Author Topic: NJ only:Chevy Bolt (electric car) $55/$72 a month 36/10k miles with one pay  (Read 48179 times)

Online avromie7

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how did you calculate $.04 per mile?
Most EVs get around 4 miles per kWh. $.15-16/4=~.04
I wonder what people who type "u" instead of "you" do with all their free time.

Offline aygart

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Hybrids have more moving parts, more repairs needed
Almost the entire hybrid system is covered under the emissions warranty for a long time.
Feelings don't care about your facts

Offline normathej

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Correct and those with a Bolt can attest the dollar amount monthly is very low.

I submitted a request to GM and was told i have the following two options.

1. Trade repurchase - find a new vehicle, get credit for all of the lease payments you've made into a new lease with GM financial. 
2. Lease swap - find a new lease, swap into it for the remainder of the term and same buyout cost.  Thing is that my MSRP was $40k / residual value $22k.  If I find a $50k vehicle, do I have to pay the difference?  If I find a 30k car (like the 2023 bolt), do I get money back? 
3. Just give back the car and get all of your money paid to date back (not going to go this route, since I need a car)

Trying to figure out if #1 or #2 are the better option for me financially, she told me I have to pick one and can then decline and move to the other offer, but each one takes a number of weeks and I want to do this before they stop offering buybacks altogether. Has anybody been through this to have recommendations?

The rep also told me that she will work to find me another car.  Is that not the case, and I should find a dealer to work with?


Offline Realshlomo

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Option 2 is a no brainer.

If you choose a car with a higher MSRP you will pay the difference. If you choose lower, it depends what your location is. In NJ you will get the difference in California you won't. But if you choose a car that has a 10k difference they will just decline and say to choose one that is closer in MSRP. I think the biggest check I've seen for the difference was max $5k.

You're going to need to find a dealer to host the collateral swap as it's called. Once you find a dealer that's willing to host you can decide on a vehicle. They may prefer that you factory order a car vs their current inventory.

Offline normathej

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Option 2 is a no brainer.

If you choose a car with a higher MSRP you will pay the difference. If you choose lower, it depends what your location is. In NJ you will get the difference in California you won't. But if you choose a car that has a 10k difference they will just decline and say to choose one that is closer in MSRP. I think the biggest check I've seen for the difference was max $5k.

You're going to need to find a dealer to host the collateral swap as it's called. Once you find a dealer that's willing to host you can decide on a vehicle. They may prefer that you factory order a car vs their current inventory.

Thanks!  I'm in NJ, so sounds like this is a win for me if I just stick with the Bolt, which is what I want to do.  So, now I search for a dealer.  Thanks much!

Offline Realshlomo

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Thanks!  I'm in NJ, so sounds like this is a win for me if I just stick with the Bolt, which is what I want to do.  So, now I search for a dealer.  Thanks much!
I don't think you're going to have an easy time swapping into a Bolt. 2022 inventory is very hard to come by. If the plan is to swap into a 2023 then maybe you can factory order it but confirm with your rep that they are allowing that. MSRP for the 2023 dropped by 5k or 6k.

To best monetize this I would recommend swapping into an ICE car and flipping it.

Online avromie7

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I don't think you're going to have an easy time swapping into a Bolt. 2022 inventory is very hard to come by. If the plan is to swap into a 2023 then maybe you can factory order it but confirm with your rep that they are allowing that. MSRP for the 2023 dropped by 5k or 6k.

To best monetize this I would recommend swapping into an ICE car and flipping it.
Get some upgrades to bring the MSRP closer to 2022 MSRP.
I wonder what people who type "u" instead of "you" do with all their free time.

Offline normathej

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I don't think you're going to have an easy time swapping into a Bolt. 2022 inventory is very hard to come by. If the plan is to swap into a 2023 then maybe you can factory order it but confirm with your rep that they are allowing that. MSRP for the 2023 dropped by 5k or 6k.

To best monetize this I would recommend swapping into an ICE car and flipping it.

