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Chevrolet Silverado continues to push industry standards higher, and there has never been a better opportunity to lease a new Silverado. Leasing a new truck has many advantages, and Jack Burford Chevrolet has some unbeatable deals to get you driving your dream Chevrolet Silverado 1500. To help you navigate the leasing process, we asked our finance managers to review leasing versus buying and highlight some of our best Chevrolet Silverado lease deals.
Get ready to hit the road in a Chevrolet Silverado 1500 by learning everything you need to know about leasing this powerful truck.
Every lease has different parameters. For example, you can typically secure a Chevrolet Silverado lease for two or three years. The longer term you choose results in a lower monthly payment.
Some lease deals require a down payment that varies depending on the vehicle trim and its equipment. Much of your down payment hinges on the vehicle’s manufacturer’s suggested retail price (MSRP). Higher trim levels with more standard equipment have a higher MSRP, which can result in a larger down payment, but not always. Vehicle inventory often drives dealers to incentivize buyers with attractive lease deals with low or zero down payments.
Your credit score also impacts your lease deal. Buyers with excellent credit will qualify for leases for more expensive vehicles because they can afford a higher monthly payment.
Your lease includes a maximum number of allowable driven miles, typically around 12,000. This number can vary, and you can negotiate it before signing. However, choosing higher allowable miles will increase your monthly payment.
We always recommend thoroughly reviewing how many miles you plan to drive a leased vehicle before signing. If you go over your allotted miles, your lease includes a charge per mile over. This number also varies and could be as little as 10 cents or as high as 50 or more. Fifty cents may not sound like a large amount, but driving 3,000 miles over your allotment equals $1,500, which you will owe the dealership when you turn in the vehicle.
A lease restricts you from making significant modifications to the vehicle. Your lease contract allows for minor accessory upgrades, and you can only use certified original equipment manufacturer parts. If you plan on putting a lift kit on your Chevrolet Silverado, purchasing the pickup makes more sense.
A lease requires you to turn in the vehicle in good condition at the end of the term minus normal wear and tear. Normal wear and tear can be subjective. Most dealerships will accept a few minor flaws, but anything requiring significant work to repair will cost you more. The dealer will produce an estimate for repairs and add that total to what you owe.
Many drivers prefer leasing a Chevrolet Silverado 1500 for several reasons. First, you don’t have the long-term commitment of a car loan that could stretch up to 72 months. Instead, you can turn in your leased Chevrolet Silverado in a couple of years and lease a new truck with all the latest equipment and technology. If you enjoy driving a cutting-edge pickup, leasing makes sense.
Leases have lower monthly payments because you aren’t buying the vehicle. Instead, you only pay for the vehicle’s anticipated value for the lease term. For example, suppose you lease a new Silverado with a $60,000 MSRP for two years. In that case, the dealer will estimate the vehicle’s value at the end of two years, probably around $40,000, which means the dealer bases your monthly payment on the $20,000 difference, saving you money with a lower monthly payment.
Financing a new Silverado builds equity, whereas a lease won’t. Every monthly payment you make on your car loan adds up. When you pay off your loan, you own the vehicle. You can enjoy driving without a monthly car payment or sell it and do what you wish with the money. Or you can trade in your car and use that value towards purchasing a new car.
You can modify your Silverado however you see fit because car loans don’t have the same restrictions as leases. Financing makes sense if you prefer building equity and have plans to modify your Silverado.
Chevrolet has a lease special for the Silverado 1500 Crew Cab 4WD Custom pickup with the TurboMax engine. Well-qualified buyers will pay $409/month for 36 months with $4,949 due at signing and zero security deposit. The lease includes 30,000 miles with a 25-cent per mile over.
Jack Burford Chevrolet has an expansive inventory of new Chevrolet Silverado trucks at competitive prices. If you prefer a different Silverado model, we can build a lease on your preferred pickup to fit your budget.
Silverado has a rugged, modern exterior style and an ergonomic interior fit for comfort.
Lower trims have premium cloth upholstery, while midrange models add leather-trimmed seats. Top-tier Silverado trucks have luxurious leather upholstery and heated and ventilated seats. All your in-vehicle tech runs on a 13.4-inch touch screen with Apple CarPlay and Android Auto capability. Upper trims have access to cutting-edge tech like wireless charging.
Chevrolet uses its 2.7-liter TurbMax inline four-cylinder engine and ten-speed automatic transmission as the base. This powertrain produces 310 hp and 430 lb-ft of torque. You can opt for a 5.3-liter EcoTec V-8 engine with 355 hp and 383 lb-ft of torque or the 3.0-liter Duramax turbo diesel engine with 305 hp and 495 lb-ft of torque. Drivers wanting maximum power can choose the 6.3-liter V-8 that manufactures 420 hp and 460 lb-ft of torque.
Every Silverado comes with Chevy Safety Assist, a suite of driver-assistance systems to elevate your Richmond commute and help keep you safe. These systems use advanced radar, cameras, and other sensors to scan around your Silverado and alert you to possible hazards. In some cases, they can engage emergency braking and steering to help lessen or avoid a possible collision.
If you’re ready to take the next step in your Silverado ownership journey, we invite you to browse our new Chevy vehicles for sale. Once you find a few models that interest you, visit our Richmond showroom and speak with a Silverado specialist. They’ll show you your preferred models and coordinate a test drive, which you can also schedule by contacting us online.
