Cheapest new-car lease is all-electric: Chevy Bolt EV lease deals as low as $107 per month

With a refreshed 2022 model on the way, lease deals for the 2021 Chevrolet Bolt EV are now as low as $107 per month, but only for Costco members in certain parts of the country.

Chevy has launched a new lease deal with the retail chain, according to our partner site CarsDirect, enabling what could be the cheapest new-car lease in the United States right now.

A dealership bulletin shows that all Bolt EV hatchbacks now qualify for a $3,000 Costco member bonus. That applies to both buying and leasing, and to 2021 and 2020 models.

In most parts of the country, that lowers lease rates to $147 a month, according to CarsDirect. The cheapest lease is only available in San Francisco, where shoppers can get the aforementioned $107 a month for 36 months, with $107 due at signing and an allowance of 12,000 miles a year.

That rate assumes the $3,000 Cost bonus, $7,750 in manufacturer lease cash, a $1,400 incentive currently available in San Francisco, and a $2,250 incentive for shoppers coming from non-General Motors brands. However, it doesn’t include the $2,000 Clean Vehicle Rebate and $1,500 Clean Fuel Reward available in California.

2021 Chevrolet Bolt EV

Last year a $3,000 bonus when buying or leasing applied to the Bolt EV along with a $5,750 national lease incentive—bringing the monthly payment as low as $154, depending on the location. This new deal not only works out to a cheaper lease payment, but also applies to the Bolt LT with DC fast charging, which wasn’t the case with the previous deal, according to CarsDirect.

These weren’t the only times being a Costco member helped score a bargain on the Bolt EV. In 2017, GM extended supplier pricing on most of its models to Costco customers.

GM also isn’t the only automaker to offer deals on EVs through Costco. Audi has offered a deep discount on the E-Tron as well—up to $13,000 off the sticker price last year.

However, Costco is also one of the few (if any) major retailers to have removed its EV chargers, in 2011. Perhaps if more members take advantage of its EV discounts, the chargers will return.

The latest Bolt EV deal attempts to keep the 2021 model moving, as the 2022 Bolt EV and Bolt EUV arrive this summer with a price cut.