Chevy offers 0% financing on used Bolt EV and Volt
If you're considering a used electric car, now might be a good time to spring into action. General Motors is offering 0% APR financing for 72 months on used Chevrolet Bolt EV electric cars and Chevy Volt plug-in hybrids, report our companion site CarsDirect, which cited a bulletin sent to dealerships last week.
The deal, which runs through February 1, is the type of offer typically seen only for new cars.
Only factory-certified used cars are eligible, the website said, adding that dealerships may certify used cars to their own standards, but these dealer-certified vehicles do not qualify for financing deals from the automaker. Chevy also provides a 12-month bumper-to-bumper warranty and 6-year powertrain warranty for its factory-certified used cars, plus roadside assistance and two free maintenance visits.
The reason for deals on used models may be that Bolt EVs of this vintage are currently being limited to 90% of their battery capacity, as GM and cell supplier LG Chem work on a solution to an issue potentially related to Bolt EV fire risk.
2018 Chevrolet Bolt EV
The 2020 Bolt EV and some 2019 models aren't affected by that issue. For 2020, Chevy upgraded the battery to 66 kwh and 259 miles of rated range, up from the previous 60 kwh and 238 miles.
New 2020 Bolt EV hatchbacks are also eligible for 0% APR financing, but with an 84-month term, according to CarsDirect. That deal also includes $7,000 in down-payment assistance, and Chevy is offered a separate $750 "conquest bonus" to buyers coming from another brand, the website noted.
Meanwhile, GM has teased a number of details on the 2022 Bolt EUV, a somewhat larger model that will offer Super Cruise driver-assist tech, but remain front-wheel-drive only.
It's in GM's interest to solve the Bolt EV issues before the automaker's next fully-electric model arrives: the $112,595 GMC Hummer EV Edition 1.