Hi all so I took advantage of the CVAP ($5,000.00) and CVRP ($4,500.00) back in March 2021 and picked up a 2021 Chevy Bolt EV from Ethan with 36 month 10k miles. I did the one pay option of $7,600.00 which left me with positive $1,900.00 after I got my rebate. I also got $1,000.00 free credit from EvGo and a free level 2 fast charger with GRID (about $500.00 retail value).
Roughly my residual on the 2021 Bolt is ~21k
Fast forward a year I get mail from GM about the Bolt recalls. I took advantage of this and worked with GM repurchase department to make an order for a 2023 Chevy Bolt EUV Premier Edition. I also included the Redline Package, Sun and Sound Package, and Supercruise Package. This came out to roughly ~39k MSRP.
Doing this I was able to keep my same residual and my $0/mo payment until my maturity date of March 2024.
Fast forward to 11/08/2022 I finally picked up my 2023 Chevy Bolt EUV Premier. I will save you all the boring details but essentially I had to find a dealer who was willing to do this repurchase. Luckily my local dealer was willing to do it because I have bought over 4 cars from them in the past 4 years.
My purpose of this post is not to just brag about getting PAID to drive a car for 3 years but more so to get advice on what to do now.
Option 1 - Drive the car until my maturity date and pay $0/mo and return the vehicle
Option 2 - Sell to a 3rd party and cash out my positive equity (anywhere from 12-20k ((depending on who I work with (((Please give me some referrals)))
Option 3 - Anything else you all may suggest?
I know that I could have also purchased any GM vehicle (such as a Tahoe) but no dealer was willing to sell me a Tahoe at sticker. If I went with this option I just had to pay the difference between my MSRP and the MSRP of the new car. Here is a post of someone on Leasehakr who did this successfully. Cheapest Bolt/Tahoe on LeaseHackr?
Looking forward to hearing all your responses and coming up with a solution together. My end goal was to essentially take the equity I make and put it towards a Tesla Model 3. Please give me some other solutions. I LOVE electric vehicles since I had my electrician install a fast charger for me. I would also love a truck.