It’s not a dealbreaker.
For many, Costco heralds the arrival of free samples – at least pre-pandemic – and great deals on common items. CarsDirect recently reported that the wholesale retailer dipped its toe deeper into the automotive market, offering a promo on the Chevrolet Bolt EV. The deal offers the chance to lease the vehicle for as little as $107 per month.
According to a dealer bulletin, all Bolt purchases – whether you plan to buy or lease – will also include a $3,000 Costco member bonus. We’d be remiss not to mention that this opportunity only applies to the remaining 2020 and 2021 models.
That all sounds fantastic, but like many things in life that sound too good to be true, there’s a catch. Unlike previous discounts, the latest only applies to Bolt LT vehicles with DC Fast Charge. The $750 item allows you to get roughly 100 miles of range in just 30 minutes. However, even with fast charging included, the terms of the lease remain unaltered – $107 for 36 months with $107 due at signing. Yes, that works out to an effective cost of roughly $110 per month.
To offer a broader perspective, Costco’s deal brings about $10,000 of savings over the length of the lease, compared to prior deals. While that’s all well and good, there are a number of other options for those looking to buy a Bolt EV.
For prospective buyers, Chevy is continuing to offer an $8,500 rebate on all Bolt vehicles that you can boost to $11,500 with the Costco bonus. CarsDirect also reports that the American automaker is offering zero percent APR for 84 months on the 2020 Bolt plus $7,000 in GM Down Payment Assistance. As this process tends to get complicated in a hurry, we’d recommend going to your local dealership to see what they can work out.
save over $3,400 on average off MSRP* on a new Chevrolet Bolt EV