2020 Chevy Bolt Leases Are Dropping as Low as $49/Month with New Models Coming Soon

Chevy’s electric hatchback was never a hot seller, but now dealers need to make room for the updated versions.

2020 Chevrolet Bolt EV
Frenak/Chevrolet

The 2022 Chevrolet Bolt EV and EUV models were revealed on February 14, and all signs are pointing to deep discounts on new 2020 and 2021 versions. Some may be enough to make it a more attractive proposition to some buyers who might not have ever considered the Bolt otherwise. One dealer in the Bay Area is going so far as to market a jaw-dropping $49 per month lease for a 2020 Bolt.

Dublin Chevrolet’s lease deal is the lowest we’ve seen so far, and some caveats are written into the lease. First, you’ll have to put down $3995; the lease includes 10,000 miles per year and costs another $.25 per mile over the limit; and tax, title, license, and dealer fees are extra. You also have to have an address in Alameda County, California. Since the median cost for a home is nearly five times the number as the rest of America, this could be a welcome windfall.

Screen Cap/Dublin Chevrolet

When the 2022 models hit dealership show floors this summer, the base price will be $31,995 for the EV and $33,995 minus state, local, or utility incentives. Chevy took five grand off of the price from the 2021 model to make the 2022 version more attractive, and the new model fits snugly into GM’s stated plan to launch 30 new EVs globally by 2025. On top of the price reduction, Chevrolet announced a partnership with Qmerit to cover the basic installation costs of level 2 home charging equipment for new Bolt EV and Bolt EUV customers. The benefit includes all the materials needed to install a NEMA 14-50 outlet on a dedicated 50-amp circuit in your garage.

Honestly, though, if you’re looking at a Bolt EV and want to take advantage of the price cuts, take a closer look at some of the buying options. CarsDirect referred to a Chevy dealer bulletin sent to dealers on February 9, for example: " ... all 2021 Bolts now offer an $8,500 cash incentive. That's 70% more than the $5,000 rebate from earlier this month. The change rolled out days before the brand's unveiling of the Bolt's 2022 redesign." Plus, you might qualify for Chevrolet’s Conquest rebate if you own or lease a 2006 or newer non-GM passenger car or light duty truck. California’s $1500 Clean Fuel discount applies to this particular deal, bringing the total cost of a 2020 Bolt between $20,000 and $25,000, roughly.

The Bolt may be a little awkward-looking, but it’s a really solid entry-level EV whose plummeting price could make it an intriguing option for someone who might never have considered an electric car. Worth noting that real-world tests show it’s very capable of going well beyond the EPA-rated 259 miles of range, too. If you have your eye on a Bolt, be sure to compare apples to apples, including the money down, mileage, and state rebates to see what works best. The 2022 EUV includes more room, Super Cruise, and the installation of a power source. On the other hand, you might want to take a look at Ford’s Mach-e; Green Car Reports broke down the competitive rebates for both.

Just about every manufacturer on the market is ready to do battle in the EV market. This one is going to be fierce. 

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