3 Reasons You Should NOT buy a New Chevy Bolt

Hey Ryder Car Guy, today I want to talk to you about why you

should

n't buy a Chevy Bolt and to help me prove that I have my own Chevy Bolt that debuted in 2017. In my opinion, the Bolt is kind of the next evolution. step for the

chevy

volt of course the conversion to all electric no longer relying on that old annoying dinosaur goo since then they have remained largely unchanged until the upcoming 2022 model year with about as much interior space as a nissan At almost three times the cost and overall shape of a miniature Toyota Privia, it makes you wonder why anyone would buy one of these, I think to find the answer you simply need to drive it when you first get on the ship that greets you. quite a futuristic feel from the center console that appears to be suspended in the dash descending towards your knees to the fun geometric pattern on the dash and of course the two-tone asymmetrical seats with contrast stitching, but like most cars electric cars, it really starts to seem futuristic when you start driving it now, the first thing people notice when driving an electric car for the first time is how incredibly quiet they are, the

bolt

runs on a quiet motor, it definitely fails just with the general noise of the road, the name.

The goal of the game with electric vehicles is of course to reduce weight, the lighter the car the greater the range, so unfortunately there are definitely some sacrifices now without turning this into a review of what it's like to drive a car electric. Imagine driving an electric car. golf cart, except you don't get that kind of feeling of freedom without having doors and windows around you and you can't drive it after four too many beers. Of course, you can steer with one foot when you put the engine into regeneration. mode and completely lacks gears, so all of that, combined with, of course, the ability to ogle people filling up their vehicles as you drive past the gas station, really gives this car that kind of futuristic range feel on the

bolt

.

It's really no joke, most modern electric cars are getting better at range, but I'm coming from a used 2013 blade that I had back in the day when those types of vehicles were getting like I don't know, maybe a hundred miles if I had Good luck between 60 and 80 when driving regularly, especially if you live somewhere very hot or very cold like I do. I live in Orlando, where you always need to have the climate control on if you want to make it even remotely tolerable. drive the vehicle, so what is this

chevy

cruze with a built-in electric motor with a side of superiority?

Well, that will be our number one reason not to buy a Chevy Bolt. These things are tremendously expensive to show you that we are going. Take a look at my window sticker, the toro lt, which will have all the basic features you'd expect from a car in 2020, costs six hundred dollars, that's four hundred dollars more than the base price of a mercedes gla 250, but no one buys. just a base model there has to be add ons so after the DC fast charger and a couple of driver convenience packages and the price of this bull ended up being over 40k for that kind of money you can get a bmw an electric vehicle, we are going to I will return you 7,500 8,000.

Well, what do you think Chevy will do in return? They will simply turn around and increase the price of your car by eight thousand dollars. If you don't think that's true, go ahead and search the web. Therefore, the subsidies are stopping and, magically, Chevy for the 2022 model year is lowering the price of the vehicle by more than five thousand dollars. It's probably not a coincidence, so you're probably thinking why the heck I bought one. Actually, I did. No, and we'll talk about that in a moment. The next reason why you

should

n't buy a Chevy Bolt is a bit obvious, but I think we should talk about it even as fast chargers seem to be popping up everywhere and of course, the much longer range of these newer EVs yet. they are not a big main car as an example like i said i live in orlando florida and my whole family lives in ann arbor michigan in case you are not familiar with our wonderful United States they are very far away sometimes you can't or just don't You want to fly, sometimes you want to have your vehicle when you travel, so you have plenty of space to take things home and go visit. family for extended periods now make an electric car almost unviable today, the only exception would really be Tesla's supercharger network, but guess what it certainly can't be used with anything other than a Tesla, so the only Another option is an internal combustion engine. that will get us from Orlando to Ann Arbor in one go without having to charge, so for me this is one of the four vehicles, so if I want to go get a car and drive to Michigan on a whim, I can get it. behind the wheel without a second thought in one of my other cars, but that's not the case for everyone, so unless you're a city dweller who barely drives long distances and lives within a certain radius, then it might be A good choice for you, but in general Americans are road warriors, we like to just pack up our car and go wherever we want to go, so where does an Eevee fit into the average American family?

Well, I can think of two really good places, first and foremost. If you commute and have a relatively short distance to work - you're not driving 100 miles both ways - then you'll be looking for a great option in an electric vehicle: install a Level 2 charger in your home. and ahead you will never have to fill up with gas and it is just your commuter car. Another great option that I think a lot of people overlook is that I think these would be great first cars for teens in general, when you first get your license you're just going. anyway, around town maybe you go to school and back or to work and back and you don't have to worry about saving money on gas, they come in a variety of funky colors, they look and drive in a futuristic way and i I would.

I think parents would appreciate the knee-cutting feeling when you drive these things, you can't go very far on a single charge. I certainly can't speak for the current generation of teen drivers. But I can say for myself that I would have loved something like this as my first car. Now let's get to the last and possibly the most important reason why you shouldn't buy a Chevy Bolt. There is an intrinsic defect in the manufacturing of a vehicle that runs solely on batteries. and that flaw is the fact that batteries simply don't last forever, if the wonderfully and faithfully honest company Apple has taught the world anything it's that no matter how much you try to hide it, batteries have a lifespan and it's usually only for a A couple of years after those two years degrade, batteries lose their ability to retain energy and, in a vehicle, the amount of energy a battery can hold corresponds directly to how far a vehicle can drive before having to recharge it, so how does that translate into resale value?

