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Thread: If you've ever thought about buying an electric car ...Please read !!

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    Member JaxRed's Avatar
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    If you've ever thought about buying an electric car ...Please read !!

    I'll update this later today (Saturday). Getting late right now. I've had a couple threads here about living with my electric car. I've had two. Both Nissan Leafs. Well I've traded in the second Leaf for a Chevy Bolt. I fricking love this thing.

    I got a GREAT price. In part because I was a Costco member and they had a deal where you could get an extra $3,000 off if you were a Costco member. That deal expired April 30.

    However, they have a new offer starting June 1. They haven't said what it is, but they show a 2022 Chevy Bolt in the ad. If they work this deal like they have in the past, you had to be a member prior to June 1st.

    There's a lot of moving pieces, but you might be able to score a new Chevy Bolt for less than $20K.

    A Costco membership can be bought online for $60. Mine just saved me $3,000. If there's any chance you might be interested in an electric car, I think $60 is a pretty cheap investment.

    Details later today......
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    Member JaxRed's Avatar
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    Re: If you've ever thought about buying an electric car ...Please read !!

    So here's the deal. The Chevy Bolt (259 miles range) is set to come out with a Generation 2 model any day now. Literally. The models might show up in showrooms this weekend. Nobody knows for sure. We know they have started shipping to dealers. The Chevy Bolt is NOT eligible for the $7,500 tax credit. GM sold 20OK Bolts and Volts and the tax credit has expired for them (and Tesla).

    Because the Bolt is being updated and is no longer eligible for tax credit, GM has been heavily discounting the existing models, to clear them out. Especially the 2020. There is no appreciable difference between a 2020 and a 2021. The 2nd generation is a 2022.

    In April I was able to get a top of the line, fully loaded 2020 Bolt Premier, sticker price $44,285 for $24,755. It would have been $27,755 (still a good price) but Costco was running a special that if you were a member before the offer started you could get an additional $3,000 off.

    With that offer gone, in May, Chevy is still discounting 2020's. This week I saw an LT Model for $25,000 (sticker price was about $39,000). Someone bought it Friday afternoon.

    Here's the wrinkle in time. Congress has started working on a new bill to increase the credit for electric cars. Starting in January of 2022, it would be $12,500 but $2,500 of that is likely to be chopped off leading to a $10,000 credit.

    But in addition, it removes the limit of the credit for GM and Tesla effective May 24th. So the $7,500 credit would be back from May 24th to Dec 31st. If that retroactivity clause stands, the guy that bought that Bolt for $25K on Friday will end up paying $17.5K. Because for a brief window (till June1) you might get the credit, and reduced prices from GM because there is no credit.

    No one knows what GM will do for credits come June 1st. Will they extend them as is, will they increase them for 2021s to match the 2020s? Will they drop them altogether? My guess is they extend them for 2020s and maybe 2021s get a touch more to be almost like 2020's. Since everything is still conjecture about the tax credits at this point.

    GM is reducing the prices of the Gen 2 Leaf. Gen 1 starts at $36,500. Generation 2 has 2 models, and they start at $31K and $33K. I peeked at the $31K model and there were about $2K in options I would choose.

    I assume with tax credits in effect and lower prices, there would be no GM incentives. So a $33K 2022 in July would be a net $25,500. In January it would be a net $23,000.
    If you can still get a $25K Gen 1 in June/July it would be net $17,500.

    So lots of possibilities..... and add this into the equation. Costco now shows a new promotion starting June 1st. They don't say how much and they don't say on what cars. But the ad is showing a Gen 2 Bolt. Will it be only for Gen 2? Will it be all new Bolts? Will it be $3,000? No one knows.

    The Costco offer will run from June 1 to Aug 2. Normally when they run a special like this you had to be a member before the offer started. Memberships are $60. If there's the slightest chance you might be interested in a Bolt in next 2 months at discount prices. I think buying the $60 membership is a no brainer. It saved me $3,000. You can even do it online. Don't have to visit store.

    I'll be here after June 1 to say what the GM and Costco deals for June are.....
    Last edited by JaxRed; 05-29-2021 at 09:18 AM.
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    Member JaxRed's Avatar
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    Re: If you've ever thought about buying an electric car ...Please read !!

    The Costco deal is out. It's $3,000 for the 2020 or 2021 Bolt. (in addition there is $1,000 on 2022 Bolt and $2,000 on Volvo CX40). Since the GM offer is thru June 1st. You could if you acted today get all the GM offers of about $12-13K AND the Costco $3k and MAYBE get the $7,500 tax credit.

    I'll let you know tomorrow what the post-June 1st deals are.
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    Member JaxRed's Avatar
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    Re: If you've ever thought about buying an electric car ...Please read !!

    The June Chevy incentives are out, and they chopped $2000 off. So basically you get $10,000 off the sticker. Since most Bolts are about $38K that brings them down to about $28K. If you were smart and did the Costco membership that brings it down to $25K.

    Now $25K isn't a bad price, but is the $7,500 tax credit holds it's May 24th date it would be about $17,500. That's pretty sweet. If you feel lucky.
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    Member JaxRed's Avatar
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    Re: If you've ever thought about buying an electric car ...Please read !!

    I pulled the trigger and bought one today. Price before TTL.... $23.889
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    Member Sea Ray's Avatar
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    Re: If you've ever thought about buying an electric car ...Please read !!

    Quote Originally Posted by JaxRed View Post
    I pulled the trigger and bought one today. Price before TTL.... $23.889
    Congrats. I love buying cars. It's very exciting. Tell me, what do you do with your "old" electric cars? Do they have any resale value?

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    Member JaxRed's Avatar
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    Re: If you've ever thought about buying an electric car ...Please read !!

    I traded my 2018 Leaf in on the first Bolt I bought. Got $17.3k from Caravana. No trade in on second one.

    An electric that that a tax credit associated with it will show a lot of depreciation immediately.

    But electrics without a credit retain almost all their value. Used Teslas cost essentially the same as new ones.
    Last edited by JaxRed; 06-07-2021 at 08:36 PM.
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    Re: If you've ever thought about buying an electric car ...Please read !!

    Here's what a gasoline free garage looks like

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    Re: If you've ever thought about buying an electric car ...Please read !!

    Always like to see Florida tags with the county name on them.
    Go Gators!

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    Member JaxRed's Avatar
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    Re: If you've ever thought about buying an electric car ...Please read !!

    Last gas purchase.....June 3rd. (My anniversary so it will be east to remember)
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