Chevy Equinox EV Lease Prices Increase While Bolt Costs Decrease
June 12, 2026
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Key Takeaways
The Chevrolet Equinox EV lease price in Canada has increased, with the FWD LT2 model now costing $529 per month for 36 months, and the base FWD LT1 model costing $554 per month, following the reduction of discounts from $10,000 to $1,000.
Canadian pricing for the 2026 Equinox EV starts at $36,495 for the base LT 1 FWD model, offering up to 319 miles of range, and buyers may still be eligible for the iZEV incentive, which offers up to $5,000 in rebates for eligible electric vehicles.
The Hyundai IONIQ 5 and Chevy Bolt are strong competitors in the Canadian electric vehicle market, with leases starting at $259 per month for 24 months and $411 per month for 39 months, respectively, and Canadian buyers can also take advantage of provincial rebates, such as British Columbia's SCRAP-IT program.
EV Lease Prices in Canada: A Shift in the Market
The Chevrolet Equinox EV, touted as America's most affordable electric vehicle with over 315 miles of range, has seen a significant increase in its lease price this month. Just two months ago, Canadian buyers could secure a $10,000 discount, equivalent to 20% off the sticker price of a new 2026 Chevy Equinox EV. However, this offer is no longer available, and the discounts have been reduced to a $1,000 cash allowance on select Equinox EV models, excluding the most affordable LT 1 trim. Canadian pricing for the 2026 Equinox EV starts at $36,495 for the base LT 1 FWD model, which offers up to 319 miles of range.
Lease Options and Pricing
The lease price for the 2026 Equinox EV FWD LT2 has increased to $529 per month for 36 months, with $4,729 due at signing, resulting in an effective cost of $650 per month. In contrast, the base FWD LT1 model, which was available for lease at $269 per month for 39 months in April, now costs $554 per month with the same $3,659 down payment. Canadian buyers may still be eligible for the iZEV incentive, which offers up to $5,000 in rebates for eligible electric vehicles. Additionally, some provinces offer their own rebates, such as British Columbia's SCRAP-IT program, which provides incentives for purchasing an electric vehicle.
Comparison with Other EV Models
The new 2027 Chevy Bolt, on the other hand, has become a more affordable option, especially for Costco members who can take advantage of a $1,000 incentive (or $1,250 for executive members) towards the purchase or lease of a new Bolt. With a starting price of $28,595, the Bolt is now cheaper to lease than the Equinox, with a 39-month lease costing $411 per month for the base FWD LT model. The Hyundai IONIQ 5, however, remains a strong competitor, with leases starting at $259 per month for 24 months and a $7,000 discount on all 2026 models. The Tesla Model Y is also available for lease, starting at $459 per month for 36 months. Canadian availability and pricing for these models may vary, and buyers are encouraged to research and compare prices in their local market.
Features and Specifications
While the Equinox EV offers more interior space, power, and a longer driving range than the Bolt, the latter is still a solid option for those looking for a more affordable electric vehicle. The Equinox features a 17.7″ touchscreen infotainment system, the largest in its class, and offers all-wheel drive, whereas the Bolt is only available with a front-wheel-drive powertrain. The IONIQ 5, on the other hand, offers a range of up to 318 miles and starts at $39,100 for the long-range SE RWD model. Canadian buyers can take advantage of provincial rebates, such as Ontario's Electric Vehicle Incentive Program, to reduce the cost of their electric vehicle purchase.
Conclusion
In conclusion, the Canadian electric vehicle market is constantly evolving, with changing lease prices and incentives. Buyers are encouraged to research and compare prices, features, and specifications to find the best option for their needs and budget. With the iZEV incentive and provincial rebates available, Canadian buyers can make an informed decision and drive away in their new electric vehicle.
