In the midst of supply chain issues and low interest rates driving the average new car transaction to yet another all-time high – now at a lofty $42,258 – we found several recently introduced electric vehicles bucking the trend with factory rebates, dealer discounts, and attractive lease terms…
2022 Chevrolet Bolt EV and Bolt EUV
One of the most significant changes in the redesigned 2022 Bolt EV is its price. With a starting MSRP of just $31,995, this 259-mile five-seater that zips from 0 to 60mph in 6.5 seconds is priced $5,500 lower than its similarly capable predecessor. The Bolt EUV offers a slightly larger form factor for $2,000 more, albeit at the expense of range and performance. The $33,995 five-seat crossover can reach 60mph from standstill in seven seconds and will travel 247 miles on a full charge.
Chevrolet’s incentives on the Bolt EV/EUV siblings have changed since last month. Bad news is that the $1,000 Costco member incentive expired on August 2. Good news is that in its place is a $500 factory rebate that applies to everyone. Really good news is that Chevy has sweetened their national lease offers significantly for this month – we’re talking over 80 bucks a month cheaper – with effective costs for a three-year term plummeting to $316/month on a Bolt EV and $337/month on a Bolt EUV.
Some dealerships are already offering enticing discounts on the redesigned Bolt EV. Weber Chevrolet in Creve Coeur, Missouri, is advertising a $3,500 off on select 2022 Bolt EV and EUV in stock, which currently represents one of the deepest dealer discounts found during our latest nationwide survey of Chevrolet dealers. But there is a catch – these vehicles have been repaired after suffering damage from a recent hailstorm. If you prefer to buy an example with the original pristine factory paint, Quirk Chevrolet in Massachusetts is matching that $3,500 discount on every 2022 Bolt EV in stock, all with an MSRP of $33,435. Combining that discount with the state’s $2,500 MOR-EV rebate knocks the price down to $27,435 plus tax and license. Only four of these vehicles are left on the lot, which is much less than when we last checked, indicating that their Bolt EV inventory is attractively priced. Their Bolt EUV inventory is an order of magnitude larger and therefore has a wider variety of options and colors, with each EUV is currently discounted by $2,500. That’s still a whopping $5,000 off MSRP after applying the MOR-EV rebate, enough to drop the cost of minimally optioned Bolt EUVs below $30K.
It’s much harder to find 2022 Bolt EV discounts on the West Coast. Most seem to have been selling at MSRP, and like Quirk Chevy back east, dealers that once had dozens of Bolt EVs listed in inventory are now down to single digits. Antelope Valley Chevrolet in Los Angeles County is the only dealer we found advertising a discount on the Bolt EV that’s over and above the $500 factory rebate. However, we found a number of California dealers with an abundance of Bolt EUV in stock, perhaps prompting three Los Angeles dealers – Martin Chevrolet ($2,660), Culver City Chevrolet ($1,640), and Antelope Valley Chevrolet ($1,859) – to list Bolt EUV discounts worth mentioning.
Californians may be missing out on the highest discounts, but they do have the best Bolt EV and EUV leasing opportunities in the nation. We found more than a handful of dealers in California that drastically undercut the factory lease terms on the Bolt EV and Bolt EUV. Fremont Chevrolet and Concord Chevrolet in the San Francisco area have the best advertised deal on a 2022 Bolt EV, a three-year lease with an average monthly cost of $237 before tax and license. Not far behind are Rydell Chevrolet in the Los Angeles area, Premier Chevrolet Carlsbad in the San Diego area, and Fremont Chevrolet in the San Francisco area with leases at an effective cost of about $247/month. These five dealers also have the best lease offers on the Bolt EUV, with effective costs that range from $249/month to $261/month. Fine print on each of these deals reveals the inclusion of a $1,500 lease loyalty/lease conquest rebate as well as California’s $1,500 Clean Fuel Reward point-of-sale rebate. So shoppers not currently leasing a qualifying vehicle can expect to pay about $40/month more than the advertised rates. Look for deals on a 2022 Chevrolet Bolt EV or Bolt EUV in your area.
