Super happy with this deal. Was looking at all kinds of EVs and PHEVs, but this ended up being the best deal. I know this won’t be fully replicable due to the Employee discount, but supplier along with conquest could get very close.
Net One-Pay Lease: $ 2250.00 (excluding TTL, $1409)
Note that the dealer structured the additional incentives as a post-sale rebate, since I was already at a nearly zero depreciation charge (which if it were negative, the deal won’t fund). So, they charged my credit card the net amount ($2250), but the paperwork had to reflect that I was paying the $4381.
These are with incentives through 8/4. I called several dealers in my area, and very few would play ball - not sure why, since I wasn’t asking for a huge MSRP discount. But if you can find an LT2 with PDE model, those have the richest rebates and RVs right now.
Excellent work and enjoy your ride. Could you pls clarify what is post-sale rebate and how to get it. I would like to replicate the deal though I don’t qualify for emplyoee discount (only supplier discount) and also don’t have any lease to qualify for conquest rebate. Also, how do you search for vehicle with PDE on Chevy website. Thanks.
Just added more details above on the rebates. That should help answer the question.
As far as looking for ones with the LT2 w/PDE, it’s hard to look for directly, but if you look for Equinox EV with LT, and then keep scrolling in your area until you get to the ones with the “Courtesy Transportation Vehicle” tag on them (can’t search for that, either), and then look for ones that have an MSRP around $45-48K. Then click in and look at the window sticker. It’s a tedious process, but if you can find the combination of that specific model that is also a CTP, then that’s the unicorn you want.
Like others I’m also trying to understand the post-sale rebate (for the next hack).
I had a deal worked out on a one pay (Honda Prologue - Chevy Blazer rebadge) lease and the dealer honored it. But at the last minute I remembered that I could add a new grad rebate (since we have an eligible new grad in the household) that would have knocked another $500 off the one pay. I’m pretty sure there was room in there (and since this is from the mfr. I don’t know why the dealer did not want to do it). But the explanation given was “you are already so much off that the system won’t allow an additional rebate as it will go negative.”
I didn’t push it as I was feeling quite happy with this deal the first price the dealer quoted was better than the competition. I had done a little bit shopping on the Prologue and also had an alternative in place (a Mercedes Benz GLC 350e - I know apples and oranges - but not worth eff. $200+ more per month with 2.5K fewer annual mileage.
They can always raise the adjusted cap cost so the contract is compliant and then refund you the difference as a check or instant credit against the amount due. It’s completely allowed but like some dealers won’t do MSDs, some may not be willing to do refunds.
For what is PDE, this from Google AI:
The abbreviation “PDE” in the context of the Chevrolet Equinox typically refers to the Convenience Package with Driver and Front Passenger Heated Seats, often denoted as (PDE), available with the LT2 trim. This package is part of the broader “Convenience Package” options for the 2025 Equinox EV.
PDE is not a standard feature: It’s an optional upgrade within the Equinox EV’s trim levels, particularly the LT2.
PDE includes heated seats: Specifically, it includes heated driver and front passenger cushions and seatbacks.
PDE is part of a larger package: It’s often found within the larger “Convenience Package” or “Convenience Package II” options.
PDE availability: The specific availability of PDE may vary by dealership and region.
Other features in the Convenience Package: Besides heated seats, the Convenience Package (and potentially PDE) may also include features like power driver seat adjustments, a wrapped steering wheel,
That’s awesome job. I have a question if you purchase or finance 2025 Equinox EV, there is $7500 EV credit if eligible. But if you lease it’s removed. Why is that? From what I have seen many of other EV car manufactures offer a huge EV rebate for leases.
Yes, but the higher residual values still make them lease more affordably. Also the buyer doesn’t have to worry about income qualifications for the credit.
I got a very good lease deal on an Equinox LT AWD loaner, so I have no complaints personally about how they structure the lease and distribute the incentives.
By the way this is always the case with a lease, as the lender is the actual owner of the vehicle, not the lessee. They are merely the “renter”. So only the lender can claim the Federal incentive. As mentioned elsewhere, this could be done via a direct discount, inflated residual, very low money factor, etc. During the pandemic, some lenders actually kept the incentive and didn’t share it at all with the consumer. It’s their prerogative what to do with the money. These days, however, it’s nearly always part of the deal terms and baked somehow into the incentives.
New to leasing, how do you start the conversation about this with the dealer? None of the ones listed online are even near this even with the costco and other rebates.
I’m not sure the “proper” way to do it, but this is what I do.
Identify the exact car on their lot that you want. Best if they have had it on their lot for a while (check cargurus.com to see how long they have had it).
Work up your deal on your own spreadsheet, following as close as you can to the lease contract template. This way they can easily transpose it, and know you probably know what you’re doing.
Be sure to list every incentive that you are eligible for individually.
Propose the rack rate money factor, and come up with the exact DAS and the monthly payment. Your DAS for any lease should rarely be greater than 1st mo pmt.
Take a screenshot
Find the sales manager at the dealership and their email address. Usually this is on their website, but if not, call the dealer and ask the receptionist for the sales manager (you’ll know their name at least) email address, telling them you wanted to send them an offer on a vehicle. I have never had them refuse.
Send a polite email to the sales manager, asking them to review you offer, and if they can agree to the numbers, you are willing to sign the contract today. And you MUST be willing to do that. If you’re just shopping around, don’t use this method.
There may be some back and forth, and there will be some managers who will say “If I could get it for that, I’d have 10 in my driveway”. But if you’re respectful and straightforward, then they should treat you the same. If they don’t they probably aren’t worth wasting time on.
Once you agree on terms, have them send a deal sheet over to confirm, assuring them that you are not going to shop the deal. You just want to confirm all of the numbers match.
Then, sign the deal.
If the dealer declines, send them a polite email thanking them for considering it and wishing them a great day.
That’s what I do, and I’ve gotten some pretty good lease deals over the years.
thank you for such a detailed response. My only experience was buyin a car in 2011 for the last 2010 model. so i didnt have to haggle too much to get a great deal for my car back then that i use to this day.
Do you make your own spreadsheet or did you use a template posted somewhere on the web?
Thanks for sharing. It is very helpful.
Did you get this in July?
In August MF increases, and it seems the deal is much worse. New car costs 5000 for one pay.
