It varies by state but it’s usually based off of msrp minus incentives and there’s a charge for mileage. I haven’t heard anything back yet worth mentioning so I’m not sure what their offers will look like for me.
Copy, I’m in Cali and am at the start of the buyback process. I’ve submitted my contract, odometer pic, and registration. My advisor said everything was received successfully and am now waiting for a dealer to say they have space (that’s a funny one, there’s no cars on any lot) and then they will provide the numbers…
Keep us posted. I’m curious if CA lessees will get some money out of it in addition to recovering the unused portion of the lease (either months or miles).
I saw this on Reddit where someone did a buy back on their lease in CA: https://www.reddit.com/r/BoltEV/comments/mq88e4/california_gm_lease_repurchase_complete_2019_bolt/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
You 100% need to get the damaged fixed. Personally I’m pushing for a MSRP/trade swap for another GM vehicle (acadia). They WILL NOT put you into a 2022 bolt/EUV as those are recalled.
That didn’t make sense to me but I must be missing something. Some info is missing. GM paid him back about $4200 of the roughly $9700 he has paid so far for the lease. Presumably the rest of the payments are forgiven. Anyway it’s not clear to me what formula was used determine to the refund or how it would work for a one-pay lease.
Hopefully someone smarter than I can figure it out. 
I believe there’s a standard formula to calculate the amount they deduct from the amount you get back for CA based on its lemon laws. It’s something like:
(MSRP(?) x number of miles driven) / 120000
Amount paid would include all taxes and fees. So if you drove 0 miles, you’d get 100% refund.
If you did a one pay of $5000 and drove 100 miles you’d get back $5000 - $30 = $4970 (this is assuming an MSRP of $36000)
Edit.
I’m not sure if it’s MSRP or the Purchase price but it follows along those lines.
For purchases that makes sense. For leases the divisor should be the lease mileage allowance, not 120000. Otherwise you could do a buyback after using up all 30k miles of your lease and still get 75% of your money back.
Yeah you’re right i don’t think it’s amount paid i think it’s based on the purchase price of the vehicle. Reverse calculating the numbers on that Reddit thread yields a purchase price of $36058.18.
Ok. So something like this for a base Bolt LT with DCFC (MSRP $38295)
5000 miles driven
$5800 paid at lease inception as one-pay
5000/120000 * 38295 = $1595.62
$5800 - $1595.62= $4204.38 refund
Edit: that can’t be. If I drove the half the mileage allowance (15k) then I would get almost nothing back.
There’s probably a value used that’s proportional to the lease payments (whether it be monthly or one pay)
so that if you drove 36k miles for example you’d get 0 back (assuming 3yr/10k mi lease).
I just received a call from the repurchasing department and confirmed that I would like to proceed with an early lease termination with no penalties. Which was the only option they offered me outside of keeping the car.
Will update with the turn around time between now and when they actually arrange disposition.
Is that what you wanted? I wouldn’t take that offer with my lease terms.
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They called on a Saturday? When did you make your buyback request? It sounded like the terms would have been better than that since you said that VA lemon laws are pretty good.
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Unless you absolutely don’t want to have the car sitting around, termination alone seems to me like a lousy offer given the situation. Especially considering there isn’t a decent alternative anywhere near this price point in this market.
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I agree. Definitely lousy terms, but I’m about to be a first time father so color me extra paranoid about the safety of my family right now.
Might just go the “buy a Tesla” route, but I will caveat that with I haven’t received the official offer so maybe they might offer to reimburse my payments. Might push for that too.
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They actually called yesterday afternoon. Just didn’t find the time to post an update.
If I could MSRP swap into a vehicle and have the same lease terms that would be my preferred option, but it wasn’t pitched. I just want to be made whole. So as long as I don’t see myself going into the red, I’m not under the expectation that GM owes me anything.
Given the current market, voiding my lease would not make me whole since I would no longer have an equivalent (or any) vehicle at the same lease payment.
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That is what I’m seeing as well. Only thing I can see getting remotely close is a Nissan Leaf and those seem to be slim pickings in my area.