Has anyone noticed the price of used Bolts dropping dramatically? Used car prices in general have been dropping but it seems like Bolts have been particularly hard hit. I was hoping to buyout my lease and trade-in or sell for net positive equity. But looking at the trends and some initial trade-in values it seems like I might as well just return the Bolt when the lease is over in a few months.
Used Bolt EV prices dropping like a rock
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Battery replacement master thread - please do not create a new thread.
boltster
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2020 Bolt LT Red, prior 2021 Bolt LT White, prior 2018 Bolt LT Black
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182 Posts
Prices have come down on used Bolts! I just bought a 2020 Bolt LT. It has all the extra bells & whistles, new battery, with under 18,000 miles. The lease on my 2021 Bolt was ending. I wanted to buy mine but I couldn't get the $4000 off instant tax credit on my own leased vehicle. I got this 2020 Bolt, after federal & state rebates, for $8749. Can't beat that!
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2,639 Posts
Seriously, a used Bolt for under $10k should be in every driveway in america.
2020 Bolt LT Red, prior 2021 Bolt LT White, prior 2018 Bolt LT Black
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182 Posts
I forgot to count my down payment in the math but regardless, this Bolt new had a window sticker for $40,405 MSRP so that's a huge drop in price and a great deal for me!
But are they cage free?
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2,160 Posts
Have been thinking about replacing my high-mileage 2019 (110k) with a low-mileage 2020. Between federal and state rebates I should at least break even, maybe even get something back.
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12,197 Posts
I would pay $14k instantly for a 2020. That's the prices I was seeing for 2017 models back in 2020.
That's not a federal thing. That's a corporate decision, to sell new cars only through authorized dealers. Lord God Elon doesn't.
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2,639 Posts
All of the federal tax credits have a dealer purchasing requirement, even used. It was the way to get republicans on board to sign. Keeps people having to go to a dealer for a used car.
And Ford last week launched online buying of EVs, no haggle, no negotiation, just shop online and buy.
EDIT:
No, there's nothing in the IRS guidelines about dealers. Read it yourself.
Credits for new clean vehicles purchased in 2023 or after | Internal Revenue Service
You may qualify for a clean vehicle tax credit up to $7,500 if you buy a new, qualified plug-in electric vehicle or fuel cell electric vehicle.
The congressman next district over is a car dealer. You know he wanted it to be dealers only. But wanting something a whole lot is not always enough to alter reality.
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2,639 Posts
Special interests and lobbyists designing our laws, its what makes us great....
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652 Posts
...for new vehicle purchases. For used vehicles, the sale qualifies only if:
- You buy the vehicle from a dealer
- For qualified used EVs, the dealer reports required information to you at the time of sale and to the IRS.
Used Clean Vehicle Credit | Internal Revenue Service
If you buy a qualified used electric vehicle from a dealer for $25,000 or less, you may be eligible for a clean vehicle tax credit of up to $4,000.
If you are in the Stockton area, here's a $10K 2017 Bolt EV. Price just dropped about $3K... not sure if there are any gotchas. The battery warranty is likely to be still in effect.
2021 Bolt Premier, 2018 Honda Clarity, 2018 Honda CR-V, 2013 Honda Accord
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124 Posts
I’ll bet they increased the price by $1k and are now quoting it net of the $4k tax credit. That’s what I’m seeing in MA.
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12,197 Posts
A similar age gen I Nissan Leaf never went for as low as $10k. I'd scoop one up even at the $13k price.
2021 Bolt Premier, 2018 Honda Clarity, 2018 Honda CR-V, 2013 Honda Accord
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124 Posts
I wasn’t actually opining on the net price - I just think it’s an example of a sc@mbag dealership tactic.
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