2024 Cadillac LYRIQ Lease Price Reduced To $499/mo

Cadillac has been gradually beefing up their LYRIQ incentives for a while now, but they gave it a big boost with the EV lease deal announced this April. GM’s luxury division lowered the 2024 LYRIQ’s monthly premium by $70, bringing it below $500 for the first time. Here’s what you need to know about the latest 2024 Cadillac LYRIC lease discount.

The 2024 Cadillac LYRIQ doesn’t often make it among our best rental EVs, but it became a very interesting proposition this month. Cadillac lowered the monthly payment for the 2024 LYRIQ Technology RWD by $70 and the amount due at signing by $260 compared to the deal we saw in March. The current contract is $499 per month for 36 months with $5,089 due at signing. The effective monthly cost comes to $640, which is a solid value compared to the LYRIQ’s $58,590 MSRP.

How can Cadillac increase its offer this much? According to our analysis, Cadillac is using the $7,500 LYRIQ tax credit to increase the residual value, which in turn allows them to make lower monthly payments.

Following this upgrade, the LYRIQ is very close in affordability to its Chevrolet counterpart, the Blazer EV. Chevy is currently offering the Blazer EV for $469 per month for 39 months with $2,819 expected at signing. The effective monthly cost comes to $541, which is a better value then the LYRIQ given the Blazer EV’s $50,195 MSRP.

However, LYRIQ is worth considering with its new plan. The Cadillac has 52 more horsepower than the Chevy and has a more advanced interior, namely a large 33-inch touchscreen borrowed from the Escalade. The $99 difference in monthly cost between the LYRIQ and the Blazer EV is far from a free upgrade, but the LYRIQ’s latest incentives make it even more attractive.

Pictured: 2024 Cadillac LYRIQ

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