[okiedokie21]

Hi all, sorry for the confusion here and thank you BadBolt for your explanations. My particular scenario is I also leased with the one pay option, and I was encouraged by my local dealership salesman to pursue the "swap" and it was explained to me as BadBolt described the substitution of collateral. My salesmen sold it to me that I was going to be able to essentially transfer the good deal (discounts/rebates) I received on the 2020 Bolt to the replacement vehicle. When I was initially contacted by GM I was informed of the November cars that I could "trade" into, yet was told they were already gone and more cars would be coming. After discussing the issue with my salesman, he suggested I order the EUV I wanted - so I did and thankfully have yet to be asked for a deposit. From all the stories I've read, I am super thankful my local dealership has been so accommodating. I am aware that my local dealership has several employees going through the substitution of collateral swap as well. I do believe dealerships receive some compensation to host this sort of deal.

I am to understand that GM will begin producing new EVs in April, which aligns similarly with the time I am waiting to be connected to a repurchase coordinator. If I've done my math correctly, as it pertains to California Lemon Law charging usage deductions, I should be able to obtain a fully loaded EUV Premier ( minus supercruise) without any money out pocket (fingers crossed). I am hopeful that the GM lease protection plan I purchased will transfer over to the EUV without too much trouble.

BadBolt where are you in the process?

Thank you all for your input/advice

Mark

I am in this situation right now, in NJ.

Leased a 2021 premiere bolt in may 2021 from a dealer that I have connections too, they are lazy to entertain the trade repurchase.
So I picked a different dealer, and tagged LT EUV, the dealer sent the VIN to chevy repurchase rep, and here is what I have been offered:

Additionally, I am told that the new dealer will be setting up the lease terms which means this is going to be treated as a whole new selling/buying deal.
I did not receive dealers lease terms yet. Bought a lot of extras (protections, etc) at half rates.
With this new lease terms, current market conditions, and the overhead dealer charges, i am sure the payments will be a lot higher.

After I received that, someone suggested I ask for a substitution of collateral, I am waiting for repurchase co-ords response to that. We'll see how that goes.

 

[Vicki37]

**** IMPORTANT ****

All of you w/ swapped cars please test this and advise here: Everyone w/ SWAPed EUV'S Unite - MyChevy App /...

Thank you!

 

[BeachBolt]

Hi Mark, I was just contacted by dealership in CA and offered a swap that sounds like an excellent deal. I’m ready to go for it but after reading all these posts I’m getting paranoid. Did everything work out ok for you?

Hi, unfortunately I am still waiting. The latest drama is I am being told that my February special order EUV won't be "picked up" by GM, leaving me with no replacement vehicle to swap into. The repurchase agent keeps offering a November car, yet I am unwilling to go down a trim level as they only have LTs available. After a conversation with the repurchase agent's supervisor, they claim they are going to work with other dealers near me to try and locate an incoming 2022 EUV for me to swap into. I am skeptical about this process especially when thinking what dealer would give up a vehicle they can currently sell for a premium. I've further explained to the repurchase folks that I don't feel I should have to continue to do all the "leg work" to find a replacement vehicle, especially since I already ordered a replacement car. I've also been thinking maybe I should join one of the several class action suits that are currently underway...

What have you been offered and what are your concerns about the offer?

Thanks,
Mark

 

[BeachBolt]

I was in your same boat, one-pay lease heavily discounted in CA.

Best option is to do the ‘MSRP Swap’ knows as Trade Repurchase.

Your lease contract remains exactly the same only difference is the new VIN number provided for the Substitution of Collateral. Same terms, same monthly payment, same due date.

So basically you get a brand new EUV for the price of a 3 year old lease (lease buy-out remains the same). At the end my EUV will cost me 19k on Dec/2023.

Hi, sounds as if you've been able to swap into a new ride. What trim line did you end up with (Premier or LT)?

Thanks,
Mark

 

[Vantagebox]

Hi, unfortunately I am still waiting. The latest drama is I am being told that my February special order EUV won't be "picked up" by GM, leaving me with no replacement vehicle to swap into. The repurchase agent keeps offering a November car, yet I am unwilling to go down a trim level as they only have LTs available. After a conversation with the repurchase agent's supervisor, they claim they are going to work with other dealers near me to try and locate an incoming 2022 EUV for me to swap into. I am skeptical about this process especially when thinking what dealer would give up a vehicle they can currently sell for a premium. I've further explained to the repurchase folks that I don't feel I should have to continue to do all the "leg work" to find a replacement vehicle, especially since I already ordered a replacement car. I've also been thinking maybe I should join one of the several class action suits that are currently underway...

What have you been offered and what are your concerns about the offer?

Thanks,
Mark

Mark, my order for a new EUV was put in last November (that was the settlement that BBB worked between the parties). I'm also now being told that it will not be picked up by GM's Production. November cars are pretty much all LTs like you said and dealers won't use their existing or incoming Premier EUVs to do the swap. Also, nobody wants to talk about the 2023's for this program - I'm not even sure that GM will allow it. At this point, I think the best approach may be to put in an order for an ICE, flip it in the open market, then go shopping for an EV (including an EUV) with the proceeds.

 

[BeachBolt]

Mark, my order for a new EUV was put in last November (that was the settlement that BBB worked between the parties). I'm also now being told that it will not be picked up by GM's Production. November cars are pretty much all LTs like you said and dealers won't use their existing or incoming Premier EUVs to do the swap. Also, nobody wants to talk about the 2023's for this program - I'm not even sure that GM will allow it. At this point, I think the best approach may be to put in an order for an ICE, flip it in the open market, then go shopping for an EV (including an EUV) with the proceeds.

