Advice on sierra ev lease

Ask the Hackrs
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1

Hey there,

I wanted to personally thank the Leasehackr community for all the insights I’ve gained over the past three months. I’ve been shopping for the best lease deal on a GMC Sierra EV, and this is the best offer I’ve received so far:

  • Model: 2024 GMC Sierra EV Denali Edition 1
  • Lease Term: 3 years
  • Annual Mileage: 12,000 miles
  • One Time Lease Total Cost: $28,800 (including taxes and fees)
  • Vehicle Status: Courtesy loaner with 500 miles on the odometer
  • Residual Value: $63,530

This seems like a solid deal, especially considering that some lease estimates for this model have been significantly higher. However, I’m uncertain about a couple of factors:

  1. Model Year Transition: With the 2025 models approaching, is it likely that prices for the 2024 Sierra EV will decrease further?

  2. Tariff Implications: Could potential new tariffs lead to price increases in the near future?

  3. Loaner Truck: Should I worry about that fact the car was a loaner car with 500 miles? does that make a difference?

Given these considerations, do you think this is a good deal, or would it be advisable to wait? Any insights or advice would be greatly appreciated.

Here is approx calc breakdown, not exact one.

2

The important questions to ask are about your deal as it stands, not an unknown future re: tariffs. How does the discount break down between rebates vs dealer contribution? A low mile loaner is a great way to hack a great price.

Start with the rebates. What do you have? Costco, supplier?

Regarding 2025, there are lower priced trims coming out but no one can say if they will get the same level of rebate support.

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3

Thanks! Yes, the sales rep will apply the Costco Executive discount, and the dealer is offering a $3,000 discount on this specific VIN.
First time lease here, all of that is already factored into the numbers above—the total one-time lease cost is $28,800. What else I should be looking for?

4

Check other data points but a 3% dealer discount is pretty weak. Separately did you check to make sure you don’t qualify for gm supplier.

5

The car should qualify for the courtesy loaner credit. It could very well be the “discount” the dealer is giving you.

@moodyhank if I can tap you - does the loaner credit apply even at 500 miles or do they need to clock to some sort of minimum?

6

I don’t have any affiliation with gm, I don’t think I qualify for the supplier discount. How can I confirm that?

7

Check the supplier website. Way more company quality than you would think.

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I have been told that the unit needs to be in loaner service for 2 months and 2k miles but one GSM told me it is either/or. If the dealer is telling you that the unit qualifies for the loaner credit, I would take their word for it.

Either way this is not a good dealer discount on a 2024. Granted mine might be a unicorn, I have just leased a dealer training unit First Edition Sierra EV with 1300 miles on it for about $7-8k cheaper than your quote using only costco executive and conquest for a total of $1500 in rebates. It didn’t apply to mine, but for a regular loaner $2k supplier incentive should also apply btw.

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MY25 units have been in lots for a while now and the 2024 units have been moving pretty quickly once they are advertised at a strong discount. I wouldn’t wait for too long if you are set on the Sierra EV. Silverado EV RST does lease better and there are a lot more of 2024s available compared to the Sierra EV…

10

As a way to compare leases, what was the total lease amount of the one you closed on?

when I plugged in the numbers in the calculator, I shared the link in the original post, it came out as 10.3 years.

11

Taxes and whether rebates are taxable will skew the final numbers a lot even if you start with an identical discount.

The discount is the main variable and that’s what you need to be asking & targeting … X percent for new and Y for loaner.

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I have a 8.15% sales tax and the initial quotes we had started to work on were $22.7k one pay for 36/10 and $17.3k for 24/10 with March numbers, which might be different than this month. I went with 24 months and negotiated it down to $16.5k.

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Would be possible to share a snapshot of the contract? ofc take out all critical info, I wanna use this to negotiate with him

He is telling me that 28800 end to end including taxes and fees and everything. 36 months/12000 miles annually

14

Sent you a dm