Yes, I’m aware but I was hoping that GM would make exceptions after realizing that those who leased were also affected by the price drop.
I found the post from Aug 3 of a LH member with a SOC lease swap who reported getting the letter:
He received the letter. Did he confirm he received the check? This is probably a rare case.
@in8dc case may have been a stroke of good luck. I did have a friend who did a one pay lease SoC in CA who got money back because his replacement car MSRP was $2k less. He had an RVDC that didn’t know the process very well and cut him a check. Like you he’s also waiting for his $5800 check. Haha
GM states clearly that it’s for purchases only. Either people are slipping through the cracks or none of those people are actually getting checks.
There have been a ton of SOCs here since this began, and most of those ppl early on got into new 2022s. It doesn’t appear people are getting the letters.
Just don’t want people getting their hopes up on something that doesn’t seem to be true.
My friend got the check. He didn’t do an SOC, instead they did repurchase and he used like $12k credit to lease a new premier from 2020 LT. it was leased like 1 or 2 days prior to GM announcement of the reduced price of 2023 or the $6300 purchase rebate. I did the SOC on 6/9. Didn’t get anything. So either he slipped through the cracks or there was some cutoff date.
Again, these people are either financing or the wrong people are getting the checks. Otherwise, we would all be swimming in 5800 dollar checks.
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I would happily take a 2022 with fewer options and a $5800 check over a maxed out 2023 Bolt and no check.
Edit: I know that’s not the deal, just saying…
Lol I’d love to be swimming in a 5800 dollar check right now. but yeah I get what you’re saying, chances are those who got the letters might just have slipped through the cracks…
I believe, and I very well be wrong, that when you take that $5800 check you also give up your option to sue/class action regarding anything that might go wrong with the car.
Which, if true, is probably still worth it. But I’m sure the numbers crunchers at GM figured it was cheaper to payoff these buyers than to face future litigation risk.
Car companies are not known for “doing the right thing”!
I did a SOC on a prior lease of a 2020 Bolt and I received the offer letter for the sales incentive of $5800 to match the price reduction on 2023 models.
according to the letter, I have until 12/31 to accept the offer. waiting to receive my rental reimbursement before I start the price reduction process.
I think the SOC already prevents you from suing. So makes sense to just take the 5800.
For reference for members here, when did you do the SOC?it seems most people aren’t getting the letters.
my SOC completed back in May of this year. received the offer letter via fedex in July.
What exactly is the offer? $5800 as a check? Or is it a $5800 incentive towards a purchase or lease of another car?
the letter stated that it’s in the form of a reimbursement check
I had a discussion with my repurchase rep today, as she was able finally receive my invoice. I did not get a formal offer letter but I was asked whether I wanted Substitution of Collateral or a trade into an entirely new lease. Given the current conditions I chose the SOC for obvious reasons. I will be receiving the MSRP difference (approx $4,800) in the form of a check and my Bolt Premier will be swapped for the 2023 Bolt EUV Redline I ordered. ETA for the new car is 9/25 at the moment so hopefully this will all be wrapped up by the end of the month.
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Congratulations!
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What was the week of manufacturing for the new car? Trying to figure out the time it takes between that and when people get their replacement Bolts.
My production week was 8/8, ordered 6/25 I believe.
Data points,
- Texas, Substitution of collateral
- EUV Ordered November 2021, Shipped Feb 2022, Delivered May 2022
- Rear ended by a truck June 2022
- Received the car after the fix Sept 2022
- Received the reimbursement check Sept 2022
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