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Discussion Starter · #1 ·
Well I received my buyback offer today ($26,594) and I am not quite sure what to do. Their offer is 100% of what I paid for the car but not including tags / tax. Now the issue is, do I take it. I was looking at a Kia Niro EV but the 2021 they had sold and all they have left is a 2020 with cloth seats. Their bottom dollar is $36,000 - $7,500 Fed Credit for $28,500 + tag and tax. That leaves me in the hole and owning a car that I don't think is as good as the Chevy (even with the spontaneous combustion problems).

So, here are my options.

1. Take the buyback, buy the Kia
2. Take the buyback, pocket the cash, go back to driving my Volt for a while until Model Y's have better availability
3. Turndown the buyback and pursue a MSRP swap for a new Bolt whenever they are available
4. Turndown the buyback and just wait out a new battery (if that will even happen for a 2020)
5. Sell the car to CarMax and buy a Coal Roller

I looked on KBB and private party value for my car is over $28,000. In reality I would be better off selling it privately (not that I really want to).
 

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Well I received my buyback offer today ($26,594) and I am not quite sure what to do. Their offer is 100% of what I paid for the car but not including tags / tax. Now the issue is, do I take it. I was looking at a Kia Niro EV but the 2021 they had sold and all they have left is a 2020 with cloth seats. Their bottom dollar is $36,000 - $7,500 Fed Credit for $28,500 + tag and tax. That leaves me in the hole and owning a car that I don't think is as good as the Chevy (even with the spontaneous combustion problems).

So, here are my options.

1. Take the buyback, buy the Kia
2. Take the buyback, pocket the cash, go back to driving my Volt for a while until Model Y's have better availability
3. Turndown the buyback and pursue a MSRP swap for a new Bolt whenever they are available
4. Turndown the buyback and just wait out a new battery (if that will even happen for a 2020)
5. Sell the car to CarMax and buy a Coal Roller

I looked on KBB and private party value for my car is over $28,000. In reality I would be better off selling it privately (not that I really want to).
What would Vroom or a similar online market offer? If it's about the same as the buyback offer, then you can do option #3 and still keep all of your other options effectively open. Selling private party is possible, but a bit of a hassle.
 

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Discussion Starter · #3 ·
Biggest problem is I like the Bolt. If there was a replacement battery available now, I would have it done and not look back. I am even willing to pay more for a better car, but there are NO better cars available that are not twice the price or more.
 

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You say you have a Volt? I would cash out to carmax or take the offer, then drive that Volt while you wait for the new Tax credit to finalize, then you either order a cheap new Bolt or you wait a few months and see which EV you like when they are all out and available. That's why I am swapping to an ICE, I will use it as a placeholder while I wait for my next EV, and I would love it if that next EV is a 2022 Bolt for 19k.
 

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Biggest problem is I like the Bolt. If there was a replacement battery available now, I would have it done and not look back. I am even willing to pay more for a better car, but there are NO better cars available that are not twice the price or more.
What about - take the money, drive the Volt, wait for the new Bolts to actually be sold and buy it then. You may come out ahead because of the new tax credits.
 

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1. Did you want to spend 7-8k more for less of a car with cloth seats etc?

2. At least you can do 37 miles…. Yeah, I had a ‘13 volt and I just can’t see myself pulling into gas stations again for liquified dinosaur.

3. I am going to try for this myself. I have tossed it to fate (and GM) by stating to the EV Consierge answerperson “….whichever comes first, swap or…”

4. “…a new battery in my 2020.”

Just my thoughts on the subject 🤨
 

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What about - take the money, drive the Volt, wait for the new Bolts to actually be sold and buy it then. You may come out ahead because of the new tax credits.
Yeah, with the supply issue, if you can get by without another car, do everyone a favor by not being part of the demand curve for about a year. :)
 

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Discussion Starter · #10 ·
My Dad drives the Volt and while he is ok giving it up for a while one of the reasons I bought the Bolt is I need 5 seats. And I absolutely hate driving my wife's Traverse now.

I feel like my safest bet is to turn down the buyback and request an MSRP swap. I am not in this to make money at GM's expense. I feel like at least in the next 12 months the overall value on the Bolt will stay close to the same and in that timeframe I may be able to better afford and actually get a Tesla or trade for a new Bolt. But I don't think I will be getting a new battery in the next 12 months.
 

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My Dad drives the Volt and while he is ok giving it up for a while one of the reasons I bought the Bolt is I need 5 seats. And I absolutely hate driving my wife's Traverse now.

I feel like my safest bet is to turn down the buyback and request an MSRP swap. I am not in this to make money at GM's expense. I feel like at least in the next 12 months the overall value on the Bolt will stay close to the same and in that timeframe I may be able to better afford and actually get a Tesla or trade for a new Bolt. But I don't think I will be getting a new battery in the next 12 months.
Sounds good. I feel similar to you regarding not looking for something for nothing. The issue I worry about GM taking is putting the incentives into the usage calculation for a MSRP swap (like in the cash repurchase). The reason isn’t because I want something for nothing, but that I don’t want to go from getting the great deal I got on the ‘20 to no deal on a swap. I don’t think it’s wrong to take a replacement of everything I got the first time around, which includes the discounts.

