The 2024 GMC Sierra EV’s lease price will give you sticker shock

Based on the latest incentive data, the 2024 GMC Sierra EV lease price costs nearly twice as much as GMC’s HUMMER EV.

The 2024 GMC Sierra EV lease prices could start at over $1,700 a month. Sheesh.

In auto leasing, the interest rate is called a money factor, lease factor, or lease rate. A money factor is expressed as a decimal. To see your APR, you multiply it by 2,400. CarsDirect reports that the 2024 GMC Sierra EV has a 36-month money factor of 0.00341. That’s equivalent to an interest rate of 8.18%, slightly higher than the HUMMER EV‘s 8.06% rate.

More importantly, the Sierra’s published residual value – how much the leased vehicle will be worth at the end of the lease term – is 53%. That’s 23% less than the HUMMER EV’s residual value of 76%.

CarsDirect reports that leasing a Sierra Denali EV, with an MSRP of $99,495, costs $1,745 for 36 months based on no money down and 10,000 miles a year.

Meanwhile, the $98,000 HUMMER EV is advertised at $999 with $0 due at signing – that’s $746(!) less per month. 

This is an even worse deal than the Silverado, which I reported on yesterday. Like the Silverado, the Sierra has no other financing incentives or rebates, and it doesn’t qualify for the $7,500 federal tax credit because it exceeds the $80,000 MSRP cap.

If you really want to lease a 2024 GMC Sierra EV, you might want to wait to see whether the price comes down, because this price is eyewateringly high.

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