They are offering to lock me in to a 2023 custom EV or EUV order; wouldn't get it until close to the end of the year but I don't actually care when the swap happens so long as it's guaranteed.  Sounds like it's easier than finding an existing 2022 EV, plus the 2023 has a lower MSRP (though I think there is a $6k credit on 22's also right now) and will have greater residual value for me.

Offline Realshlomo

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They can stop doing swaps at any time. If a fix for your battery is available (unlikely) they can deny the swap too.

The residual value is on the swapped car is the 2020 Bolts residual value. They are keeping the same terms and RV.

Offline normathej

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Same terms and RV but if the MSRP of the new car is $5k less, don’t I get that back now when I do the swap?

I asked about the swap program stopping, and the rep said I shouldn’t have an issue - that once it’s approved, they won’t take it back even if the new car to swap into is not ready yet. 
Think that’s not correct and I should do more research?

Offline Realshlomo

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Same terms and RV but if the MSRP of the new car is $5k less, don’t I get that back now when I do the swap?

I asked about the swap program stopping, and the rep said I shouldn’t have an issue - that once it’s approved, they won’t take it back even if the new car to swap into is not ready yet. 
Think that’s not correct and I should do more research?
Correct info on both.

The important part is when does your swap get approved? Ime they'll only approve it once  the car has landed at the dealer.

Offline normathej

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Correct info on both.

The important part is when does your swap get approved? Ime they'll only approve it once  the car has landed at the dealer.

So then not correct information on the second point?  You are saying they won’t approve the swap until the new car is delivered to the dealer, whereas she said the swap will be approved as soon as the car order is put through on my behalf….

Offline Realshlomo

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So then not correct information on the second point?  You are saying they won’t approve the swap until the new car is delivered to the dealer, whereas she said the swap will be approved as soon as the car order is put through on my behalf….

Clarify the point with her. Since ime they won't send you the final offer to sign until the car landed. I asked for it and they said no. Although I had my car tagged and they had the order number and vin once it was assigned.

It could be once you start the process and they agree to do a swap you're considered approved and they just won't send you the final offer until it arrives.

Offline mordechain

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I have a deposit on a 22 bolt EUV in northern new Jersey with an expected pick up in 2- 3 weeks.
For various reasons, I need to do a cash deal.
Dealer wants 1k markup.
Are there any discounts/rebates currently available that I should be aware of? (Other than $6300 deduction from MSRP?)
Is Costco still available?

Offline coffeebean

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Get some upgrades to bring the MSRP closer to 2022 MSRP.
If they give the difference of MSRP in cash why upgrade? If anything you'll get less for your money on your more expensive upgraded car when you sell it in the future.

Online avromie7

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If they give the difference of MSRP in cash why upgrade? If anything you'll get less for your money on your more expensive upgraded car when you sell it in the future.
@Realshlomo said there is a limit to how much cash they'll refund, so I said you can circumvent that and still get a bolt by getting some upgrades.
I wonder what people who type "u" instead of "you" do with all their free time.

Offline mordechain

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Is the new Jersey ev credit back? News reports say it was reduced to $4000. Is it in  force with the new fiscal year on July 1?

Offline normathej

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Clarify the point with her. Since ime they won't send you the final offer to sign until the car landed. I asked for it and they said no. Although I had my car tagged and they had the order number and vin once it was assigned.

It could be once you start the process and they agree to do a swap you're considered approved and they just won't send you the final offer until it arrives.

Just got this email, so I think I'm ok:
Once I have the information on your 2023 Bolt order, I will be creating your case and moving it forward to the Repurchase Coordinator (who will be calculating your offer). If your battery replacement does become available, you will not be forced out of the repurchase process but you will have the choice to exit and take the battery replacement if you would like.

Now on to the next question; any thoughts on the EUV instead of the EV?


Offline mordechain

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Is the ev rebate back yet?

Offline yaakovely

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Is the ev rebate back yet?
As of today it back. It is only 4k this time not 5k. https://chargeup.njcleanenergy.com/