The 2023 Chevy Bolt Loses Financing Deals As Tax Credit Kicks In

Now that Chevrolet's EV and EUV again qualify for the tax credit, there's no real need for the discount. And both vehicles are still mighty affordable.

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2023 Chevrolet Bolt
Image: Chevrolet

If it seemed too good to be true, it likely was. So is the case in Chevrolet’s discounts on the Bolt EVs and EUVs. The brand had announced last year that it would be lowering the price of its electric vehicles to make them more obtainable without the tax credit. Now that the tides have changed and the Bolt will again qualify for a tax credit, Chevy’s financing discounts to make up the difference are disappearing, Cars Direct reports.

After a rough 2021, Chevy made the Bolt one of the best EV deals on the market by slashing prices. Things got better if you were able to pick one up with a financing deal. A low 0 percent APR for 72 months isn’t bad on an EV that costs less than $30,000.

But for 2023, things may have gotten a bit worse for people that were still trying to score a deal on a Bolt. Financing any vehicle across the industry has gotten substantially worse. The Bolt, was no better with Cars Direct finding on financing on a Bolt at 6.49 percent for 72 months through GM Financial. The rate certainly sucks, but at least the Bolt and Bolt EUV qualify for the tax credit again.

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Luckily, as cheap as the Bolt is, you can really build it out and still enjoy a reasonable price, even with the tax credit. Including a $995 destination charge, and $1,190 in options (an infotainment package and adaptive cruise control) a loaded Bolt 2LT is just $31,885. That gets knocked down to $24,385 with the tax credit. That’s almost a no-brainer buy.

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The Bolt EUV, on the other hand, can get a bit pricey. You can load one out to $38,485 with features like super cruise and a pano roof. But add in that tax credit and you’re just under $31,000. Not bad. And while financing deals for these things may suck right now, it’s not all bad. You can still score a lease deal on a Bolt. You can still get a lease for under $400 a month for 36 months.