Lease or Buy a GMC Sierra 1500? 3-Year Cost Compared (November 2026)
Over 3 years, leasing a 2026 Sierra 1500 Elevation costs $20,769 vs about $17,092 to buy and sell (per CarWhere data) — buy wins by $3,677, and buying's lead grows the longer you keep it.
By the CarWhere Research Team · Manufacturer lease programs, verified CarWhere deals and our depreciation report · Updated daily
Lease for 3 years
| Advertised payment | $299/mo × 24 mo |
|---|---|
| Due at signing | $6,969 |
| Total over 24 months | $13,846 |
| Prorated to 36 months | $20,769 |
| Lease cost, 3 years | $20,769 |
GMC's California-region offer on the 2026 Sierra 1500 Elevation, ends November 30, 2026. No acquisition or disposition fee is listed with the offer, so none is added.
Buy, then sell after 3 years
| MSRP | $56,695 |
|---|---|
| Price CarWhere buyers pay | $51,846 |
| Resale at 3 years (−38.7%) | −$34,754 |
| Cash buy, 3 years | $17,092 |
| Financed at 0% APR, 3 years | $17,092 |
Price = the $56,695 MSRP minus the 8.6% median discount CarWhere buyers got on the Sierra 1500 (63 verified deals). Finance line: GMC's 0% / 60-month APR offer, $0 down, interest paid in the first 36 months.
Buying wins by $3,677 over 3 years (cash); financed, the gap is $3,677 in favor of buying.
If you keep it longer
Leasing continuously at the same effective rate vs buying once and selling at year N (resale from our depreciation report; cash purchase).
| Years kept | Lease (continuous) | Buy and sell | Cheaper |
|---|---|---|---|
| 3 | $20,769 | $17,092 | Buy |
| 4 | $27,692 | $19,303 | Buy |
| 5 | $34,615 | $24,122 | Buy |
| 6 | $41,538 | $25,426 | Buy |
| 7 | $48,461 | $26,957 | Buy |
| 8 | $55,384 | $30,812 | Buy |
Assumptions
- Lease: $6,969 due at signing + $299 × 23 remaining payments = $13,846 over 24 months, prorated to 36 months ($20,769). You return the car with no excess-mileage or wear charges.
- Buy: the $56,695 MSRP minus the 8.6% median discount CarWhere buyers got on the Sierra 1500 (63 verified deals); sold after 3 years at 61.3% of the MSRP.
- Resale: CarWhere depreciation report (2026-10-25) for the GMC Sierra 1500 — median used-listing price by model year vs the median new price.
- Excluded on both sides: sales tax, registration, insurance, maintenance.
FAQ
Is it better to lease or buy a Sierra 1500?
Over 3 years, leasing a 2026 Sierra 1500 Elevation costs $20,769 vs about $17,092 to buy and sell (per CarWhere data) — buy wins by $3,677, and buying's lead grows the longer you keep it. The lease side is the current advertised GMC offer ($299/mo for 24 months, $6,969 due at signing); the buy side is the $56,695 MSRP minus the 8.6% median discount CarWhere buyers got on the Sierra 1500 (63 verified deals), less the 38.7% a 3-year-old Sierra 1500 loses in value. Taxes, registration, insurance and maintenance are left out of both.
How much does a Sierra 1500 lose in value in 3 years?
About 38.7% below the new price at 3 years old, from median used-listing prices vs the median new price in CarWhere's depreciation report (2026-10-25). On this $56,695 MSRP that is a resale value of about $34,754.
How long do you have to keep a Sierra 1500 for buying to win?
Buying already costs less at 3 years ($17,092 vs $20,769 to lease), and the gap widens each year you keep it.
Does financing change the Sierra 1500 lease-or-buy math?
With GMC's 0% APR for 60 months offer (ends November 30, 2026), financing the full price adds about $0 of interest in the first 3 years, so buying and selling costs about $17,092 vs $20,769 to lease. That assumes $0 down and top-tier credit.