How interesting about your November order, as I was told that it was a recent change that GM was not picking up new orders. Seemingly, they've produced a bunch of LTs and are basically forcing us to use those vehicles to trade into. For those who already have an LT it's a great deal, for those of us who have a Premier we'd be losing features and equity to some degree by going down a trim level. I inquired with the repurchase agent's supervisor as to any timeline they need to adhere to and she stated they didn't have any. This is concerning to me that there isn't any oversight to this process regarding timely curing the issue. I was also informed that the repurchase case wouldn't wait for the 2023 model, which now I find odd since I learned there were no case timelines.

I did a one time pay lease for my 2020 Bolt, so I need to do the MSRP swap so I can move all the incentives over to the new vehicle, as it was the incentives that backfilled the cost of the vehicle and allowed me to be able to afford the one time lease pay. Knowing that your order from November is being denied somewhat confirms my idea that GM is forcing the November cars on us in a take it or leave it posture.

Class action law suit here we come!!!

Mark

 

[Skidro13]

This is a real annoying problem. We should start a new thread to discuss ways to put pressure on GM to add to the swap list. There are probably a lot of things we can do like tweeting, emailing, snail mail, calls to GM.

 

[p7wang]

My new EUV MSRP was lower than my old EV and I got a check back. Not sure you would be out anything if you picked a lower trim.

 

[Lite2]

I was in your same boat, one-pay lease heavily discounted in CA.

Best option is to do the ‘MSRP Swap’ knows as Trade Repurchase.

Your lease contract remains exactly the same only difference is the new VIN number provided for the Substitution of Collateral. Same terms, same monthly payment, same due date.

So basically you get a brand new EUV for the price of a 3 year old lease (lease buy-out remains the same). At the end my EUV will cost me 19k on Dec/2023.

Although I am looking forward to my 22 EV order, kinda makes me wish I had a lease.

 

[BeachBolt]

My new EUV MSRP was lower than my old EV and I got a check back. Not sure you would be out anything if you picked a lower trim.

Hi, i’m surprised you received a refund check, as I’ve heard others report there is no refunds for going down in pricing. When did you complete your trade?

Thanks,
Mark.

 

[p7wang]

Hi, i’m surprised you received a refund check, as I’ve heard others report there is no refunds for going down in pricing. When did you complete your trade?

Thanks,
Mark.

I guess it depends on how GM interprets your state lemon law. I swapped Mar 15. You might evaluate the new $199 lease deal for 2022 Bolt EV.

 

[Vicki37]

I guess it depends on how GM interprets your state lemon law. I swapped Mar 15. You might evaluate the new $199 lease deal for 2022 Bolt EV.

Wow that’s nice, link to the dealer offering it?

Ps: just saw in San Fran man that’s a steal…

 

[pintekus]

I am in CA and have a one-pay lease. Last week I finally received an offer for trade replacement. The offer essentially provides a credit of the full amount paid at original lease inception toward a new lease. There is no usage deduction. When I talked to the dealer selected to host the transaction, they said that they can apply this credit as a down payment toward purchase.

Hi,
I have the same situation as you and I did a one-pay lease. How do you get the offer and what steps you have taken? Do you have to return the car right away or wait for the lease mature to return the car? Thanks a lot for the detail.

 

[BeachBolt]

Hi,
I have the same situation as you and I did a one-pay lease. How do you get the offer and what steps you have taken? Do you have to return the car right away or wait for the lease mature to return the car? Thanks a lot for the detail.

Hi all, I was finally able to obtain a new 22 EUV Premier fully loaded. I too have the one pay lease. I used the Chevy website to "build" a vehicle after my February special order EUV was never picked up. While picking options on the Chevy site, I found that a nearly identical 22 EUV was already incoming to a dealer near me. I contacted the Chevy dealer and I took delivery of the car last month. I found out that the hosting dealer gets $500 for hosting the deal (doing the paperwork) and a new car allocation to replace the car they lost. The MSRP was less on the new EUV and I did not receive any sort of refund. In addition, I was not charged a usage fee for the 10k miles that were on the Bolt. In the end, we will effectively have gotten the EUV for about half price in that the lease contract and buy out remain the same - as pointed out by another forum poster.

Love the new EUV, I have been waiting to get a sunroof back and the Super Cruise is fun! I would say the frustrating process was worth it in the end as the EUV is a much nicer vehicle in my opinion.

Thanks!
Mark

 

[you27]

Hi all, I was finally able to obtain a new 22 EUV Premier fully loaded. I too have the one pay lease. I used the Chevy website to "build" a vehicle after my February special order EUV was never picked up. While picking options on the Chevy site, I found that a nearly identical 22 EUV was already incoming to a dealer near me. I contacted the Chevy dealer and I took delivery of the car last month. I found out that the hosting dealer gets $500 for hosting the deal (doing the paperwork) and a new car allocation to replace the car they lost. The MSRP was less on the new EUV and I did not receive any sort of refund. In addition, I was not charged a usage fee for the 10k miles that were on the Bolt. In the end, we will effectively have gotten the EUV for about half price in that the lease contract and buy out remain the same - as pointed out by another forum poster.

Love the new EUV, I have been waiting to get a sunroof back and the Super Cruise is fun! I would say the frustrating process was worth it in the end as the EUV is a much nicer vehicle in my opinion.

Thanks!
Mark

what state are you in?

 

[pintekus]

what state are you in?

I am in the bayarea in CA.

 

[you27]

I am in the bayarea in CA.

I was asking BeachBolt. But I replied to your other thread. Basically your 1st step is call EV Concierge and express your concern of the recall and lack of a new battery for you. See if you can get them to start a buyback or trade repurchase for your 2020. Yes, those are eligible as I completed my trade repurchase on my 2020 lease to a 2022 EUV. But as i mentioned in your other thread, you may be a little late now, especially with your lease maturity date of January 2023.