Success Story: A New EV Purchase for $26,000? Here’s How

News Article

One of our Plug-in NC colleagues recently drove a new 2025 Chevrolet Equinox off the lot for less than $30K. For educational purposes, we thought we’d highlight how.

Taking a step back, our driver had some criteria to make sure they’d be getting the right electric vehicle (EV) for them, and not just the cheapest one. These criteria included:

A comfortable cabin with enough cargo capacity to carry friends, dogs and outdoor gear.
At least 280 miles of range, allowing for many regional trips without needing to charge.
Moderate DC fast charging performance — while it wouldn’t have to be best in class, the vehicle would need to be able to reach charging rates of approximately 150 kilowatts (kW).
A heat pump.

Although there are many EVs that meet the above conditions, there’s only one that could be purchased new for less than $30,000: the Chevy Equinox (we’d like to give a shoutout to Sir Walter Chevrolet in Raleigh). This model has been out for a few months, but only recently has the base trim (LT) started deliveries. Here are some specs:

319 miles of range (non-all-wheel drive)
150-kW DC fast charging acceptance rate, though admittedly not the best charging curve
Yes to heat pump (like all General Motors Ultium vehicles)
57 cubic feet of cargo capacity

MSRP: $34,995

Vehicle Price: $35,889 (includes Ultium charger with Level 1 and Level 2 connectors and mud guard interior mats)

($7,500) Federal tax credit applied at point of purchase
($1,500) Purchase allowance for current eligible non-GM owners/lessees (no trade-in required)
($1,000) Costco member only incentive
($500) Education discount. Other options that qualify include:
- Military
- Educator
- First responder
- Healthcare

Total Credits: $10,500

Subtotal (without tax, title and fees): $25,389

There are more EV options than ever for interested buyers. And yet, with 2024 coming to a close, it’s a significant milestone to see competitive, well-performing vehicles for less than $30,000. Do you think this pricing can keep bringing EVs to the masses?