$69 a Week for a New Chevy Bolt EV: Inside the Toronto Lease Deal Driving Canada's EV Bargain Era

A Toronto-area dealer is advertising a new 2027 Chevrolet Bolt EV at $69 per week plus HST on a 24-month lease — no down payment beyond the first payment, and a 16,000 km/year allowance. With the average new vehicle in Canada long past the $60,000 mark, the offer, reported by Driving.ca, is one of the lowest advertised payments on any new car in the country right now.

The dealer is City GM in Toronto. According to its site, the payment is built from a combination of reasonable lease rates, a strong residual value, the federal EVAP rebate, and a dealer discount of $1,191.96 off MSRP.

The deal, in numbers

• $69 per week plus HST on a 24-month lease of the 2027 Bolt EV.
• No down payment — only the standard first payment up front.
• 16,000 km per year allowance, with a 16-cents-per-km overage charge.
• $1,191.96 off MSRP from the dealer, stacked on the federal EVAP incentive.
• Bolt's status: the model is slated to disappear from order forms after 2027, which is squeezing out aggressive clearance pricing.

Read the fine print before signing

Driving.ca's Matthew Guy flags two add-ons that blunt the deal's shine: a $399 "etch & key fob" charge — a VIN-etching business-office add-on he describes as useless — and a $58 "fuel fee" on a car that uses no fuel at all. Both are negotiable line items, and shrewd shoppers should ask to have them removed.

There's also room to push further down. Costco members can get up to $1,200 off certain GM vehicles; factoring that in, Chevy's own build-and-price tool suggests a payment closer to $54 per week plus tax. And with the Bolt ending production after 2027, dealer hold-back and unadvertised manufacturer-to-dealer incentives likely sit behind whatever the sales manager has put on paper.

The bigger picture for Canadian EV shoppers

The $69-a-week Bolt is the sharpest example yet of a shift in the Canadian market: automakers and dealers are now using leases to move EV metal at payments that undercut comparable gasoline cars. Remember that 24-month leases only qualify for half the maximum federal EVAP rebate — a constraint that shaped this deal — and that the new 2027 Nissan Leaf S at $34,998 could produce similarly rock-bottom weekly payments if its residuals and subvented rates are as aggressive.

For Canadians who have been waiting for EV running costs to hit coffee-money territory, this offer is the proof point: the cheapest way into a new EV in Canada right now is a short lease on an outgoing model, negotiated with the junk fees stripped out.

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