But there's a catch, of course.
The refreshed 2021 Chevy Traverse and all-new Chevy Tahoe were recently unveiled and the Chevy Impala is now officially dead as the American automaker continues to phase out traditional cars in favor of SUVs, crossovers, and pickup trucks. Although neither the Traverse nor Tahoe are new nameplates, it's clear where the investment focus lies. And it will continue this way for the foreseeable future. But there are still plenty of Chevy owners still driving conventional cars and the company wants to make sure their next vehicle is a Chevy.
According to a dealership incentive bulletin discovered by Cars Direct, Chevy has begun quietly offering generous incentives to certain groups of Chevy owners to upgrade their vehicles now rather than later.
Those currently leasing a Chevy Cruze, Malibu, or Equinox are now being offered what's called a "Move Up" bonus in order to get them to lease a larger vehicle. This isn't just a few hundred dollars. Eligible customers can now receive up to $3,000 off a 2020 Chevy Tahoe or Suburban. Have a new 2020 Colorado in mind? There's up to $2k in savings. The Traverse, Blazer, and Equinox also have money on the hood with $1,500, $1,250, and $1,000 in savings, respectively.
And in case you haven't already noticed, these offers are only good for leasing, not buying. That's the catch. But for those who are happy to keep on leasing, then there are more potential savings to be had.
Another document was quietly sent to dealers explaining a rewards program giving any GM lessee a purchase bonus that's good for $500 to $2,500, and it can be applied to additional vehicles not listed above. But there's another critical element to this latest lease offer: it can be applied to other discounts.
For example, there's already a $3,000 discount on the 2020 Tahoe whether buying or leasing, and if you're currently driving a Cruze, Malibu, or Equinox, you can combine both offers for a total of $6,000 in lease savings.