GM recalling Bolts for potential battery issue

Yes I’ll choose replacement. I am supposed to make a factory order with my dealer contact unless I can find something on the lot they are willing to part with for MSRP (lol… they have a total of two new vehicles on their website).

I’ll report back once I talk to the dealer rep.

Interesting. I actually want to do the same thing. I love the car but just want one from the factory with a battery pack that GM has “confidence” in. I have a 2022 EV and want the exact same car. Hopefully when your factory order arrives you would get the exact same lease terms. I got an amazing deal over at Premier Chevy in Buena Park.

Does your lease just continue on the same terms (same end date, remaining miles allowed) with the new vehicle?

Seems totally worth it to upgrade a 2020 Bolt to a 2022 and get the better interior of it is an even swap.

I believe so but I haven’t seen it in writing nor have had it explained well by a GM rep.

So GM just announced that the next EVs are going to be Equinox and BLAZER! HA! Priceless!

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Just placed a replacement order for a Camaro LT1 just a hair under my buyback amount. Still haven’t heard a GM rep fully explain how this is going to work on a lease, but it seems like it’s just going to be a VIN swap on the existing lease contract. Same payment, end date, RV, MF, etc. Will be a very nice payment for a 455hp V8 6MT monster!

This seems highly unlikely.

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Can you elaborate? The GM rep did use the term “VIN swap” into the existing “loan” working with the lender to substitute the VIN into the contract. Unfortunately the rep knew nothing specific about GM Financial leases.

VIN swaps are totally a thing, but not normally in the context of completely different vehicles. My guess is that the GM rep was speaking off of generalized experience and when the nuances of things like the RV being completely different comes into play, the story will change.

Here’s what the buyback offer says. You’re right in that there’s no guarantee here.

REPLACEMENT:
To the extent your vehicle is still in your possession and available to return to General Motors, you may elect to have General Motors replace the subject vehicle with a new motor vehicle that is substantially identical to your vehicle. If you elect a replacement vehicle, General Motors will work with you to place you in a comparable vehicle. General Motors will pay for any sales tax, license fees, registration fees, and other official fees you are obligated to pay in connection with the replacement. If your vehicle is subject to a lien, you will be responsible for working with your lender to substitute the replacement vehicle as collateral into your existing loan, otherwise you will be responsible for securing financing for the replacement vehicle. General Motors will also pay incidental damages actually incurred by you, as permitted by law and subject to verification.

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The good news is I can always buy out my Bolt for ~$24k to take delivery of a $39k Camaro. I’d probably end up doing that at the end of the contract anyways if kept the existing lease contract as the RV is $20k and the Camaro will be worth more for sure. Doing it now vs 2.5 years from now won’t make much difference.

When I think of a vehicle ‘substantially identical’ to a Bolt, the Camaro LT1 definitely comes to mind…:rofl:

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With a stick shift :laughing:

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One-pedal driving to three pedals!!

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Not a lease, but some years ago I did a “collateral substitution” when I traded in my Jeep and got a Mercedes.

I kept the loan I had from Chrysler on the Jeep, and they just dropped the Jeep as collateral and added the Mercedes.

I paid cash for the difference in value.

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There’s the big difference though. With a loan, it’s just dollars vs collateral value. The car on the other end doesn’t really matter. With a lease, things like the rv, buy out details, etc are tied to specific vehicle.

Yes, I know, that’s why I started my post that way. :slight_smile:

The items you listed could be addressed in an amendment to the original lease contract, which is how my substitution of collateral was handled.

No idea if that’s actually how it’s done, but if you get a new car in exchange for one that you’ve already leased, they’re either going to void the original lease agreement and have you sign a new one, or you’ll sign an amendment to the original contract.

Maybe if I call GM Financial and tell them I am in a replacement process they can settle this.

Probably a good plan

Not really, they are tied to a contract of letting you use a vehicle at specific terms. A collateral substitution would work exactly like that assuming that the bank is willing to accept the new vehicle on the same terms. This may have already been worked out with the captive and calculated into recall math.