TMC is an independent, primarily volunteer organization that relies on ad revenue to cover its operating costs. Please consider whitelisting TMC on your ad blocker and becoming a Supporting Member. For more info: Support TMC

Friend Considering Chevy Bolt vs Model 3

Discussion in 'Electric Vehicles' started by danny, Jun 11, 2019.

  1. danny

    danny Administrator

    Joined:
    Aug 15, 2006
    Messages:
    1,135
    Location:
    California
    A friend of mine wants to purchase an EV with a range of 200+ miles. He likes the Bolt, but likes the Model 3 even more. However, he is not really a car enthusiast and ultimately cares more about the financials.

    I was helping him research, and I found some dealers in his area occasionally selling a standard Bolt LT for as low around $26,000 (before taxes and fees). This is a pretty massive discount over the MSRP and what it was selling for not long ago. So assuming he sells the car in 4-5 years time, he is wondering how much money he may save by going with the Bolt LT vs the Standard Range Model 3 at $35,400.

    So the question here is how much we think each car will be worth on the used car market in 4-5 years time. I would think the Model 3 will sell for significantly more than the Bolt, although used Model S' may compete with used Model 3's. The Bolt on the other hand will not likely be in strong demand IMO in 4-5 years time as GM comes out with cheaper long range EVs and Model 3's continue to flood the market. However, at around $26,000 (assuming he can secure that price), the Bolt has a lot less potential value to lose than a $35,400 SR M3.

    So at the prices, if the Model 3 ultimately costs say $3,000 more vs the Bolt once they are owned and sold theoretically in 4 years, I think that he would probably okay with that, however, if we are talking about a difference, wherein the Model 3 loses something like $6k or $7k more in value than the Bolt, then he may lean towards the Bolt, because while he appreciates the design, supercharger network, etc of Tesla, he just doesn't care enough to justify that kind of difference.

    I would appreciate your thoughts on what you think will be the difference in value lost between the Bolt LT at $26k and SR Model 3 at $35,400 in 4-5 years time.
     
  2. jcarp09

    jcarp09 Member

    Joined:
    May 28, 2019
    Messages:
    19
    Location:
    Lansing, MI
    Based on Elon's claims, the Model 3 should be worth more as it will be able to be part of the Tesla RoboTaxi Network, earning money for the owner, if that's something your friend is open to. Of course, he should not make his sole decision based on a claim from Musk.
     
  3. S'toon

    S'toon Knows where his towel is

    Joined:
    Apr 23, 2015
    Messages:
    3,377
    Location:
    AB
    People might be more reluctant to buy the Bolt considering its charging rate is only 50kw.
     
    • Informative x 1
    • Like x 1
  4. M3BlueGeorgia

    M3BlueGeorgia Member

    Joined:
    Dec 10, 2018
    Messages:
    306
    Location:
    Atlanta, GA
    Actually the true comparison is between the Bolt and the SR+ at $40K. I think the Tesla will hold its value better than the Bolt because its more use than just an extended range commuter car. Right now a 4 year old BMW i3 can be bought from Carmax for $14K and a similar aged Leaf for under $10K, and the Bolt will no doubt suffer the same fate.
    BTW: I see a used 2017 Bolt LT with 12K miles at Carmax for $27K, so not sure what configuration you are seeing new for $26K.

    The 2019 Bolt LT starts at US$35K and the Bolt Premium at $42K, and even with a discount both those would be pretty poor comparisons to a Telsa Model 3 SR+. If the Chevy dealer is really offering $8K off MSRP to move it, that perhaps tells you everything you want to know, or are they just playing pricing games with you?
     
  5. BluestarE3

    BluestarE3 Active Member

    Joined:
    Apr 2, 2016
    Messages:
    3,506
    Location:
    Norcal
    Did your friend test drive both cars? I sat in a Bolt EV and found the seats extremely uncomfortable after a few minutes. Didn't even bother taking it out on the road.

    That's too bad though. I had decided my next car would be an EV and the Bolt was a contender for me when it was introduced.
     
    • Helpful x 1
  6. danny

    danny Administrator

    Joined:
    Aug 15, 2006
    Messages:
    1,135
    Location:
    California
    Perhaps, but for the purpose of this thread, I am comparing the standard range cheapest Model 3 available to the Bolt LT.

    Yes the Bolt LT in theory starts at $35K, but it has been discounted heavily for some time, and on occasion can be gotten as low as around $26k. And yes, there are some used deals for $27k, perhaps relying on the fact that new deals like the $26k are not always available and not well known.

    Also, pretty much all LT configurations are the same. There aren't that many options that would really affect the value.
     
  7. S'toon

    S'toon Knows where his towel is

    Joined:
    Apr 23, 2015
    Messages:
    3,377
    Location:
    AB
    Note, there are other alternatives as well. Niro, Kona...
     
  8. Brando

    Brando Active Member

    Joined:
    Sep 27, 2016
    Messages:
    2,126
    Location:
    Bainbridge Island, WA
    Please buy the BOLT - GM needs the business.:cool::rolleyes:

    Test drive comparison?
    safety? the Bolt isn't that bad - only some +42,000 fatalities each year - how dangerous is your drive?
     
  9. --1--

    --1-- Member

    Joined:
    Apr 10, 2019
    Messages:
    45
    Location:
    Chester, VA
    :)I have both. The Bolt is solid, but I leased mine when there were no real discounts except for California. I started with a Prius Plug In, then BMW i3, Bolt Premier, and now a Model 3 Performance. Notice the progression. Check out my avatar.
     