Well, it's not good now, the value of electric vehicles tends to plummet, not only do they plummet from the start, which we'll talk about in a minute, but also during the first two years of ownership, mainly because who wants buy a five, six and eight year old vehicle? Even when you know that batteries have a shelf life, if you buy an eight-year-old electric vehicle, even if you buy eight-year-old batteries, you won't have anywhere near the range you had before and you'll be prone to general battery problems, replacing these Batteries is very expensive, so if you are looking to sell an electric vehicle with older batteries, the person buying it should take that cost into account.

I kind of compare it to buying a very old, high mileage normal car. or an internal combustion vehicle for example, I just bought a 15 year old titan that has 215,000 miles on it. I bought that car knowing that I will have to invest a lot of money in it to keep it running, the only difference is that electric vehicles get up to that point, that type of useful life comes to an end much sooner than vehicles with combustion engines internally, the other aspect of depreciation that I mentioned a little earlier and that is the tax credit, so again if you are inflating the price of your vehicle simply because it is subsidized by the government, by the time that vehicle leaves the lot, you can forget about all the subsidy on the return value, so by the time you go to sell it, forget about all the money that you got on your tax credit that will be gone unless you get your tax credit. and then immediately put it on the note of your new bolt, then you will lose that money when you go to sell it, so it's a quirky commuter with a futuristic feel, but it's still priced like a well equipped Volvo S60, so who? should you buy a chevy bolt, well the answer is really no one but if you want this bright orange golf cart in your driveway there is a practical and affordable way to get one and that is to lease it of course now i generally don't recommend leasing cars in many scenarios, it can be a big waste of money, but that's not really the case with electric vehicles, between federal tax credits and state tax credits in some places, and incentives for dealers.

Leasing an electric vehicle can save you a ton of money. would consider a car too expensive and make it affordable for the average person, so I'll walk you through two different scenarios here. I'm going to talk about one where you of course buy the car using the msrp and then trade it in or sell it. within a couple of years or the other scenario is to lease and of course meet the term of the lease and then just trade it in after that let's start with the purchase so if we go for our Windows decal that I showed you before, that's an msrp of forty thousand two hundred and sixty dollars in my particular area, the tax is seven percent, so that's another almost three thousand dollars for a total of forty-three thousand seventy-eight dollars.

Now, if you're like most Americans, you're not going to pay that. In cash, you are going to finance it, so you are paying almost eight hundred dollars a month. If you have excellent credit, you have a standard five-year term, and you have a modest down payment. Now let's fast forward a couple of years and three. to be exact and say you are ready to trade in or sell this car that you bought well, we have the luxury of talking about a car that has been around for four years so I can go back three years and price the exact same model. level as I currently have to see roughly what it will be worth in three years, so I jumped into the Kelly Blue Book and am looking at the private value of a bolt in very good condition with 30,000 miles and three years.

The reason I chose them is because on my lease I'm allowed to drive 30,000 miles and I have to change it in three years and that number is absolutely abysmal. Kelly's blue book is between 17 and 18 7. So if we go back to our numbers and assume that we were able to exchange it for eighteen thousand dollars, which means that the cost of ownership was twenty-five thousand seventy-eight dollars during that three-year period years, but remember we also got a tax credit, I assure you. When those three years are up, you'll forget the tax credit ever occurred, but we'll put it in the numbers because of course you wouldn't have gotten it unless you bought this car.

Note full credit. of 7,500 and your total cost of ownership for those three years ends up being 17,578 to put it in perspective, that amount can totally buy you a new Kia Forte. Now let's compare that to leasing. There are now many different lease offers. there and Florida isn't known for particularly good lease deals, they don't really have any state rebates that we can access and we were still able to get zero down and $330 a month, that lease is for 36 months and a thousand miles , so the total cost of ownership three hundred and thirty dollars a month for thirty-six months is only eleven thousand eight hundred and eighty dollars, that is a difference of fifty six hundred and ninety-eight dollars and in the end you don't have to deal with the trade-in.

You don't have to deal with individuals who sell it, you just return it and that's it. If you decide to trade it in instead of selling it the disparity is even greater with a difference of 76.90, plus when you lease you have the car is in its prime it is new it is still under warranty it is usuallyIt's under warranty for most of the lease, if not the entire lease, depending on the brand you choose, and the best part is you get the car back. that's lost a lot of value that you don't even have to worry about.

I feel like we got a great lease deal, but if you do your research online, you'll find people who got better deals than us. In some extreme circumstances, there are people who may only pay a couple hundred dollars for the entire lease, which will be a combination of all the different incentives and credits that you can get through the federal state government and of course the own dealer. Just like leasing is a great option, especially for electric vehicles, it really helps with depreciation and you don't have to worry about maintaining a car that's going to go down in value and raise concerns about the longevity of the vehicle when you try it. sell it so when all is said and done I think the bolt is actually a great option for a lot of people you can get a new EV for a really high affordable price and you don't have to worry about trading it in or selling it when you've finished and the best part is that with the way electric vehicles are going in the next three years, this will feel old.

I want to move on to something else. I hope you enjoyed this video. If you did, go ahead and hit the like button and of course subscribe for more content like this. Thank you very much for watching. See you at the next one.