How to Score a Chevrolet Bolt EV for $8K

Discover how federal and California incentives can dramatically lower the Chevrolet Bolt EV’s price to $8,000, making sustainable driving more accessible.

The electric vehicle (EV) landscape in the US is expanding swiftly, with a notable, albeit slower, growth in EV adoption as consumers increasingly embrace electric mobility. Despite the appeal of EVs, their higher price tags compared to traditional gasoline vehicles remain a significant barrier for many potential buyers. However, a combination of federal and state incentives is making EV ownership more accessible, particularly in states like California where generous programs can significantly lower the cost of an EV like the Chevrolet Bolt.

To acquire a Chevrolet Bolt EV for approximately $8,000, individuals can leverage a trio of financial incentives. At the federal level, the Inflation Reduction Act of 2022 offers a tax credit of up to $7,500 for eligible EV purchases across the United States. In California, the Clean Cars 4 All Program targets low-income individuals driving older, gasoline-powered vehicles, providing them with a $9,500 rebate towards the purchase of an EV, plug-in hybrid, or fuel cell vehicle. Additionally, California’s Bureau of Automotive Repair offers a Customer Assistance Program, which includes a $1,500 incentive for low-income applicants to retire their older vehicles. Combined, these incentives can reduce the out-of-pocket cost for a Chevy Bolt EV to around $8,000.

Despite the Chevrolet Bolt EV ceasing production last year, it remains a viable option for those seeking an affordable EV, with some units still available at dealerships. Originally priced starting at $26,500, the Bolt EV offers a competitive range of 259 miles per charge, seating for five, and substantial cargo space. It comes equipped with modern features such as a 10.2-inch infotainment touchscreen and wireless connectivity for Apple CarPlay and Android Auto, alongside Chevy Safety Assist. Given its discontinuation, availability is limited to existing dealership stock, urging interested buyers to act swiftly.