Chevy Lease Deals – Buford, GA

Buying a Car vs. Leasing a Car

Before you start looking for any Chevy lease deals, it is important that you understand what a lease is and how it works, particularly if you have never leased a vehicle before. When you buy a car, you pay for the vehicle and you become the owner of that vehicle. A lot of people use a lender to get financing for a vehicle – during this time, the lender owns the vehicle and the buyer makes payments to pay off the loan. At the end of the term, once the loan is paid off, then the borrower becomes the full owner of the vehicle.

With a lease, the customer never actually becomes the owner of the vehicle. Instead, during the period of the lease – usually two or three years – you drive the vehicle and make payments to a dealership that is the owner of it. You do not actually pay for the vehicle; instead, you are paying the depreciation on the vehicle and at the end of the lease, you return it to the dealership.

Important Terms and Conditions

As you look at Chevy lease deals, you are going to see a lot of language and terms that are used specifically in leases and not when buying a new or used vehicle. Knowing exactly what all these terms mean is very important and can make a big difference in what you end up paying. The following are some of the most important terms that you should learn before shopping for Chevy lease deals:

• Capitalized Cost – Sometimes shortened to “cap cost,” this is the price of the vehicle right now when it is brand new. It is typically the same price someone would pay if buying it instead of leasing it.
• Residual Value – This indicates what the vehicle is expected to be worth at the end of the lease term. It is usually indicated as a percentage, typically between 45 and 60 percent. The higher the residual value, the less you pay on a lease over time.
• Lease Term – This is the length of time you pay for the lease, usually either two or three years. At the end of the lease term, you return the car to the dealership, or you may have the option to buy the car.
• Money Factor – When looking at a lease, the money factor indicates how much interest you pay on the lease itself. It is not expressed as a percentage, however, and has to be multiplied by 2,400 to turn it into an actual interest rate.
• Due at Signing – This is a payment that has to be made at the beginning of a lease term, not including taxes or other fees. Sometimes it will include the first month’s payment, and is often called a “down payment.”
• Mileage Cap – Car leases have strict limits on how many miles you can put on the vehicle over the course of the lease. If you go past this cap, you will have to pay an additional amount based on the mileage.

Now, you might be wondering how this all comes together and what it means in terms of different Chevy lease deals you find. The simple version of it is this:

Consider a car you want to lease that costs $30,000 – that $30,000 is the capitalized cost. The dealer tells you that the vehicle has a deal with a lease term of three years and a residual value of 60%. That means that after three years, the car is expected to be worth $18,000 – 60% of the original price. So what you are actually paying for with the lease is that $12,000 of depreciation over those three years.

To keep this simple, we will forget about interest, just remember there will be some on an actual lease. In this example, the Chevy lease deal also indicates $2,000 is due at signing. So when you accept the lease, you make a down payment of $2,000, which includes the first month’s payment, then you owe $10,000 over 35 months – resulting in a monthly payment of about $286, plus interest. That is significantly less than what you would pay every month on a loan from a bank or similar lender for the $30,000 price if you wanted to buy the vehicle instead of lease it.

Things to Consider and Ask About

One thing that you should definitely think about when looking at Chevy lease deals is “gap insurance.” If you lease a vehicle and something happens to it like you get into a serious collision, then the insurance company will pay what they determine is the market value of the vehicle. If that is less than the residual value you still owe, then you have to pay that difference. With gap insurance, however, if something happens like that, then you are insured against that difference and owe nothing.

You should also think very carefully about the mileage cap on any Chevy lease deals you are interested in. Be realistic about how much you drive your vehicle every day and consider any travel plans or vacations you want to take over the next few years while you have the vehicle. Going over the mileage cap on a lease can be very expensive, even if you are only charged a reasonable fee per mile. If you are not aware of the cap and go well past it, you can end up owing a lot more at the end of the lease than you realized.

If you think you might be interested in buying the car at the end of the lease, then ask about the buyout price and what it will be throughout the lease. This is the amount you have to pay in order to purchase the vehicle and end the lease. You might not be too worried about it initially, but if you fall in love with your car, then a buyout could become a very real option for you.

Your Top 2022 Chevy Lease Options

Chevy’s 2022 lineup is truly exciting, whether you’re shopping for capable workhorses like the Colorado and the Silverado or spacious SUVs like the Blazer, Trailblazer, and Equinox. But which model will suit you best when you go looking for Chevy lease deals? It all depends on what you want and need in your next vehicle. However, here are some options to get you started.

2022 Chevy Trucks

For those looking for a reliable workhorse that’s efficient and easy to maneuver, look no further than the 2022 Colorado. The Colorado is available in the Work Truck, LT, Z71, and ZR2 trims, all of which come standard with a rear vision camera, locking tailgate, and the Chevy infotainment system. For 2022, Chevy extends the Colorado’s capability by adding the Trail Boss package to the LT and Z71 models. This package outfits the Colorado with a one-inch suspension lift, skid plates, and ZR2 wheels that are ideal for off-roading. Other available add-ons include a trailering package, trailering technology, enhanced safety features, and added luxuries like heated front seats.

