GM offers Chevy Bolt EV with $4,750 discount in April, no payments for 4 months

In what GM is calling a coronavirus relief package, the company is discounting the purchase of a Chevy Bolt electric car by $4,750 in cash discounts, with 0% APR financing for 72 months. Qualified buyers won’t have to make any payments for 120 days.

The cash and discounts bring the price of the Chevy Bolt Premiere to $36,000 and the LT to $29,000. As of April 1, GM electric cars no longer qualify for a federal tax credit. However, state incentives still apply to make the deal even better. Check local dealers for discounted inventory.

While Electrek confirmed with GM that the 0% financing is for 72 months, it could be negotiable. JD Power wrote that the financing could be extended to 84 months. It also mentioned that the zero-interest deal for a 2020 Bolt EV included no money down, no security deposit, and no payment the first month.

Car dealerships are hurting for business during the pandemic. They are making it as easy as possible to pick up a new EV. Customers can make the purchase through GM’s “Shop, Click, Drive” initiative. Buyers find a new vehicle, choose options, and schedule delivery at home or elsewhere.

You pay tax, title, license, and dealer fees — and get the vehicle delivered to your driveway. Good credit is required, and delivery must be before April 30, 2020. The payment deferral does not apply to leases.

GM is also making its OnStar Crisis Assist services available to Chevrolet owners at no cost for a limited time.

Limited supplies?

GM on March 18 announced that it would shut its manufacturing operations in North America, including the Orion assembly plant, where the Bolt is produced. Megan Soule, a GM spokesperson, told us today:

We will resume production on Chevrolet Bolt EV when it is safe to do so.

She declined to comment about online reports of dealers not having any inventory of the 2020 Chevy Bolt. The combination of brisk sales in March and the production stoppage could be the cause.

A shopper in the Boston area was told that by a Chevy dealership that they “are out of Bolts on their lot and that they are unsure of when they will get additional ones due to GM stopping production. A rep quoted me at 6-8 weeks but also said that’s an estimate.”

After encountering the lack of new 2020 Bolts, the Reddit user started shopping for used 2017 Bolt, which sells for about 21,000 to $24,000 on models with less than 30,000 miles.

Electrek’s Take

The 2020 Bolt has an increase in range to 259 miles, a jump from the 238 miles offered before this year’s model.

The pandemic also caused GM to delay the rollout of feature enhancements, such as more comfortable seats and the availability of adaptive cruise control, until 2021. But the next model year will keep the same range.

So between that bump in range and the pandemic-related cash and financing offers, it’s worth the time for in-market EV buyers to check local dealerships for new Chevy Bolt deals and availability.