The Chevrolet Bolt EV is a solid electric car. While it doesn't exude the "wow" factor other EVs do, it has great range, decent power, and a reliable track record (minus the LG chem battery debacle). It was also incredibly affordable for a new electric car. The 2023 Bolt EV started at $27,495 and qualified for the $7,500 point-of-sale incentive. This meant one could walk away with a brand new EV for $19,995 plus whatever dealer fees there were. But today, used Bolt EVs are even less expensive.
Perusing online car shopping websites, one can find numerous used Chevrolet Bolts for around the $15,000 mark with between 45,000 and 70,000 miles. And these $15,000 Bolts are the updated 2022 and 2023 models, offering a refreshed interior and exterior. These low prices are primarily due in part to Hertz offloading a bunch of its inventory. Of the 609 refreshed Bolt EVs listed on Cars.com, only about 100 are non-fleet models.
A Hertz car sales center in Charlotte has a 2023 Bolt listed for $14,499 with 66,000 miles on the odometer. This is a base LT version (as are most ex-rentals), so it's a no-frills ride. Without the tax credit, this Bolt EV depreciated around 47.3% in value. Considering the mileage, the depreciation isn't crazy, but it's nevertheless a highly affordable ride now.
Those who want to be in the upper echelon of the Chevrolet Bolt community should consider opting for the 2LT model. These are a little more expensive, though not by a massive margin. A Florida-based dealership is selling a 2023 Bolt EV 2LT for $17,990 with just 24,643 miles. This 2LT probably cost $32,000 when new, so it has lost around 45.1% of its initial value.
One should note that the 2023 Bolts do not qualify for the $4,000 EV incentive. That's because they are too new. To qualify, an EV must be at least two model years old. More interestingly, it seems like tax credit-qualifying 2022s are priced around the same even with the incentive.
The Chevrolet Bolt is an affordable and attractive EV option regardless of the year. But is it the best choice in this price range?
Chevrolet Bolt: Tech Specs
The Chevrolet Bolt EV's best (and most controversial) attribute is its powertrain. On the good side, the Bolt has a 66-kilowatt-hour battery pack that delivers a healthy EPA-estimated range of 259 miles. In our 70 mph range test, contributing editor Tom Moloughney recorded an impressive 260 miles. That alone is a big deal. Based on our previous range tests, that's more real-world miles than the 2022 Rivian R1T with all-terrain tires, Porsche Taycan 4 Cross Turismo, Kia EV6 GT-Line AWD, and BMW i4 M50. Not bad.
That brings us to the bad, which is the Bolt EV's poor DC charging capabilities. There's no other way to put it: the Bolt's fast charging speeds aren't actually fast. With a peak speed of 50 kW, the Bolt is one of the slowest-charging EVs on the market—which is one of the reasons General Motors phased it out to replace it with a newer upcoming model that has faster charging.
In our testing in 2022, the Bolt EV took 73 minutes to go from 10 to 80% state of charge. On the other hand, the 2022 Model 3 RWD takes around 35 minutes to charge within the same levels.
While the Bolt EV is not ideal for timely journeys, it excels in local driving. It is incredibly efficient around cities (securing above 4.0 miles per kilowatt-hour), and it packs a decent punch in terms of power. The front-mounted electric motor makes 200 horsepower and 266 lb-ft of torque. The setup is good for a zero-to-sixty run of 6.5 seconds, giving the Bolt plenty of power for a 3,625-pound compact hatchback. Due to the front-wheel-drive setup, the Bolt occasionally struggles for traction when accelerating in inclement weather.
Which Trim Should You Get?
Chevrolet offered the Bolt EV in two trims: 1LT and 2LT. The 1LT variant was the entry-level model and it didn't have a lot of features to offer. It comes with an 8-inch digital gauge cluster, a surprisingly responsive 10.2-inch center display with wireless Apple CarPlay, LED head and tail lights, remote start, dark gray cloth seats, and a six-speaker sound system that doesn't sound terrible. Standard safety features included automatic emergency braking, front pedestrian braking, forward collision alert, and lane keep assist (no centering functionality.)
GM sold two packages for the 1LT version: the $495 Driver Confidence and the $995 Comfort and Convenience Pack. The Driver Confidence package featured rear parking assist, rear cross-traffic alert, and a blind spot monitor. The other package came with an eight-way power driver's seat, auto-dimming mirror, heated front seats, and a leather-wrapped heated steering wheel.
The $30,670 2LT model featured everything in the 1LT with both packages, plus perforated leather seats, single-color ambient lighting near the dash, painted wheel inserts, and a power passenger seat. There's a $695 Infotainment Package that comes with a wireless phone charger, a Bose 7-speaker audio system, and rear center console USB-A and C ports. Adaptive cruise control is also extra, though it costs just $375.
The 2LT Bolt EV actually came well-equipped considering its price point. The top trim Nissan Leaf SV Plus still has cloth seats and no premium audio—though Nissan's EV does have more comprehensive automated driving assistance capabilities.
Any Areas Of Concern?
The Chevrolet Bolt is an overall reliable electric car. It's a tried and tested product that uses GM components. Higher mileage examples have some issues with control arms, but the electric hatchback tends to be pretty dependable. The good news is that if something does go wrong (outside of the high-voltage system), it's just a Chevy, and the repair shouldn't break the bank.
Another thing to consider is that a lot of the cheap ones are ex-rentals. It's fair to assume they've been put through their paces more than others. When test driving one, one should ensure there are no abnormal vibrations and creaks from the front axle area. Due to the high torque, there could be wear on various components like control arm bushings.
Nevertheless, for buyers going directly through Hertz, its inventory is pre-inspected. All cars have a 12-month or 12,000-mile powertrain warranty.
The infamous battery recall affected the 2017 and 2022 models. To fix the issue, Chevrolet required certain vehicles to be outfitted with new software; others needed entirely new battery packs. 2023 models are unaffected by the issue.
Should I Buy One?
The Chevrolet Bolt is an impressive electric car that punches above its price point. The 2LT is particularly notable as some examples come with Bose audio, leather seats, and adaptive cruise control. Pair this with a real-world range of 260 miles, and the Bolt is quite the value proposition.
Still, it's not a perfect car. The Bolt EV suffers from poor DC charging capabilities, making it not the best option for long road trips. Though with a range of 259 miles, you can get pretty far without charging. With this considered, the Bolt EV might have difficulties being someone's only car, also considering its compact form factor.
With the $4,000 EV incentive, many used Model 3s are falling within the $15,000 to $16,000 price range as well. Dynamically, the Model 3 is a much more engaging driver's car. It also has more space and far better charging capabilities. But despite the Model 3's many merits, all of these have much higher miles, usually above 100,000. And it’s worth noting that the Bolt is no slouch in the fun department either; it handles well for its size and its instant electric torque means it’s surprisingly entertaining on the right road.
Regardless, the second-hand EV market is where the action is happening. And the 2023 Chevrolet Bolt EVs going for $15,000 is just one signifier. It's one heck of a deal, and debunks the argument that electric cars are for the one percent of car buyers.
Andrew Lambrecht is a contributor at InsideEVs and an industrial engineering student at Clemson University. In addition to InsideEVs, Andrew writes for Forbes Wheels and Business Insider, covering the transportation sector.
