Why My Used Chevy Bolt Is Worth So Much More Than Its Trade-In Value

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GM discontinued the Chevy Bolt EV and EUV on the finish of the 2023 mannequin yr. Throughout an early 2024 convention name with analysts, GM CEO Mary Barra agreed that environmental advantages of EVs proceed to be compelling to the corporate. She additionally admitted that GM’s EVs have to be deployed in strategic segments because the nation continues to construct out its charging infrastructure.

Simply because the Chevy Bolt line appeared destined for collectors, 2023 turned one of many Bolt’s greatest years but, with report gross sales within the second quarter throughout a number of markets.

It’s nonetheless laborious to wrap our heads round the truth that the Bolt EV and EUV are discontinued … at the very least for now. They’re two of probably the most profitable electrical automobiles bought within the US. I do know: I personal a Bolt EV. My choice to purchase a used Bolt was a mixture of its affordability, reliability, efficiency, vary, and security.

A brand new 2023 Chevrolet Bolt prices about $27,500 with none choices. The 2LT trim raised the seller value to $30,695. Edmunds says, “Since its introduction again in 2017, the Chevrolet Bolt has been a strong alternative for consumers in search of a compact EV.” Positive, the value of my 2017 used Chevy Bolt has dropped since I bought it in summer season 2023. Now KBB says I might promote it to a non-public celebration for about $13,000. Nonetheless, I believe there’s a worth to proudly owning a used Bolt that isn’t figured into this trade-in value in any respect. Let’s dig down and see.

Driving a Chevy Bolt permits us to expertise all of the perks of battery electrical driving with out the excessive value of newer premium fashions. Not solely is the Bolt an inexpensive EV to purchase, it additionally will value you much less to take care of, insure, and run than an inner combustion engine car (ICEV).

When a client makes the choice to purchase an EV like a used Chevy Bolt, they assist to supply a sustainable answer to mitigate the environmental and power crises and assist meet the targets for reaching carbon neutrality beneath the Paris Settlement.  It’s necessary to me to drive a battery electrical car to cut back transportation emissions — whether or not when at my year-round house or my trip bungalow within the woods. Changing gasoline with electrical energy significantly reduces the carbon emissions from driving.

A small electrical SUV just like the Chevy Bolt produces fewer life cycle greenhouse fuel (GHG) emissions than a comparable gasoline car. Electrical automobiles haven’t any tailpipe emissions — almost three quarters of the GHG emissions from a gasoline car come from the tailpipe throughout car operation. For these people involved concerning the potential for the grid to help rising ranges of EV gross sales, researchers have concluded that EVs have elevated utility revenues greater than they’ve elevated utility prices, resulting in downward strain on electrical charges for EV-owners and non-EV house owners alike.

Having a model new battery within the 2017 used car was pivotal to my shopping for choice. The recall and substitute of 2017–2019 mannequin yr Bolts with a beforehand flawed battery meant customers who buy a pre-owned Bolt from a seller in that yr span now personal a model new battery with a 8 yr and 80,000 mile guarantee.

The EV’s regenerative braking is sort of strong and properly provides electrical energy again into an EV battery whereas driving — it’s so smart and environment friendly.

A used Bolt gives nice vary at an inexpensive value. The automobiles characteristic a 65 kWh battery pack, which suggests the EV has a max 259-mile vary (I begin in search of a charger after 200 miles of journey, simply to make sure). The Bolt EV returns a 120 MPGe or 28 kWh per 100 miles mixed power consumption estimate, whereas the EUV is barely heavier on power, with its 115 MPGe or 29 kWh per 100 miles returns.

Sometime we received’t need to plan for EV charging. There can be sufficient charging stations in main metropolitan and vacationer areas to accommodate everybody who must cost. There are lots of extra chargers accessible this yr than final, and who is aware of about 2025? Plus, it’s so thrilling to suppose that the Bolt is slowly turning into accessible to the Tesla Supercharger community! It’s an entire new charging ballpark.

A used Chevy Bolt could also be eligible for the Used Clear Car Credit score if no earlier proprietor has already grabbed it. If yours is eligible, then you may scale back the sticker value by $4,000. (Get it when you can, as rumor has it EV tax credit are quickly to develop into out of date.)

The Bolt — like different electrical automobiles — gives me fast acceleration when on the high of freeway on-ramps and once I have to move a gradual driver in entrance of me. It responds properly in most site visitors conditions (nonetheless, it doesn’t have robust self-centering motion within the steering).

And it’s a SUV! Which means once I discover a treasure on Fb Market, I can raise it into the just-spacious-enough again hatch space of my very own car without having to borrow a good friend’s truck and time.

The Bolt EV can tow a trailer, as our CleanTechnica colleague Jennifer Sensiba has chronicled. If you happen to handle your towing and passenger hundreds, you may journey or haul at a lot much less value than a typical pickup truck.

There’s a regional-specific purpose {that a} Chevy Bolt has extra worth {that a} trade-in appears. In Texas, Basic Motors is teaming up with Reliant Vitality — the automaker’s house power subsidiary —  to supply free nighttime charging to some Chevy electrical car house owners in Texas. Chevy house owners who enroll in Reliant’s EV charging plan will obtain free nighttime charging by month-to-month invoice credit that offset prices incurred between 11 pm and 6 sm, the businesses mentioned. Clients should additionally designate an EV to obtain the charging credit score by GM Vitality’s Good Charging Portal.

Closing Ideas

The reintroduction of the beloved Chevrolet Bolt EV could have residual constructive results on used Chevy Bolts. The anticipated new Bolt pricing within the $30,000 vary can be robust for some entry stage consumers, so the used fashions could have actual attraction. From my perspective, GM might want to discover a method to steadiness essential profitability with the raison d’etre for the Bolt’s authentic success: it was a price range electrical automobile that launched a brand new viewers to the world of transportation electrification.

Maybe the brand new Chevy Bolt EUV could have long-range, higher design, and maintain a aggressive edge to different EVs rapidly rising in the marketplace.