Incredible Discounts on the 2023 Chevrolet Bolt EV
Switching to an EV isn’t for everyone; however, for many individuals, converting from gasoline to electric makes significant financial sense. That said, EVs generally tend to remain on the pricier side, even with recent gas model price hikes. Despite federal incentives such as tax credits, there can be considerable costs involved in setting up an at-home charging system.
Affordable Electric Vehicle Options
Considering this context, the allure of a lower purchase price becomes clear. What if you could acquire an EV for less than $10,000? For those who don’t require a particularly large vehicle, a 2023 Chevrolet Bolt EV can be purchased for approximately $8,700, while its counterpart, the slightly larger Bolt EUV, is available for about $10,300, as reported by CarScoops.
Eligibility Criteria for Discounts
Before you get too excited about trading in your gasoline-powered vehicle for a new electric Chevy, it is essential to note that qualifying for such a discount requires meeting specific criteria. Specifically, you must be classified as a “low-income” resident in certain areas of California. This discount is part of the state initiative known as “Clean Cars 4 All.” Furthermore, you’ll need to retire an internal combustion engine (ICE) vehicle manufactured in 2005 or earlier.
Breaking Down the Savings
Let’s analyze the savings, as detailed by CarScoops. Upon retiring an eligible ICE vehicle, you can qualify for a maximum rebate of $9,500. Additionally, a $7,500 federal EV tax credit is applicable, even beyond the California rebate. Moreover, the Bureau of Automotive Repair’s Consumer Assistance Program offers up to $1,500 in California for vehicle retirement. Altogether, these incentives can amount to a whopping $18,500 in discounts.
Final Considerations
When you apply these incentives to the starting price of $27,165 for the 2023 Chevrolet Bolt, it effectively lowers the cost to $8,665. The price for the Bolt EUV drops to $10,295 after applying discounts. It’s worth noting that Chevrolet has discontinued production on the Bolt EV, leading to various models remaining on dealership lots. Consequently, you may find opportunities to purchase one for an even better price. As with any purchase, it’s advisable to explore different options to secure the best deal.
The Bolt EV stands out as an enjoyable and practical electric vehicle, boasting impressive range capabilities. Getting an EV for $8,665 while simultaneously retiring an old gas vehicle offers a fantastic deal, provided you meet the necessary criteria.
