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A formula loosely based on the lemon law is used to determine the repurchase amount. A “usage fee” is applied based on the ratio of “miles driven” divided by 120,000 miles (legal expected lifetime). The resulting fraction is multiplied by the “purchase price” to get the usage fee. For the exact formula, you should read through all the buyback threads (see you in a few days LOL), because it varies state-by-state.

In my case, I purchased outright a used ‘17 premier with 34k miles for $25,800 out the door. I had put 3084 miles on it when I called the Consierge line. The usage fee for the milage I did came to $608 usage fee.
so yes, I basically got back what I paid including tax/lic etc. But that is because of only 3K miles; more milage = more usage fee.
It definitely depends on the State's lemon law. Here in AZ, I got an offer of my purchase price, less $1.22/mi usage fee. The offer was less than $12k, which wouldn't even cover the balance on the loan. I deeply regret getting the Bolt now.
 

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Every state will be different based on the lemon laws in that state. Based on how the buyback on our 2019 went in the state of FL, if you are in FL I'd say they will buy back based on the actual purchase price of the car including tax, tags and title. That money would then somehow be divvied up between the finance company holding the note (they would get paid first) and then you would get what's left. Since we didn't have a note on our car I can't be sure exactly how that division of funds would work. I also don't know whether they would cover your interest costs. I'm thinking not, but I dunno - again, it all depends on your state's lemon laws. Oh, and if you have significant mileage, they may deduct something based on how far you've driven it. They did that to us for our 2019, but the deduction they took seemed more than fair. Best wishes for a good clean buyback that makes you as whole as possible.
 

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It definitely depends on the State's lemon law. Here in AZ, I got an offer of my purchase price, less $1.22/mi usage fee. The offer was less than $12k, which wouldn't even cover the balance on the loan. I deeply regret getting the Bolt now.
I said “loosely”, because they are not using the formula for LL qualification. You will be offered the usage formula without having to have the car in 3 times first, and in the first (X) time period, etc.

$1.21/mile? You got burned bro. My miles cost me 31 cents each in my repurchase.
 

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Every state will be different based on the lemon laws in that state. Based on how the buyback on our 2019 went in the state of FL, if you are in FL I'd say they will buy back based on the actual purchase price of the car including tax, tags and title. That money would then somehow be divvied up between the finance company holding the note (they would get paid first) and then you would get what's left. Since we didn't have a note on our car I can't be sure exactly how that division of funds would work. I also don't know whether they would cover your interest costs. I'm thinking not, but I dunno - again, it all depends on your state's lemon laws. Oh, and if you have significant mileage, they may deduct something based on how far you've driven it. They did that to us for our 2019, but the deduction they took seemed more than fair. Best wishes for a good clean buyback that makes you as whole as possible.
I’m also in Florida. How long did it take you to get through the process? It’s been about a month for me so far and they stopped providing any information a couple of weeks ago.
 

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I said “loosely”, because they are not using the formula for LL qualification. You will be offered the usage formula without having to have the car in 3 times first, and in the first (X) time period, etc.

$1.21/mile? You got burned bro. My miles cost me 31 cents each in my repurchase.
It definitely depends on the State's lemon law. Here in AZ, I got an offer of my purchase price, less $1.22/mi usage fee. The offer was less than $12k, which wouldn't even cover the balance on the loan. I deeply regret getting the Bolt now.
If you lease a vehicle and exceed the mileage it is typically only $.25 a mile for overages. I think they are trying to hose you. Did you try to negotiate?
 

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If you lease a vehicle and exceed the mileage it is typically only $.25 a mile for overages. I think they are trying to hose you. Did you try to negotiate?
The offer is basically “take it or leave it”, but I haven’t heard of anyone negotiating changes to the offer once made. They also stated that the offer is void if not accepted in writing in 4 business days.
 

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Lets see I have 100,000 miles on now .. so 18K I paid for the car - $122,000 = I owe GM $104,000 😁
:LOL: Right?!? I love my Bolt, but for a cost of use of $1.22/mi, I might have gone with a Ferrari.

Honestly, I think they messed up and approved me for a buyback thinking I was in CA because that's where my car was originally sold. Once they realized I bought the car used in AZ, where there are no protections for used car purchases, they threw out a low-ball offer they knew I wouldn't take and advised me to wait for the fix.
 

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It’s been just over a week for me. I’ve let them know I’m willing to swap or repurchase. I’m leaving messages every other day on Twitter. Letting them know how serious I am about getting out of this vehicle. Hoping they will do a trade to a gas vehicle.
 

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Good luck! Aside from the disingenuous buyback offer, GM has gone radio silent on me. The person from EV concierge I'd been working with will not return my calls or emails. When I call in on the main EV concierge line they just tell me they'll tell her I called. Since buyback isn't a legitimate option, I want to know what else is available. Rental car? Going several months with no solution is just unacceptable.
 

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:LOL: Right?!? I love my Bolt, but for a cost of use of $1.22/mi, I might have gone with a Ferrari.

