The Chevrolet Bolt has gotten a bit of a bad rep since General Motors had to recall every car built between 2019 and 2022 for battery fire risks. But that problem has reportedly been resolved and cars are rolling off the production line once again, ready to land in any budget-conscious EV buyer’s driveway.
Earlier this year, Chevy decided to blow out the remainder of its model year 2022 Bolt and Bolt EUVs by dropping a fat stack of cash on the hood—$5,900 and $6,300, respectively, to be exact. This not only made the Bolt and Bolt EUV a screaming deal but also gave the model the title of most affordable EV in the U.S—at least until Aug. 31. However, GM has decided to keep its cash allowance deal going for the remainder of 2022, meaning prospective buyers have that suitcase full of money offer still at their disposal.
Buyers interested in the base-trim Bolt 1LT will need to shell out around $26,595 after incentives (that’s around $2,300 cheaper than a new 2023 Nissan Leaf), while the higher-trimmed 2LT will cost around $29,795.
Likewise, the Bolt EUV comes in at a slightly higher $28,195 base price and can reach as high as $32,695 (more than $14,000 cheaper than a Tesla Model 3 base) for the Premier trim. Both figures include GM’s rather modest $995 destination fee.
Now, here’s the kicker—despite the Inflation Reduction Act brewing up a new era of the EV tax credit, it won’t actually benefit anyone that chooses to buy a Bolt today since GM has already had its legacy tax credit eligibility phased out. Buyers can either purchase a 2022 Bolt with its hearty cash allowance before the end of the year or wait until Jan. 1 and potentially purchase one and receive the new $7,500 credit. The latter seems like it would be a better buy, so as long as the price of the Bolt also doesn’t trend upwards.
Does that mean the Bolt or Bolt EUV is a bad buy right now? Not at all. Despite being in EV limbo, the Bolt is still America’s most affordable EV with GM’s current incentives, meaning that buyers who do choose to take advantage of today’s pricing likely will still end up with a super affordable entry into the electric car space.
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