Used Bolt EUV – Comparison of ownership costs

Used Chevrolet Bolt EUV more affordable?

Opting for a used electric vehicle gives you access to electric mobility at a reduced cost, while still allowing you to enjoy substantial savings. It’s also more profitable for those who only drive limited distances.

A two-year-old used Bolt EUV would cost considerably less than a similar equivalent new gasoline-powered model (Chevrolet Trax). Compared with a used Chevrolet Trax, the Bolt EUV would be slightly more expensive to purchase.

But in any case, ownership costs for the Bolt EUV are much lower, once energy and maintenance costs have been factored in.

In fact, the savings begin to add up from the very first month, in every case!

The “breakeven point” (the annual kilometrage at which the Bolt EUV becomes more cost-effective) is very low, generating savings starting at 1,800 kilometres per year or less. (See below for details.)

Production of the Chevrolet Bolt EUV was suspended in 2023. In its final year of production, it was the top-selling electric vehicle in Quebec, surpassing both Tesla and Hyundai models. It's a car that is reliable and was built to last.

Lower costs every month with the Chevrolet Bolt EUV!

The Chevrolet Bolt EUV can be compared with a similar model from the same brand—the Chevrolet Trax. The Trax is a mid-range vehicle costing in the neighbourhood of $30,000, making it more “affordable” to buy than other electric models currently available in Quebec. For comparison purposes, we have chosen models from the same range, i.e. the LT version of each vehicle.

Opting for a very recent used electric vehicle (Bolt EUV, barely 2 years old, 46,000 km on average) over a new gas-powered model (2025 Trax) delivers appreciable savings at the time of purchase, given the significant amount of depreciation that occurs over the first few years.

When compared to a used Trax, the Bolt EUV is slightly more expensive to purchase.

But in all cases, the Bolt EUV will turn out to be much cheaper to own and operate each month!

• Significant savings in energy costs
• Annual savings on maintenance

See below for detailed calculations

During the first 5 years (based on financing over 60 months), choosing to go electric will bring significant savings, all depending on the number of kilometres travelled. Remember, the more kilometres you drive, the more it pays to go electric!

Even if you include the installation of a home charging station (at a cost of around $1,000), opting for a used Bolt EUV over a new Trax could save you between $10,000 and $15,000 over the first 5 years.

For anyone already planning to buy a used vehicle (Trax 2024 or 2022), switching to an equivalent Bolt EUV could save between $5,000 and $12,000 over the 5-year loan repayment period (depending on the number of kilometres driven annually).

In most cases, the Bolt EUV will generate savings regardless of the number of kilometres driven each year, even if the vehicle is only kept for 5 years. In the “worst-case scenario," it would generate savings as soon as you drive more than 5,600 km/yr (the “breakeven point,” at which the Bolt EUV becomes more cost-effective).

Major savings once the vehicle is paid off

Once the final monthly payment has been made (at the end of 60 months), the benefits of deciding to go electric could become even more significant.

The longer you keep your vehicle, the more you'll save. Going electric could prove very profitable over time!

After 10 years, choosing a used Bolt EUV over a new Trax could save you between $19,000 and $30,000 (even including the prior installation of a home charging station). Opting for a used vehicle will always generate savings, regardless of the number of kilometres driven each year.

For a prospective purchaser who was already planning to buy a used vehicle (Trax 2024 or 2022), switching to an equivalent Bolt EUV could save between $15,000 and $26,000 over 10 years (depending on the number of kilometres driven each year). The “breakeven point” (the annual number of kilometres at which the Bolt EUV becomes more advantageous) is then very low, generating savings starting at 1,800 kilometres per year. (Comparison based on 2022 models. With the 2023 model, it's still more economical).

Calculation details

The purchase price of a used Bolt EUV is still higher than that of its gas-powered equivalent in the same range (except when compared with a new vehicle).

But it costs only a fraction of the cost in energy to operate and maintain it.

These costs are estimated based on a typical charging breakdown of 90% at-home charging, 5% public Level 2 charging (240 V), and 5% fast charging (100 kW). Costs may vary, based on use. The model's fuel consumption is taken from the Natural Resources Canada Fuel Consumption Guide ‘combined rating’ (55% city, 45% highway). Costs may vary according to options, vehicle use and driving habits.

These costs are based on the combined fuel consumption rating (55% city and 45% highway) as indicated in the Natural Resources Canada Fuel Consumption Guide. The price of gasoline has been set at $1.62/l (the 2024 average price in Quebec, according to the Régie de l'énergie website). Costs may vary, based on vehicle use and driving habits.

Do your own calculations

We encourage you to do your own personal analysis, comparing the models of your choice, based on your own personal numbers, such as the number of kilometres driven annually, length of ownership (and, where applicable, vehicle depreciation), plus insurance costs.

You may be pleasantly surprised!

To view the methodology used for our calculations, go to the following page : Comparison of ownership costs - Methodology

* Prices and subsidies in effect as of April 2025.