While electric vehicles are getting more versatile and more realistic daily driver propositions by the year as manufacturers continually develop them, used examples that have seen their value drop considerably are generally still best suited for the city. Their limited ranges aren’t such a handicap when you’re spending most of your time threading between traffic and through tight city streets, while trips tend to last only ten or twenty miles as opposed to north of 200. Their instant torque and lack of a conventional gearbox also make driving in cities more straightforward and less frustrating than a normal car most of the time.
Used Low-Mileage Bolts Are Selling For Ridiculous Money
While having to accept high mileage EVs can be a common drawback when trying to get a decent used deal, no such compromise needs to be made when looking at used Bolts. It wasn’t a particularly expensive vehicle when it was new, with final model year 2023 specimens selling for $26,500 in their entry-level 1LT spec, while better-equipped 2LT machines retailed for $29,700. If you thought that was a decent deal on paper, given the Bolt kicked out a handy 200 horsepower and managed a solid 238 miles on a single charge, then that’s nothing compared to what they are used.
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2017-2023 Chevrolet Bolt |
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|---|---|
|
Powertrain |
Single electric motor |
|
Power |
200 hp |
|
Torque |
266 lb-ft |
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0-60 mph |
6.5 seconds |
|
Average Used Value |
$12,546–21,550 |
According to The CarBuzz Marketplace, 2023 vehicles have an average used value of just $18,382 in base spec, and $21,550 in 2LT form. The savings get even better if you opt for older pre-facelift examples, which don’t come with the revised exterior styling and cabin that the 2022 and 2023 Bolts get.
Cars from 2020 currently have an average value of just over $15k, but in reality, you can pick up a tidy example with a clean title and with well under 20,000 miles on the clock for around $10,000. Whichever way you look at it, getting a practically brand-new vehicle for that kind of money is a hell of a deal, especially when you consider the performance figures it throws out. With just shy of 240 miles of range on a full charge, it could easily last a couple of weeks of city driving before you need to cheaply charge it at home.
Despite The Discount, Bolts Have Held Their Money Better Than Their Rivals
Despite being so affordable on the used market at the moment, the Bolt has actually held its value better than some of its close competitors. The entry-level 2023 Bolt 1LT has lost 30% of its value over the last three years, whereas the same-aged Hyundai Kona Electric and Nissan Leaf have plunged by 46.9% and 45.5%, respectively. This is good news for those buying a used Bolt, as it means you can expect to lose less money during your ownership thanks to depreciation.
The Bolt Will Cost More To Run Than Other Small Cars
While the Bolt may represent solid value from a power and range standpoint as a city car, which comes with the advantage of being cheap to keep charged up as long as you make use of your home power plan, it isn’t the cheapest car to run on a regular basis. RepairPal estimates that you’ll need to spend around $650 per year to keep the car running well, which is pretty expensive for a subcompact machine such as this. By comparison, a gas-powered Toyota Corolla is only around $362 to keep sweet over a 12-month period.
Part of the reason for this is that the Bolt, especially older ones built prior to 2022, suffer from various software glitches, which can be pretty costly to diagnose and then repair. In addition, the car is pretty heavy due to the cumbersome battery pack hidden below the floor. It tips the scales at 3,563 pounds, which is well over 1,200 pounds heavier than its Chevy Spark sibling, which was the brand’s gas-powered subcompact offering. This means it’ll chew through tires, brakes and suspension componentry quicker than many subcompact rivals. Some owners have also pointed out that the fit and finish of their cars isn’t the best, so be sure to thoroughly check out any example you’re considering to make sure you’re getting one of the good ones.
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This article originally appeared on CarBuzz and is republished here with permission.
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