2021 Volkswagen ID.4 Pro
The Volkswagen ID.4 Pro is an all-new five-passenger electric SUV with a starting MSRP of $41,190. Unlike the Chevrolet Bolt lineup, the ID.4 is eligible for the $7,500 federal tax credit, which drops its entry price down to $33,690. Currently offered in rear-wheel-drive only, the ID.4 boasts an EPA-rated range of 260 miles and has a cargo capacity of 30.3 cubic feet behind the rear seats. Pricing, range, seating capacity, and cargo capacity pit the ID.4 Pro directly against the $43,995 rear-wheel-drive Ford Mustang Mach-E Select with a standard range battery. Among the most significant trades for buyers currently cross-shopping the ID.4 and Mach-E is range versus performance – the ID.4’s 260-mile range is 30 miles farther than the range of a standard-battery-equipped Mach-E, but that Mach-E hustles to 60mph from a dead stop in 5.8 seconds – nearly two seconds quicker than the ID.4.
Currently there aren’t any unconditional factory rebates on the ID.4. However, Volkswagen does offer lease terms with an average monthly cost of $468/month, which lines up with the average monthly cost of financing a comparable Mustang Mach-E through their lease-like Ford Options plan. Not a screaming deal by any stretch of the imagination, but it may be perceived as a relative bargain for electric SUV shoppers eyeing Tesla’s Model Y that need its cargo capacity and interior space, but are willing to forego class-leading all-wheel-drive performance and range in order to save over 30% on a three-year lease. VW and Ford seem to be competing for abandoned rear-wheel-drive standard range Model Y reservation holders by setting their MSRP and lease terms very close to where the domestically discontinued standard-range Model Y left off.
Like the Mach-E, advertised dealer discounts on an ID.4 Pro are practically non-existent, but we did find a few worth mentioning. Safford VW in Virginia has the best deal in the nation with a $2,508 discount on an ID.4 in Pro S trim, followed by Automax VW in Texas ($2413), Thornton VW in Oklahoma ($1954), and Orr VW in Texas ($1754). We couldn’t find a single Volkswagen dealership in California advertising discounts, but there are quite a few Los Angeles and San Francisco area dealers with dozens of ID.4 in stock, so negotiating for a price below MSRP should be relatively straightforward. Check local VW dealers for ID.4 discounts and availability.
2021 Volvo XC40 Recharge Pure Electric
Good news! Volvo morphed the summertime $2,000 Costco rebate on its XC40 Recharge Pure Electric into an incentive of equal value that applies to everyone. Even better news is that we’re finding more dealers advertising larger discounts on this all-wheel-drive compact luxury SUV that seats five and sprints from 0 to 60mph in a quick 4.3 seconds.
Napleton Volvo in Indiana tops our list of XC40 Recharge deals with a $9,591 discount from MSRP, followed by Gunther Volvo in Florida with a $9,500 discount. Volvo Cars of San Antonio has an $8,985 discount for an XC40 Recharge that retails for $55,885, which means buyers able to take full advantage of the $7,500 federal EV tax credit can own this particular example for $39,400 plus tax and license. Check your area for deals on a Volvo XC40 Recharge Pure Electric.
2022 Nissan LEAF
In a physical sense, the Nissan LEAF really didn’t change much for 2022. What did change – in a big way – is its MSRP. After subtracting the $7,500 federal EV tax credit, the repriced LEAF just might give the 2022 Chevrolet Bolt EV/EUV siblings a run for your money. For example, a LEAF S Plus with its 226-mile range, 0-to-60mph time of 6.7 seconds, and MSRP of $32,400 could be had for as low as $24,900. That’s over $6,500 less than the cheapest 2022 Bolt EV.
But wait, there’s more. Nissan is also advertising a two-year, $248/month lease with $898 due at signing for a fully loaded 2022 LEAF SL Plus. That’s over $100/month less than their current lease offer an a 2021 SL Plus! Better yet, if you can live within the 149-mile range of a smaller battery and do without niceties that come with the SL trim level, Nissan’s two-year lease on the basic 2022 LEAF S is a mere $119/month, $769 due at signing. There is a catch, however – these amazing lease deals are available only to residents of the following east coast states: Virginia, Maryland, Pennsylvania, Delaware, New York, Connecticut, Rhode Island, Massachusetts, New Hampshire, Vermont, and Maine. Outside of that region, Nissan’s 2022 LEAF lease offers are much more expensive or, curiously for the West Coast – not even listed. Check locally for Nissan LEAF deals and availability.
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