leased is no different than purchasing insurance for a vehicle that is owned. One of the few requirements of carrying insurance on a leased vehicle is mandatory physical damage coverage that would provide payment if the vehicle were involved in a collision or natural disaster.
What will be the cost of excess mileage when I return my vehicle at lease-end?
Each lease agreement is different, but the standard charge for excess mileage ranges somewhere between 15 to 20 cents per mile over the agreed upon amount. The set mileage amount can be found within your lease agreement.
What is Chevrolet’s policy on excess wear and tear? What is XS Wear?
Excess wear and tear is the term that a leasing company uses to describe damage that has occurred to a vehicle that is outside of the normal wear and tear allowance. A specific allowance for wear and tear is usually provided by a Chevrolet lease agreement.
Does Chevrolets Heroes Bonus Program apply to a lease?
Certain portions of the Chevrolet Heroes Bonus Program can apply to lease agreements. Specials for a specific amount off can be used in conjunction with leasing arrangements for qualified buyers.
Is there a College Discount that can be used when leasing?
Dealer incentives can be combined in an attempt to save more money. This includes college discounts. Known as the General Motors College Discount program, this provision allows college students to combine discount with other eligible offers to get a more desirable rate on a new Chevrolet vehicle.
How do Owner Loyalty Credits work with a Chevrolet lease?
Chevrolet customers can enroll in the Chevrolet loyalty program to start earning points at any time. 1,000 points are granted simply for signing up! Upon entering into a new Chevrolet lease agreement, 20,000 points are awarded. Buyers can also gain points by having their Chevrolet serviced at a dealership, purchasing parts and accessories at a dealer location, and more.
Can my lease be extended?
Without signing a new lease agreement, a Chevrolet lease can only be extended by a period of one month. This extension will allow you the additional time needed for certain situations prior to returning a lease vehicle.
Does Chevrolet offer a grace period if I cannot make my payment?
Grace periods are not typically offered on Chevrolet lease agreements. Due to the nature of this financing, a grace period cannot be offered. Payments that are not made on time will continue to accrue late fees and interest charges.
How does the lease-end inspection work?To ensure the quality of the vehicle that is being surrendered, Chevrolet requires a vehicle inspection 60 to 90 days prior to the end of the lease. This process allows the leaseholder to identify any damage to the vehicle that a lessee may be penalized for at the end of the lease.