Let us know what the offer is for the MSRP swap once you get it (🤩 or 😔).

….and you are making the best choice given the situation 👍
 

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Were you expecting more for the buy back than you paid minus mileage? Sounds like you had gotten a good deal originally and that's what the buy back would be based on. With a swap, they don't seem to penalize you for mileage (at least the cases I've heard). But for the buy back, it seems they always do unless the state lemon law prohibits it.

In your shoes, I'd probably keep the bolt and wait for the battery. Then you have a great car with a brand new battery for 26k.
 
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If you really like the car, why part with it? Of course you could gamble and hope new incentives put you where you need to be with it, or just get a new battery with a new warranty.
If I didn't stand to financially gain from a car I've had over 3 years, there's no way I'd sell it. Even though I got a good deal up front for a fully loaded premium at a base premium price, I still paid a lot more than the heavily discounted price the last Bolts were sold for. As a result, I stand to get almost 36000 back, so I'd be a fool not to take it.
If you can make do with the 80% programming while waiting for a new battery, I say keep it.
 

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Discussion Starter · #14 ·
Were you expecting more for the buy back than you paid minus mileage? Sounds like you had gotten a good deal originally and that's what the buy back would be based on
I was not sure, that is why I went the buyback route. They also did not have a mileage deduction. They basically are offering everything I paid to the dealer. I did come out like are rose on the original purchase. GM discounts, dealer discounts and the Costco discount knocked it down to where it was not much more than buying an off lease 2017. That is why it is difficult to accept a buyback for basically less than what I can sell it for used.

I am not planning to have the software update done. I already limit charging to ~80% but I make occasionally 150+ mile trips in a day and if I have to do that in cold weather an 80% charge would mean I would need to stop and charge to have a safety margin with the range. I also have not been below 30% SOC since the car was new.

My daughter will be 16 in a couple of years and I had planned on this becoming her car.
 

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I was not sure, that is why I went the buyback route. They also did not have a mileage deduction. They basically are offering everything I paid to the dealer. I did come out like are rose on the original purchase. GM discounts, dealer discounts and the Costco discount knocked it down to where it was not much more than buying an off lease 2017. That is why it is difficult to accept a buyback for basically less than what I can sell it for used.

I am not planning to have the software update done. I already limit charging to ~80% but I make occasionally 150+ mile trips in a day and if I have to do that in cold weather an 80% charge would mean I would need to stop and charge to have a safety margin with the range. I also have not been below 30% SOC since the car was new.

My daughter will be 16 in a couple of years and I had planned on this becoming her car.
Keep it. In a couple years give it to your daughter with a new battery. She’ll start her driving life with an EV and possibly never drive a gas or diesel vehicle. A win for you. A win for her. A win for Mother Earth.
 

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Discussion Starter · #16 ·
Keep it. In a couple years give it to your daughter with a new battery. She’ll start her driving life with an EV and possibly never drive a gas or diesel vehicle. A win for you. A win for her. A win for Mother Earth.
Well, I do plan to teach her how to drive my Miata with a 5sp. Well, at least until I can convert to EV. Who knows maybe I will do a conversion that keeps the transmission.
 

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I like my Bolt (2020) also. I can wait for a battery. You may be called sooner when the 2020 models get batteries due to your driving/charging habits. Looking at your options, I would lean towards keeping it and getting the new battery (#4) or the new Bolt swap (#3).You seem to be managing the restrictions well. In a few years, your daughter will drive a great car to school. There should be more EV options, plus the EV tax incentives "may" have passed by then🙂.
All of your options are not bad though (except #5⛽👎). Keep us posted!
 

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I would not count on your Bolt EV maintaining the same value as today in a year. It's currently about $5K above normal... we could be trending down by then and you'd be hit with a $10K 12 mo depreciation. Depending on timing and whether I have a MSRP swap option, I might end up keeping my Bolt and drive it until something more interesting comes along... meaning SSD w/V2G or at least higher energy density LFP w/V2G.
 

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I would not count on your Bolt EV maintaining the same value as today in a year. It's currently about $5K above normal... we could be trending down by then and you'd be hit with a $10K 12 mo depreciation. Depending on timing and whether I have a MSRP swap option, I might end up keeping my Bolt and drive it until something more interesting comes along... meaning SSD w/V2G or at least higher energy density LFP w/V2G.
I'm not so sure. Separate from general supply chain issues we're seeing BEV demand outstrip supply on levels that can't be placated given even current accelerated plans for manufacturing which in turn already outstrip the speed of available natural resources.

I think EVs will be the one place where used car value stays pandemic-level next year. Beyond that, I wouldn't make predictions but next year? Sure I'd take that bet in heartbeat even if it's not 100% sure thing.
 
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