The Chevy Bolt will start at $29,995 after federal tax credit
The Chevy Bolt electric car will start at $29,995 after a federal tax credit of $7,500, GM announced today. For almost a year, GM had been saying that the car would start under $30,000, so it made that mark — just. That makes the Bolt the first electric car to achieve more than 200 miles of range for under $30k.
238 miles for $29,995
The catch is that buyers will need to pay at least $7,500 in federal income tax to receive the full benefit of the tax credit, as it is not a refundable credit. The standard disclosure about checking with your tax professional applies here, so it’s best to do your research before buying. For those looking to lease, the credit will get rolled into the price of the lease as the leasing company will receive...