I think (with exceptions around income restrictions, maybe?) everyone would qualify for the $7,500 on the Lyriq. And none of us got that credited on our Bolt purchases, so I don’t think there’s any way we’d be disqualified. I’d probably private sell the '23 Bolt EUV and buy the '23 or '24 Lyriq as a separate transaction. That is, if we choose to go that route. We might just keep the new Bolt.
Final update that we completed the swap today. Pretty painless and took about 1.5 hours at the dealership. The only issue we’re having is the fact that the Camera and Climate buttons both don’t work. And the car can’t seem to connect to Onstar (you have to do it to stop getting emailed diagnostic updates on the old car). Wondering if we’ll just have to take it back in to the service department and have them reset it. A little annoying. But the '23 EUV is way less ugly than the old '21 Bolt EV.
I was a bit bummed that I asked them to check every box to bump the MSRP as high as possible, but they missed a couple of things. I guess when we ordered it back in June, there were a handful of little options (ie illuminated charge port) that were unknowns. So our MSRP ended up being $37,xxx instead of $38,xxx.
However, the dealer did request a $500 Evgo credit for us. Apparently we’ll get an email about it later, but that was kind of a nice little add-on.
3 Likes
Thanks for the update
Thanks for the reply.
My Bolt EV’s MSRP was $35750. I priced on-line a new Bolt EUV LT with options and it comes to $37580. Does that mean I can pay the difference of $1830 and have a new car?
What about my original residual value? Will that stay the same after the swap?
The 2022 EUV model has a purchase cash allowance of $6300. Can I get that if I do the swap? BTW, I live in California.
Thanks.
The way SoC works has been thoroughly explained on this thread multiple times.
If you want to substitute into a car with a higher MSRP you will pay the difference.
SoC in takes your existing lease contract and literally swaps out the VIN of your old car to the VIN of your new car. Residuals stay the same.
As for the $6300 purchase incentive, that also has been talked about several times in this thread. I recommend you search and scroll up as different people have had different experiences.
3 Likes
I’m still a little confused about the $6300 purchase incentive for 2022 Bolt EUV. I live in California. My understanding is that in California, for a SoC, they won’t refund me if my new car has a lower MSRP. What about this $6300 incentive? Is it part of the purchase agreement or do they send out rebate checks? Will I be able take advantage of it?
Thanks in advance.
You’re confused because people in CA have had different experiences. Most people don’t get the $6300 nor are they really eligible for it. The ones that did get it were lucky to receive it. To get a direct answer you should talk to the RC.
2 Likes
Is there any concrete info about 2023 tax credit or still all speculation?
yep, don’t worry about if you are eligible for the $6300 incentive which you are not for a SOC. Just order a 2023 with the lower MSRP like many others here are doing from California. Get in touch with the California team and they should be able to help locating one for you.
Did anyone try to get out of a lease with the newly swapped car after SOC? I think I would be in +10K in profit if I could sell it to CarMax, but I can’t with a GM lease. Is there any way around it other than paying it off myself and then selling it to CarMax?
Another question! I can sell it to a Chevrolet dealership without an issue. Do they pay well for new 2023 EUVs? Any experience?
The only option to do CarMax is to buy it out yourself. Other options are to do a lease transfer in state and have the buyer give you some cash down to capture the equity.
You can sell it to a Chevy dealer, they would most likely pay you slightly below market because they know for a lease the buyer pool is smaller. I would quote a few different Chevy dealers in your general area to see where the offers land. You could create a small bidding war if your area has high demand for EVs.
Let us know what quotes you get if you ask dealers about buying your replacement Bolt.
When I picked up my replacement Bolt the dealer didn’t have my updated contract, and I think this will come from GM Financial to me directly. So I don’t think I would have been able to sell the car to the dealership the same day of the swap. maybe there is a way but the staff at the dealership had enough trouble just doing the swap paperwork that a lease buyout would probably have been too much for them.
1 Like
This is what I was thinking. Thanks
Just picked up the 2023 EUV Premier from Simpson Chevrolet Irvine (Randy).
I asked him if they would repurchase it immediately before I drove it off the lot. He said they couldn’t do that before it was registered.
I liked this car more than I thought I would, so I may keep it for another 1.5 years and then look for an exit.
2 Likes
Great Sandwiches at Bahn Mi Che Cali down the block across from Target!
1 Like
They’re $6 now which is insane. Gone are the days of $3.50 B2G1.
2 Likes
Have any of you guys seen the MFs on the Bolts now? I checked Edmunds and a Premier is 0.00459 
Those of you with leases that completed swaps, how long did it take for GM Financial to update their side with new VIN after completing swap?
By me it took 6 weeks.
2 months for me