    • Love x 1
  10. jgmartin

    jgmartin Member

    Joined:
    May 30, 2019
    Messages:
    30
    Location:
    Orlando, FL
    I can’t imagine looking at a model 3 sitting next to a bolt and saying ‘yep, I’ll take the boxy one’. It’d have to be at least one order of magnitude greater price difference.

    That said, if it’s just about getting the cheapest ev possible with a given range, they are giving them away. An acquaintance of mine just picked one up for right around 25k otd.
     
  11. jboy210

    jboy210 Supporting Member

    Joined:
    Dec 2, 2016
    Messages:
    1,339
    Location:
    Northern California
    Seems you are heading the correct direction. I see an S or X in your future.

    And Wow, Chester. Lived in Williamsburg and worked in Richmond for many years.
     
    • Like x 1
  12. PhatCat

    PhatCat Kisco Kid

    Joined:
    Jun 14, 2012
    Messages:
    379
    Location:
    Mt Kisco, NY
    Friends don't let friends drive ... Bolts.
     
  13. KerryOH

    KerryOH Member

    Joined:
    Jan 3, 2018
    Messages:
    92
    Location:
    Lower, Slower Delaware
    I test drove a Bolt before an MS and then an MX. I had a reservation for an M3 at the time. The Bolt was ok but felt like a golf cart on steroids. The MS was great to drive but I needed more room and the MX was “just right” as Goldilocks might say.
     
  14. Cheburashka

    Cheburashka Member

    Joined:
    Jan 29, 2018
    Messages:
    670
    Location:
    Los Gatos, CA
    Yeah I hear where you're coming from - I test drove a Ford Focus once and ended up going with a Lamborghini Aventador instead since it was "just right"
     
    • Funny x 2
    • Like x 1
  15. groovidad

    groovidad Living the Dream!

    Joined:
    Oct 19, 2018
    Messages:
    350
    Location:
    Ewa Beach, HI
    I offer this: 3, OTA updates. Bolt, no. Further, I never buy a vehicle thinking about my "re-sale" value. There are WAY too many variables that would impact the residual value in the future. My vote goes to the Model 3.
     
  16. Ocala.Joe

    Ocala.Joe Member

    Joined:
    Jun 4, 2019
    Messages:
    10
    Location:
    Ocala, Florida
    Your friend needs to help me out and buy a tesla using my referral code :)
    just kidding.
    Think of it this way, he is considering an EV, thats great! If he chooses the tesla, he will have the greatest charging network in the work with reasonable fees and reliability. I cannot vouch for any other charging network that can be used on an extended trip. This may be something you may be a friend to him or her and mention, they will thank you for over looking that huge detail. Have them plan a trip on abetterrouteplanner.com and see what an extended trip will cost them in time and money.
     
  17. mtndrew1

    mtndrew1 Member

    Joined:
    May 12, 2015
    Messages:
    728
    Location:
    Gardena, CA
    I find the Bolt to be a fine car with seats that don’t agree with me at all.

    I always advise those considering the car to take a magazine to the dealer and ask if they can just sit in the seat for half an hour. Five minutes in the car don’t give me any grief but more than 20 minutes or so in a Bolt and I’m in serious pain.

    The Bolt will be far less expensive and way more traditional than the Model 3. Some people are looking for a value play and the Bolt might fit that need. In my neck of the woods it’s not hard to find a Bolt for $10k off MSRP.
     
  18. Big Earl

    Big Earl Supporting Member

    Joined:
    Jul 12, 2017
    Messages:
    2,595
    Location:
    Springfield, VA
    #18 Big Earl, Jun 18, 2019 at 3:45 PM
    Last edited: Jun 18, 2019 at 3:56 PM
    If they have to offer such steep discounts on the Bolt when new, that should be an indicator that resale value will be very poor... think Nissan LEAF. In my opinion, they Model 3 is the better financial choice.

    The Model 3 might actually improve his outlook on driving. The Bolt almost certainly will not, especially the first time he goes to take a trip and spends a long time charging.
     
  19. Cheburashka

    Cheburashka Member

    Joined:
    Jan 29, 2018
    Messages:
    670
    Location:
    Los Gatos, CA
    The Bolt can be a better car than (in my experience) the Tesla Model S.

    One big advantage is being able to use Google Maps and Waze natively on the MCU.

    Another is reliability and dealer network.

    Another is that you can lease one for less than half of what a Model 3 would cost.
     
    • Funny x 1
  20. Fred42

    Fred42 Member

    Joined:
    Dec 24, 2018
    Messages:
    184
    Location:
    York County, PA
    The Bolt looks too much like a Spark for me to deal with.
    If he's serious about the Bolt, did he consider the Leaf? I see Nissan is still offering a $199/mo lease.
     

Share This Page

  • About Us

    Formed in 2006, Tesla Motors Club (TMC) was the first independent online Tesla community. Today it remains the largest and most dynamic community of Tesla enthusiasts. Learn more.
  • Do you value your experience at TMC? Consider becoming a Supporting Member of Tesla Motors Club. As a thank you for your contribution, you'll get nearly no ads in the Community and Groups sections. Additional perks are available depending on the level of contribution. Please visit the Account Upgrades page for more details.


    SUPPORT TMC