GM Canada restores leasing on Chevrolet and GMC vehicles

In July 2008, General Motors put its leasing operations on a short leash, much to the chagrin of Canadian drivers who appreciate the short-term acquisition and lower monthly payments that come with it.

Good news: the automaker is restoring leasing on Chevrolet and GMC vehicles. The decision will likely make GM more competitive in key market segments such as subcompact and compact cars and full-size pickup trucks.

Leasing as a financing option for Buick and Cadillac customers was reinstated last fall.

Chevrolet Camaro SS (Photo: Matthieu Lambert/Auto123.com)

Here are some of the current offers:

• Chevrolet Aveo: 36 months (4.5%), 48 months (4.9%) or 60 months (5.5%);
• Chevrolet Cruze: 36 months (5.8%), 48 months (5,8%) or 60 months (6.1%);
• Chevrolet Equinox/GMC Terrain: 36 months (4.2%) or 48 months (4.99%);
• Chevrolet Camaro: 36 months (5.99%) or 48 months (6.5%);
• Chevrolet Silverado/GMC Sierra: 36 months (6.79%) or 48 months (6.99%).

Regular financing and the Smart Purchase Financing program are still available. The latter offers low monthly payments and the opportunity for customers to return their vehicle at a fixed point in the contract term, subject to payment of a $199 disposal fee. As with leasing, additional charges apply for any excess wear and tear or mileage.