The biggest beast in the Chevy truck fleet is the Silverado, and the 2022 model certainly delivers. Now ready for the trail with the ZR2 trim, the Silverado is heavily updated for 2022 and features a premium interior with a collection of new technologies that extend from Chevy’s exclusive Super Cruise technology to the standard Chevy Safety Assist suite of active safety and driver-assist tools. The Silverado’s powertrain lineup is also more powerful than ever, delivering more torque and a higher towing capacity.

2022 Chevy SUVs

Shifting gears from workhorses to spacious SUVs is easy in the Chevy lineup thanks to a stunning variety of options that range from the popular Equinox and Trax to the Trailblazer, Blazer, and Traverse. The 2022 Blazer is especially attractive with the two-tone roof option that gives it a distinct aesthetic on the LT and RS trims. You can also outfit the Blazer with a trailering package that maximizes its practicality and gives you the confidence to haul the entire family and a small camper or boat to the lake for the weekend.

Like the Blazer, the 2022 Traverse has a lot to offer drivers with its updated design that gives it a rugged stance on the road courtesy of new LED headlamps and a redesigned front grille. Along with the addition of exterior colors like Northsky Blue Metallic, Silver Sage Metallic, and Cherry Red Tintcoat, the Redline Edition, Midnight Edition, and Sport Edition add unique design details to the Traverse LT and set the SUV apart from the others in the lineup. Beyond design, the 2022 Traverse now comes standard with the Chevy Safety Assist suite of safety and driver-assist tools in addition to a variety of connectivity tools designed to keep you and your passengers connected, informed, and entertained wherever the road leads.

The 2022 Trailblazer is another great lease option in Chevy’s SUV fleet. The Trailblazer’s return to the Chevy lineup is widely praised, and that’s because Chevy is pouring every ounce of innovation into this subcompact SUV. We see this in the 2022 model’s new available trailering package that extends the SUV’s capability. The Trailblazer also offers luxuries like heated seats, intuitive connectivity features and smartphone integration, and a spacious cabin that’s ideal for comfortably hauling passengers and all your gear - all at an incredibly affordable price.

Who We Are

When you’re looking to lease the latest Chevrolet, we know that you have many dealerships to choose from in the area, but we hope that you’ll choose the team here at Rick Hendrick Chevrolet Buford. Why? Because we’re not like most dealerships. Chevrolet hit the scene in the early 1900s when racecar driver Louis Chevrolet and General Motors founder William C. Durant set out to give Americans something different - vehicles that offer unprecedented performance and affordability. The Hendrick team is proud to carry on that legacy and offer our customers a unique and rewarding experience that you won’t find anywhere else.

Think about your last vehicle and your purchasing or leasing experience. Were you inundated by salespeople the moment you drove onto the dealership lot? Did they convince you to spend more than you planned, or did you spend hours haggling over prices only to leave unsatisfied, frustrated, and empty-handed? This is the experience that many of our first-time customers expect, and it’s one we’re happy not to offer you.

The Hendrick team isn’t focused on sales quotas or commissions; we’re not here with sales tricks or gimmicks. Our focus is entirely on you and what you want and need in a vehicle. We’re here to build a relationship with you so that we can better understand your financial goals and your driving needs, both of which enable us to show you the best lease options available. We won’t try to upsell you a top-tier model if that’s not what you need. We’re respectful of your budget because, like you, we know what it means to work hard for your paycheck.

The Hendrick Advantage

You’ve likely heard the saying, “You can talk the talk, but can you walk the walk?” In other words, do we live up to our promise to deliver a unique customer experience that puts the excitement back into the car-buying or leasing process? We like to think so.

To hold our team accountable, we’ve built our business around the Hendrick Advantage. This philosophy outlines our mission to provide an exceptional customer experience through teamwork, trust, respect, accountability, honesty, and transparency. We share your passion for the Chevy brand, and we’re here to bring excitement back into the car-leasing process. That’s the Hendrick Advantage - a team that is excited to help you find the Chevy of your dreams.

Shop From Home or Work

We’re constantly working to improve our process and extend our services to our customers. To do this, we look for ways to come to you and make shopping for a new lease easier and more convenient. We know that your time is valuable, which is why we put our entire inventory at your fingertips via our virtual showroom. You can browse our inventory from the comfort of your home or during your lunch break at the office.

Along with bringing our inventory to you, we’ve also extended our suite of online services on our website. You can use our Value Your Trade tool to have your current vehicle appraised, which is a huge time-saver! You can also apply for financing and learn more about your options, take advantage of exclusive online offers, or schedule a test drive where our team will bring your potential Chevy lease to the destination of your choice. If you don’t have time for a real test drive, you can schedule a virtual test drive where our team will walk around the vehicle and show you everything it has to offer. This means you can shop for, test drive, and finalize your lease without ever visiting the dealership.

Our Service Department

Another great reason to choose Rick Hendrick Chevrolet of Buford is our state-of-the-art service department. Leasing a vehicle offers many benefits, especially when it comes to warranty coverage and routine maintenance. Leased vehicles are covered by manufacturer’s warranties, which means expensive components like the engine and transmission are covered, and that leaves more money in your wallet. Our service department can help you navigate all your leased vehicle’s maintenance and repair needs, whether your Chevy needs a routine oil and filter change, tire rotation, or more complex repair.

Finding the Best Chevy Lease Deals