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GM decided it would be best to remove its oh-so-popular Chevy Bolt from production and to focus instead on its Silverado EV and Equinox EV. For a variety of reasons, including loyal customer outcry, that may not have been the best GM corporate decision ever. However, for anyone now looking to purchase a used Chevy Bolt, the time is ideal to do so.
A used Chevy Bolt is a good vehicle to drive because of its reasonable purchase price, dependable battery-electric drivetrain, battery warranty, perfectly acceptable range, and comfortable styling.
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For those of you who follow my writing, you remember how I struggled last summer about whether to keep my Honda Si with its delightful 6-speed transmission or to switch to an environmentally-friendly electric vehicle for my summer cabin in the CT woods. Ultimately, I decided to trade it in for a used EV, and I purchased a used 2017 Chevy Bolt. I’ve learned a lot about the Bolt over two summers of driving it, and I absolutely love the vehicle. The Bolt has been affordable to own, maintain, insure, and run.
All Bolts feature a 65 kWh battery pack, affording the EV a 259-mile range. The Bolt EV returns a 120 MPGe or 28 kWh per 100 miles combined energy consumption estimate. Here’s an overview that might convince you too, to add a used Chevy Bolt to your fleet.
Media Reports About EV Interest: They Do Protest Too Much
I know, I know. I’ve also read that several EV models are losing their value quickly after purchase. HPI data provided to Wired recently by Parkers UK revealed how six different EVs are all projected to halve in value after 12 months and 10,000 miles. These include the Audi e-Tron GT, the Ford Mustang Mach-E, and a Polestar 2.
But the used car market is an entity unto itself, and what happens in the UK doesn’t always mirror back to the US. The average used car prior to the Covid-19 pandemic would lose 50% of its value within five years, but that pattern changed by 2023 — the loss was reduced to 38.8%. The Chevy Bolt kept relatively close to the pre-pandemic rate, though, due to the company’s battery problems.
The Cars.com industry report for July is filled with good news if you’re considering a used EV. They conclude that, year over year, used car prices decreased 6% and inventory edged up 1%, primarily driven by an increase in the stock of vehicles under $30,000. Prices for used vehicles under $30,000 have dropped by 3% year over year, with inventory in this segment increasing 9%. They say that new EV prices down 2.1% YoY and 0.6% MoM, while new-EV demand has declined 20% YoY, used-EV demand is up almost 20%. Both used EV supply is up, 31% YoY, used EV prices have declined 10.4% YoY and 0.2% MoM for an average list price of $36,674.
So you are in a good place to buy a used Chevy Bolt if you’re monitoring different sites. In fact, if you’re savvy enough to find a used Chevy Bolt in the Hertz selloff, then you’ll end up spending less for a 2023 model than I did for my 2017. Your win would be Hertz’ loss since it reversed course on electrification and decided to unload its 20,000 EVs. But good for you! My car’s value has been worth every penny to me.
And don’t forget: if you are the first owner to apply, a used Chevy Bolt is eligible for the Used Clean Vehicle Credit, which can reduce the purchase price by $4,000.
A Brand New Battery — What A Coup!
Here’s the real value rub. If you’re buying a used Bolt EV from a Chevy dealer, be a self-advocate due the model’s previous extensive battery recall crisis. There is a flood of Bolts returning to market that had been repurchased by GM due to the battery recall. As I understand it, the cars either have a new battery or a software monitoring device on the existing battery to spot any potential failures, which will be replaced with a new battery (very few of these cars ever caught fire due to the defect).
When you shop for a used Chevy Bolt, ask if the vehicle has a new battery or not. When I bought mine, the salesperson was rather dismissive of that question, insisting that all dealer cars with a recall had to be repaired before sale. Still, ask the salesperson to print out the service history on any Bolt that interests you.
You can check yourself for the age of your battery if you’re buying from a former owner outright. Find the gap between the front and back door, go straight down and back a little bit. Bring a flashlight, as it’s a dark place to work. There is a sticker on our new battery.
Mine is a new replacement battery, and that means I have a brand new battery with an 8-year/ 100,000-mile warranty. It’s really like driving a new car. The original factory warranty is still in effect and was not restarted, to be clear.
Range? No Anxiety Here With A Used Chevy Bolt
The range on my used Chevy Bolt has been superb. In fact, the projected range on the dash has increased over the year I’ve owned it, which sorta makes no sense when I think about it. When my battery was brand new, it would read about 200 or so miles on a full charge. Early in my ownership it also reduced the anticipated remaining miles quite quickly. Now that it’s the second summer, the battery — in a way that still strikes me as a little psychic — has elevated the amount of miles that I have on a full charge, and it doesn’t seem to reduce miles as quickly as all. I’m guessing that it’s because the majority of driving I do is on wooded back roads, and the car has adjusted its guess-o-meter based on analyzing my accumulated driving data.
The Chevrolet Bolt EV offers a fine range on a single charge, making it practical for daily commuting and longer trips. In fact, my experience this summer with roadtrip charging has improved considerably since summer 2023. That means the combination of range and charger availability adds a real feeling of calm when driving a used Chevy Bolt.
Here are some charging time numbers for a used Chevy Bolt. FYI, most EV drivers don’t let the battery capacity fall below 20% before they recharge, and we hardly ever charge beyond 80% unless we’re on the road again for long extended periods.
- Level 3 DC 440V charging time (20-80%), 60 minutes, 200 miles/hour — Make sure you buy a Bolt that has a fast charging capacity! Not every Bolt does.
- Level 2 AC 240V charging time (20-40%), 1 hour, 25 miles/hour — I often add just a schtickle at a town hall or community center charger. It’s enough to get me to my home or friend’s home, where I can plug it in and leave it overnight.
- Level 1 AC 120V charging time (20-80%), 40 hours, or about 4 miles/hour — This seems awful, right? Way too long? But, please remember: you’re parking the car overnight when you wouldn’t be driving the vehicle anyway. If you need to run an errand, you unplug, zip around town, and plug back in when you return.
The Chevrolet Bolt EV was one of the most economical models before GM waved bye-bye to this model — at least temporarily — in its catalog. If you decide to join our cohort of EV owners, you’ll be glad you did.
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