Chevy Adds 0% APR Deal On Used Bolt & Volt Plug-Ins

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Senior Pricing Analyst

As CarsDirect’s resident pricing analyst, Alex offers must-know analysis of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured in publications such as Car and Driver, Motor Trend, Automobile Magazine and Autoblog.

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, Senior Pricing Analyst - January 12, 2021

Consumers looking to buy a quality plug-in car stand to get an unbelievable deal in January 2021. According to a bulletin sent to dealers last week, Chevy is offering 0% APR for 72 months on factory-certified used Bolt EVs as well as the Volt PHEV. This is the sort of offer we typically see limited to a brand's new car lineup.

Through February 1, Chevy is offering zero-interest financing on certified pre-owned versions of its two most well-known plug-ins. New, the Bolt currently starts at over $37,000 before incentives. In the case of the Volt, which ended production in 2019, the plug-in hybrid carried a base price of over $34,000 with destination.

Used, both cars can be a stellar value due to the nature of the pre-owned plug-in market. For example, a local dealer in Los Angeles' South Bay is advertising a factory-certified 2017 Volt LT at just $13,995. With 0% APR for 72 months through GM Financial, well-qualified buyers stand to save big when buying right now.

On a $13,995 vehicle, a 6-year loan at 0% interest would come out to roughly $194/month before taxes & fees. With a 20% down payment, the cost would potentially fall to just $156/month. The model year in question has an EPA fuel economy rating of 106 MPGe and is capable of 53 miles on electric power (420 miles overall).

Like other certified Chevys, the car comes with a 12-month limited bumper-to-bumper warranty, a 6-year limited powertrain warranty, and other benefits like roadside assistance, two free maintenance visits, and a 172-point inspection. Having said all of that, we think there are some important details worth knowing about.

First, the deal is limited to factory-certified cars. Considering not every vehicle is going to be certified at your local dealer, this could severely limit your choices. There's also the fact that dealers can certify cars using their own standards, and dealer-certified models aren't eligible for factory CPO incentives like this one.

Shoppers should also be aware that Chevy has brought back crazy APR deals on its new car lineup. As we reported last week, 2020 Bolts are eligible for 0% APR for 84 months plus $7,000 in down payment assistance. That's an unprecedented deal that you can make even better with a $750 conquest bonus for switching brands.

While used cars can be a great value for the money, plug-in incentives like the $2,000 California Clean Vehicle Rebate and $1,500 Clean Fuel Reward are limited to new vehicles. That could result in double-digit savings of over $11,000 plus zero-interest financing for up to 7 years on the Bolt. But that's not all.

We recently learned that GM Financial has brought back a 120-day payment deferral on its new car lineup. If you're eligible for every possible incentive, this could make a solid case for choosing new instead of used. We recommend comparing your options carefully with local dealers before making a decision.

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, Senior Pricing Analyst

As CarsDirect’s resident pricing analyst, Alex offers must-know analysis of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured in publications such as Car and Driver, Motor Trend, Automobile Magazine and Autoblog.

Follow On: Twitter

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