Jessica Lynn WalkerCar and Driver
- We found some reports about Chevrolet offering zero percent APR financing deals on certified pre-owned Bolt EV and Volt plug-in hybrid models.
- That being said, we were unable to track down any dealer actually offering them, although Chevy is also giving out a zero percent APR deal on new Bolt EVs.
- Even without that zero percent APR, used plug-in vehicles from a few years ago are often solid deals.
If you’re out shopping for a used plug-in vehicle, January could be a good month to visit your local Chevy dealer—if they have certified pre-owned models in stock, anyway. That’s because, according to Cars Direct, Chevrolet has sent a notice to its dealers saying they can offer zero percent APR for 72-month leases on certified pre-owned (CPO) Bolt EVs and Volt plug-in hybrids.
These deals are not available for all used Bolts or Volts, and CPO vehicles are less common than an average used model, but if you can find one and are ready to make a five-year deal, the price could be well under $200 a month for an older Volt. The trouble is navigating numerous notoriously clunky dealer websites to find what’s available around you. The deals on used Bolt EVs and Volts reportedly run through February 1.
The idea that older Bolt EV models are being pushed out the door is no real surprise, since Chevy has been teasing the new 2022 model since last fall. The new Bolt EV will go into production this summer alongside a larger Bolt EUV crossover, which will be the first Chevy with GM’s Super Cruise driver-assist technology.
On the official Chevrolet website, new Bolt EVs are getting deals, too, with 2020 models being offered with up to $7000 of down payment assistance and zero percent APR if you sign up for an 84-month financing deal. Financing a new 2021 Bolt EV through GM Financial means you can get up to $3500 in down payment assistance and zero percent APR for a 72-month agreement. As you might suspect, these deals are only for “well-qualified buyers.”
Where you are in the country also makes a difference in what deals and vehicles are available. Los Angeles–based Felix Chevrolet, for example, is offering up to $16,000 in incentives for new Bolt EVs but doesn’t have any used Bolt EVs in stock. Over at Allen Gwynn Chevrolet in Glendale, California, a 2020 CPO Bolt EV is listed at a little over $27,000 online, but a sales manager there told Car and Driver that the zero percent APR deal does not apply. Other Chevy dealers we spoke with were also unable to confirm the zero percent APR offer for CPO models.
Green Car Reports speculates that deals on older Bolt EVs were prompted because of the recall last fall related to battery capacity issues. GM recommends these older Bolts get reprogrammed so they charge only to 90 percent of their total capacity because of potential fire hazards. One dealer in California told us that there’s a stop sale on 2017–2019 used Bolt EVs until the battery issue is solved. However, 2020 and newer Bolt EVs do not have the same battery issue. A GM spokesperson has not yet replied to our request for comment on this matter.
All Chevrolet CPO vehicles come with the original six-year/100,000-mile powertrain warranty with roadside assistance (if any of it still applies) and a 12-month/12,000-mile bumper-to-bumper limited warranty that takes effect when you buy the CPO vehicle.
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