Even for those not eligible for all the rebates, the $7,500 tax credit makes the Bolt EV a tempting option
March 28, 2024 at 09:36
- Chevrolet ended production of the Bolt last year but thousands are still available
- A new-generation Bolt will launch next year
- Some are eligible for a $7,500 tax credit, a $9,500 rebate, and a $1,500 bonus
The propensity for the Chevrolet Bolt EV to catch fire has caused it all kinds of bad press in recent years but for those in the market for an affordable electric runabout, GM’s electric model remains a compelling option, especially if you live in California.
While production of the Bolt EV ended last year, there are still thousands of examples available from Chevy dealerships across the U.S., starting from as low as $26,500. Once you start to stack on available incentives, that price could fall to a barely believable $8,000. Yep, if you’re an eligible low-income resident of California, you can buy a Bolt EV for $8,000 or a Bolt EUV for $9,300. How is this possible?
First, both Bolt models are available with the $7,500 federal EV tax credit. The Clean Cars 4 All program in California provides a $9,500 incentive on top of that. This program is open to lower-income residents in the Bay Area, South Coast Area, San Joaquin Valley, and Sacramento area and allows them to retire a diesel or petrol car built in 2005 or earlier. They are then provided with a rebate to spend on a new BEV, PHEV, or FCEV.
The final incentive totals $1,500. It comes as part of The Bureau of Automotive Repair’s Consumer Assistance Program which offers repair assistance and vehicle retirement options. Residents of California who meet the income eligibility requirements can receive up to $1,500. Those who earn too much can still receive $1,000.
Read: GM Plotting Cheaper Chevy Bolt EUV, Could Be Built In Kansas City
Of course, there are quite a few hoops to jump through to get all three of the available incentives, particularly the latter two. Even for those who don’t live in California, the ability to purchase a 2023 Bolt EV for as little as $19,000 after the federal tax credit could prove too tempting to ignore. The only other EV available for a similar price is the Fisker Ocean but you probably don’t want that, do you?
