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.
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. 
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.
well, yes, but this is the big assumption that adds a significant layer of complication over a collateral substitution on a loan.
a lease is still a loan technically. The whole process right now is a big assumption with not many resolutions. Who’s the captive on GM leases, GM Financial or 3rd party? It would probably be simpler to do substitutions with their own financial arm, but at this point all of this is speculation.
So my GM Financial rep I talked to doesn’t know the answer. I politely asked her to submit feedback up the ladder so that we all can get some clarification on this. Maybe it will be figured out by the time my Camaro is delivered. If not I’ll probably end up doing a lease buyout when I show up at the dealer to take delivery of the Camaro.
Which dealer did you use for the swap? My GM rep is extremely slow at finding a dealership to host.
My dealer agreed to it because I originally leased from them. I wouldn’t want them to get spammed with replacement hosting inquiries.
That’s interesting. My originating dealership turned down the request to host so unless GMF puts their foot down, I would expect other dealerships to do the same.
Yeah, finding dealer hosts seems to be the bottleneck in this process. Have you tried calling any dealerships yourself? I thought I was going to have to do that until my originating dealer came through for me. You might want to clarify you are going to order using an additional allocation (not out of their pot) rather than asking for an in-stock vehicle.
Yep - speaking with GSM of my purchasing dealer tomorrow. Regular sales doesn’t seem to understand what is going on or how it works.
What kind of Camaro did you order?
Pretty cool GM is giving you a Camaro as a replacement for the Bolt (and at the same price)
Thought about a 2SS 1LE for a brief second (would have to pay out of pocket any amount over $39k), but realized I’d rather get a lighter, slower car for the track. Also would want to strip out the interior to put in the safety equipment.
Ended up ordering a LT1 6MT just under my Bolt MSRP. I’m guessing I’ll rarely get to drive it though since my wife’s been itching to get a stick shift for a while. Got the dual-mode exhaust, tech package, and the rest on cosmetic stuff. Really curious to see how all season 245s handle 455HP 
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So, you’re saying that for $116/mo I can swap from BOLT to V8 Camaro for the next 30 months??? I’m right behind ya on that one-but highly unlikely, I’m calling in Monday…will see
I think @mllcb42 is likely correct that I won’t keep the same lease contract. But in either case I’m getting a $39k Camaro for $24k, so if I sell in 30mo I bet I lost less than $116/mo. What matters most is your buyout amount and usage. I had < 1000 miles so minimal impact to buyout amount. They deduct 1/120 of MSRP for every 1000mi you have on the car.
Why can’t we do collateral substitutions for anything else then - houses, boats etc etc?
I’m in the same situation and waiting to hear how they will handle the lease terms. I’m going to argue that with my leases a MSRP swap but not keeping the original lease terms, at least payment, is not a “like vehicle”, and a lemon law lawyer that I contacted agrees…