Bolt EUV 244/month, 24 month Balloon Loan

Was able to score a Bolt EUV LT for 244 month with 0 down using Hanscom CU’s “Better than a lease” program.

29585 selling price
4000 NJ rebate
2000 Uber rebate
500 Costco rebate
No tax EV for NJ residents.
~1000 dollars in “dealer fees”

24 months/15k per year @ 244/month

Their process is a little weird but all in all not too bad.

Hoping this helps some people out.


I thought the 2000 Uber and $500 Costco discounts ended once 2023 hit. Did you work this deal out before the end of the year?

Yes before years end

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How’d you get nj rebate on a 24m lease? If treated like a purchase keep in mind there’s still the 3yr requirement


Not a lease.

Yup, gonna have to pay that balloon note and keep it another year or pay the $4k back. Sooo… maybe not a deal after all.

The better than a lease claims you can turn in the car. Sounds a lot like a lease to me. (But in your name)

With the Bolt being so cheap it makes way more sense to just purchase it.

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Sorry should have stated I will keep the car after 24 months as my commuter.

I’m wondering if NJ is really going to be able to track this.

Don’t know how NJ does the rebate, but Chargeup says original lease needs to be 36 months.

Yea it’s treated as a purchase I believe. Maybe a weird workaround cause they’re so uncommon. Either way it’s perfect for my work duties and will probably end up buying it. The 36 month term was only like 15-20$ more I think per month.

It is a balloon note, so a form of financing. They just offer the option of giving it up rather than paying the final lump sum. NJ can obviously track your registration for renewal and VIN if someone else buys it. Now, if you buy the 3rd year reg and sell to someone out of state, they likely would never know. Gotta decide if that gamble is worth it, though. You’d still be buying out the note, though, so might as well keep it that 3rd year.

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If OP ends up keeping the car for only two years I believe they will only be on the hook for about $1,300 of the rebate money.

I was reading the terms and conditions to see if there was a prorated payback, but couldn’t find such language.

I am wondering if at the end of the 24 months he should try for the used car 4k rebate.

Edit : Ugh, he can’t collect on 4k as it is a loan not a lease unless he gets the dealer to structure a completely new loan in his wifes name and buy out the Hanscom loan.

say what?
What do you mean he can’t collect? The deal is done and the $4k already applied.

The other 4k the Used EV Car Credit

  • Must Be at least 2 years old - He’s on a 24
  • Original Use commences with someone other than the Taxpayer (Party B Rule)
  • Must involve a Dealer - This is where it gets sticky as this isn’t a lease and the dealer would have to buy the car from Party A and Sell it Party B (leaving a nice hole for the Dealer to insert some profit in)

That last one gets rough since Party A owns the car and doesn’t lease it.

Hmmmm… maybe you were conversing with yourself? Lol. I didn’t see anyone talking about the OP double collecting the rebate by buying his own used car.

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Welcome to the world of edits that occur in my mind. I was musing at the end of the Better Lease he can take the 4k Used EV rebate, and accidentally wiped out that portion

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Any particular reason you did 15k miles/year if you were just planning on keeping it?

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