So You Want to Lease a new Chevrolet vehicle …

Lease a new Chevrolet vehicle near Dubuque

There are so many questions to consider when you’re shopping for a newer vehicle: Should you get a car, SUV, minivan or truck?  Gas, diesel or electric?  How much should you spend?  Cloth or Leather? What color do you want?  What trim level will give you the best value for the dollars you’re spending?  Should you buy something with a full warranty?   What level of fuel efficiency are you looking for in your next vehicle? Front-wheel drive, four-wheel drive, or all-wheel drive?  How much of a monthly payment can you afford?

One of the questions you might come across while vehicle shopping is whether you should lease or buy.

Leasing offers Dubuque area residents lower monthly payments with the choice to turn a vehicle back in at the end of the lease, or to buy it out. This means you are driving a new car under warranty for the majority of your lease.

“It has gotten more popular to lease a new Chevrolet vehicle in the Dubuque area in recent years,” says the sales manager at Runde Chevrolet in East Dubuque, IL. “When you lease a new Chevrolet vehicle, you have options at the end – you can buy the vehicle out, jump into another lease, or just walk away. People like to have those options and the lower monthly payments.”

Consider how many miles you typically drive each year. Leases come with a mileage cap, so they are best for people who don’t drive too many miles. The lower the mileage cap is, the lower your monthly payments will be.

Most leases are for 24, 36, or 39 months with mileage limits of 10,000, 12,000, and 15,000 miles.

“When you lease a new Chevrolet vehicle, you don’t have to worry about negative equity,” John says. “If you finance a vehicle and want to trade it in in three years and have a five-year loan, you may owe more than it’s worth. You don’t worry about that with leasing.”

Also consider how long you typically keep your vehicle. If you normally keep your vehicle more than three or four years, you may be more of a buyer. Plus, if you like to personalize your vehicle, a lot of people think that investment on personalized accessories will be lost on a leased vehicle. 

But also keep in mind that if you add genuine Chevrolet Accessories to your vehicle at the time of the lease paperwork signing, the Chevy accessories can be residualized with the lease.  This means that if a set of Chevrolet running boards for a new Chevy Silverado truck costs $725 (estimate only) and the final residual value of the Silverado is estimated at 60% of MSRP at the end of the lease, then in this example a customer would only pay $435 over the duration of the lease for the OEM running boards.

“A lot of Chevy enthusiasts in the Dubuque area simply prefer to own their vehicles,” John says. “It’s very much personal preference. Plus, it is a little easier to trade if you are in a good equity standpoint.”

Still not sure? Take our quiz!

Leasing? Check out our example lease prices.

Buying? Try out our payment calculator, or fill out an online trade evaluation or a finance application.