The Chevy Blazer EV was unveiled in 2022, dropping in as an all-new, all-electric take on the popular crossover nameplate. Chevy Blazer EV reservation holders were invited to begin placing orders in September. Unfortunately, it’s currently looking like 2024 Chevy Blazer EV lease rates are particularly high right now.
In a recent report, CarsDirect outlines some the details regarding 2024 Chevy Blazer EV lease deals, indicating that GM Financial’s money factor (basically the financing cost of the monthly lease payment) is currently at 0.00325, equivalent to a 7.8 percent interest rate. That’s a higher interest rate than GM Financial’s lease rate for the gasoline-powered 2024 Chevy Blazer, and a 0.2-percent increase compared to a rate of 7.6 percent recorded in August.
CarsDirect also indicates that the residual value (or the estimated value of the vehicle at the end of the lease term) for the 2024 Blazer EV 2LT is at 56 percent on a 36-month lease with 10,000 miles annually. The residual value for the 2024 Blazer EV RS is even lower at 55 percent. Interestingly, GM Financial has yet to release lease rates for shorter leases on the 2024 Blazer EV, which means the all-electric crossover may not offer 24- or 27-month lease options, at least not at launch. There are further questions regarding the $7,500 federal tax credit, which GM may or may not pass along to lease customers.
That said, an EV price war could help to drive down costs. Tesla, the biggest EV manufacturer in the world, has aggressively cut prices in the last several months, including pricing for the Tesla Model Y crossover.
As a reminder, the 2024 Chevy Blazer EV rides on the GM BEV3 platform, and draws motivation from a GM Ultium battery pack and GM Ultium Drive motors. Production takes place at the GM Ramos Arizpe plant in Mexico.