Chevrolet Drops Price of Spark EV, Offers Low-Cost Lease
Chevrolet recently debuted a redesiged Spark for 2016 and just lowered the price of its 2015 Spark EV; it will now start at $25,995, including an $825 destination fee. That represents a drop of $1,650 from the 2015 model’s previous price, a move meant to try and boost interest in the Spark EV ahead of its eventual replacement in a year or two by a production version of the Chevrolet Bolt EV concept.
Related: 2014 Chevrolet Spark EV Review
According to Chevrolet, depending on a buyer’s tax situation and residency location, additional rebates and tax breaks are available that could lower the net price of the Spark EV to just $14,995. But there are some conditions a buyer must meet in order to get one at that price. One must qualify for the $7,500 federal tax credit for EVs and live in California, Maryland or Oregon. California offers a $2,500 tax rebate, while Maryland offers a $2,300 tax exemption (those are not the same thing, keep in mind). Chevy will kick in some additional rebate “bonus cash” as well — $1,000 in California, $1,200 in Maryland and $3,500 in Oregon.
If you’d prefer to lease the Spark EV, a low-cost lease is available (provided you qualify). For nothing due at lease signing, you can drive away in a Spark EV for $139 per month for 39 months, excluding tax, title, license and dealer fees.
The Spark EV is currently only available in California and Oregon, but will go on sale in Maryland in mid-2015, according to Chevrolet. The all-electric city car’s new smaller, lighter 18.4-kilowatt-hour battery pack (smaller than the 21-kwh pack it had last year) enables the car to go a rated 82 miles before needing a recharge, which can be done with an optional 480-volt DC Fast Charge unit. That option can recharge the car up to 80 percent in just 20 minutes, according to GM, while a 240-volt charging system will take around seven hours.