Honestly, I think they messed up and approved me for a buyback thinking I was in CA because that's where my car was originally sold. Once they realized I bought the car used in AZ, where there are no protections for used car purchases, they threw out a low-ball offer they knew I wouldn't take and advised me to wait for the fix.
By law you have cali lemon protections. Where you buy is where the law takes place.
 

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At 4,000 miles, you will likely make money on the deal, should GM offer you a buyback. We had almost 7500 miles and I made a slight profit.
 

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I’m also in Florida. How long did it take you to get through the process? It’s been about a month for me so far and they stopped providing any information a couple of weeks ago.
Last time it took a couple of months. They should not have gone dark without giving you a case number and telling you about how long it will be before you hear from them.

As I noted above, you should have gotten some kind of case number for your buyback, and you should be able to use that case number to ask them for an update. Don't keep asking for the same, clearly incompetent, Bolt Concierge when you reach out to them. Use the case number instead, and talk to anyone who answers the phone, using the case number as a key. At some point you should also be contacted by the GM person who's actually handling the financial details of the buyback. They will ask for several things, including the "buy sheet" from your dealership that shows all the details of the purchase, including how much you paid. I think that sheet is usually pink, it's long, and is effectively a carbon copy of the documents you signed when you bought or leased the car, with all the important numbers on it. Once you have that GM finance person's contact info, you talk with them exclusively and never speak with the concierge again. They won't over-communicate, but they will tell you about how long it'll take to get an offer from them. That person, once you've accepted their offer, will hook you up with the dealership where they will send the check. Once the check arrives, you drop off the car, pick up the check, and you're done. If you want another Chevy of some kind, you can work with the dealership handling the buyback to make your own best deal on another vehicle. Bear in mind that most dealers do not accept 3rd party checks (which this would be), but since Chevy fed-exed the check to them directly and not to you so they can be sure it's legitimate, they will likely make an exception since that's how they get you into another Chevy from their dealership.

This time, our second time around, we're doing things a little differently because the "safety parameters" for the current recall made us unwilling to have the car in our driveway at all. We re-established contact with the GM customer service rep we got to last time by being highly effective and irritating complainers with the Bolt Concierge morons when our 2019 was recalled. (I simply called them out on every inconsistency, every stupid mistake they made, and every customer-unfriendly limitation they tried to apply to how they were willing to work with me.) So, we're already in a loaner and the car is already on the dealer's lot, waiting for a result. We're simultaneously pursuing a buyback and hoping for a fix. If they can get the fix (e.g. new battery modules) done fast enough, we'd love to keep the car. If the buyback offer is ready to go while GM is still trying to figure out how long we'll be waiting for battery module replacements, we'll take the check and go buy a Tesla or something else depending what we can find (e.g. our replacement car wouldn't likely be a GM vehicle).

I hope that helps.
 

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That's the same idiot that claimed hundreds of Engineers were working on the issue a year ago...sorry , dont like the guy he keeps claiming what we know is BS

“We certainly apologize,” said Dan Flores, a company spokesman. “We have hundreds of people at both companies working around the clock to resolve this issue as quickly as possible.”
 

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Something tells me that a repurchase will probably be the only option. Due to chip shortages and dealers not wanting to trade.
 

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I initiated my buy back. However, when I spoke to the sales person when doing my build and price he said he had one owner contacted directly from GM to do a buyback. So unless he was lying, it seem GM has started the process for some without customer initiation. This is in MA.

Sadly, in MA they deduct usage at 15c/mile off the purchase price (not MSRP). However, if you do a swap there is no deduction and it's for MSRP.

So it's better to get a replacement and sell it than it is to do a buyback. For someone with low mileage, it could work out. My MSRP was 44k+. My purchase price was 39k and with the milage I have it would be closer to 31k buyback. So a fully loaded EUV will sell for more than 31k "used" with virtually zero miles on it.

I do like the EUV though aside from the launch edition blackout wheels. Those are horrendous wheels.
We're in MA too and were going to have them swap us into an EUV. We couldn't find any on a lot anywhere with all the features we wanted, so we put in an order to have one built. The week they stopped building was the week that they were going to have built ours. We switched to the straight buyback option and ended up getting an VW ID.4 off a dealer lot. We could try to get a truck or something with the MSRP swap and then resell it, but I think it would be more hassle than it's worth.

It's really a shame, would have much rather been able to get another Bolt.
 

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It definitely depends on the State's lemon law. Here in AZ, I got an offer of my purchase price, less $1.22/mi usage fee. The offer was less than $12k, which wouldn't even cover the balance on the loan. I deeply regret getting the Bolt now.
This is ridiculous, just realized that the warranty is 100k miles so in a state that does not specify a higher number (lika CA 120k), it should be based on 100k miles... You should talk to someone in your state legislator to be more specific with the numbers in the lemon law. Seeing AZ is turning more Blue, there is a chance this could pass.
 
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