Chevy offers $1,000 cash rebate on Volt
With gas prices well below $2 a gallon in most of the country, Chevrolet is offering $1,000 cash and other incentives on the 2017 Chevrolet Volt in 11 states, just as the second generation of its extended-range, plug-in car begins arriving at dealers, according to CarsDirect.com.
The cash rebate is being offered in California, Oregon, New York, New Jersey, Connecticut, Massachusetts, Vermont, New Hampshire, Maine, Rhode Island and Maryland.
The Volt LT carries a starting price of $34,095, and the Premier package starts at $38,445. What consumers actually pay will be reduced by federal and, in some cases, state tax credits.
But most people who want a Volt will lease it. Chevrolet has not yet announced lease terms, but on the 2016 Volt leases were available for $299 a month for 39 months with $500 due at signing.
Alex Bernstein, senior pricing analyst for CarsDirect.com, said GM Financial is reducing the capitalized cost of leases by $2,300 nationally and an additional $2,250 in the 11 states where the $1,000 cash rebate is available.
Bernstein also said California, the state where more hybrids and plug-in electric vehicles are sold, is restructuring its rebates for plug-in vehicles starting in March.
Under the new policy, consumers whose income is less than three times the federal poverty guideline ($35,640 for individuals, $60,480 for a family of three) will be eligible for $3,000 in additional price reduction.