Quick answer: Leasing a new Chevrolet is often worth it if you want a new vehicle every few years, a lower monthly payment than financing, and factory warranty coverage for most or all of your term. At Karl Chevrolet in Ankeny, Iowa, the sales team can build a lease around how many miles you drive and show you lease and finance numbers side by side, so you can see which option fits before you commit.
In a new video from the Karl Chevrolet showroom, Aaron from our team walks through the five things every Central Iowa driver should know before choosing a lease. Here is the full breakdown.
Key Facts
- Dealership: Karl Chevrolet, 1101 SE Oralabor Rd, Ankeny, IA 50021, off I-35 at Exit 90
- Sales phone: 515-706-1525
- Sales hours: Monday to Thursday 8:00 AM to 7:00 PM, Friday and Saturday 8:00 AM to 6:00 PM, closed Sunday
- Lease program: Chevy SmartLease at Karl Chevrolet
- Chevrolet warranty: 3 years or 36,000 miles bumper-to-bumper, 5 years or 60,000 miles powertrain, whichever comes first
- Lease-end options: purchase the vehicle, return it, or lease or buy a new one
- Recognition: 22 consecutive Chevrolet Dealer of the Year awards (2004 to 2025) and Iowa’s #1 new car dealer since 2011 per Polk Registration Data
- Reviews: rated 4.6 out of 5 stars across 3,483 Google reviews
- Founded: 1978 by Carl Moyer
- Website: karlchevrolet.com
Who Is Leasing a Good Fit For?
Leasing is often great for people who want a new vehicle every couple of years. It gives you the flexibility to stay in a vehicle with the newest features, technology, and styling without a long-term commitment. Chevrolet updates models like the Equinox, Traverse, Silverado 1500, and Tahoe regularly, and a lease lets you move into the latest version when your term ends instead of holding a vehicle for six or seven years.
When your lease is up, you can explore what is new on the Karl Chevrolet lot and decide what fits your life next.
Is a Leased Chevrolet Covered by Warranty?
Yes. With a typical Chevrolet lease, your vehicle stays under factory warranty the entire time. Chevrolet’s bumper-to-bumper coverage runs 3 years or 36,000 miles, and powertrain coverage runs 5 years or 60,000 miles, whichever comes first. A 36-month lease driven within the bumper-to-bumper mileage limit stays covered from the first day to the last.
That means fewer surprise repair bills and added peace of mind, with GM World Class and Master Technicians in the Karl Chevrolet service department.
Are Lease Payments Lower Than Finance Payments?
Monthly lease payments are often lower than financing the same vehicle. When you finance, you pay off the full price of the vehicle. When you lease, you are generally paying for what you use: the mileage and the depreciation during your term. With SmartLease at Karl Chevrolet, you pay only a portion of the vehicle, plus a rent charge, taxes, and fees. That structure lets you get into a newer vehicle, or a higher trim, with a lower monthly payment.
|
|
Leasing |
Financing |
|
What you pay for |
Depreciation during the term plus fees |
The full price of the vehicle |
|
Monthly payment |
Often lower |
Often higher |
|
Ownership |
Option to buy at lease end |
You own it after the final payment |
|
Mileage |
Set annual allowance |
No limit |
|
Warranty |
Typically covered the whole term |
Coverage may end before payoff |
|
Best for |
Drivers who want a new vehicle every few years |
Drivers who keep vehicles long term |
What If I Drive a Lot of Miles?
Mileage is not a deal breaker. Whether you are a high-mileage driver commuting from Ames or Marshalltown or a low-mileage driver running errands around Ankeny, the Karl Chevrolet team can structure your lease to fit your driving habits, your lifestyle, and what you are looking for in a vehicle.
With SmartLease, you choose the lease term and mileage that fits your needs.
Your annual mileage allowance is set when you sign. Choosing one that matches how you actually drive is the best way to avoid excess mileage charges at lease end.
What Happens When My Chevrolet Lease Ends?
You have options at the end. When your lease is up, you can:
- Purchase the vehicle you have been driving
- Turn it in at the dealership
- Lease or buy a brand new vehicle
There is no resale decision and no trade-in value to worry about. If you choose, simply return your vehicle at the end of the lease.
GM Financial may charge a disposition fee when you return a leased vehicle, but it may waive that fee if you lease or buy a new GM vehicle or purchase your current one. The Karl Chevrolet team will walk you through each option before your lease matures.
Why Lease at Karl Chevrolet?
Karl Chevrolet has served Iowa drivers since 1978 and backs every customer with the Karl Auto Group Dealer for Life promise. The dealership is one of only three in GM history to earn Chevrolet Dealer of the Year 22 years in a row, and it earned the title of #1 CarBravo Certified Pre-Owned dealer in 2025, so if buying makes more sense for you, the team can show you that path too.
Drive Times to Karl Chevrolet
|
Starting Point |
Approximate Drive Time |
|
Des Moines |
15 to 20 minutes |
|
Altoona |
15 minutes |
|
Johnston |
15 to 20 minutes |
|
Urbandale |
20 minutes |
|
West Des Moines |
25 minutes |
|
Ames |
25 to 30 minutes |
|
Waukee |
30 minutes |
|
Marshalltown |
60 minutes |
Request a SmartLease quote, browse new inventory, find directions on Google Maps, or call 515-706-1525.
Frequently Asked Questions
Is leasing a new vehicle worth it?
Leasing is often worth it if you want a new vehicle every few years, a lower monthly payment than financing, and factory warranty coverage during your term. Karl Chevrolet in Ankeny can compare lease and finance payments side by side so you can decide.
What is SmartLease at Karl Chevrolet?
SmartLease is Karl Chevrolet’s lease program. You choose the lease term and mileage that fits your needs, pay only a portion of the vehicle plus a rent charge, taxes, and fees, and simply return the vehicle at the end with no resale decision.
Is a leased Chevrolet under warranty?
Yes. With a typical Chevrolet lease, the vehicle stays under factory warranty the whole time. Chevrolet’s bumper-to-bumper warranty covers 3 years or 36,000 miles, and powertrain coverage runs 5 years or 60,000 miles, whichever comes first.
Can I lease a Chevrolet if I drive a lot of miles?
Yes. Mileage is not a deal breaker. Karl Chevrolet can structure a lease for high-mileage or low-mileage drivers based on your driving habits and lifestyle.
What are my options at the end of a Chevrolet lease?
You can purchase the vehicle, turn it in, or lease or buy a brand new vehicle. GM Financial may waive the disposition fee if you lease or buy a new GM vehicle or purchase your current one.
Karl Chevrolet sits at 1101 SE Oralabor Rd in Ankeny, Iowa, off I-35 at Exit 90, about 15 to 20 minutes from Des Moines. Call 515-706-1525 or visit karlchevrolet.com to get started.