How to use GM rewards points to purchase at lease end?

Ask the Hackrs
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1

My 2023 Bolt lease ends in a month. It’s with GM Financial. It was a one pay lease and the car was swapped from a 2020 Bolt to 2023 Bolt in early November 2022. I want to buy the car using $400+ in GM Rewards points (the loyalty program not the credit card) towards the purchase price.

It looks like on the gmfinancial website in my account I can apply points, but it’s not clear if those points will be applied to the payoff amount. It shows I have one monthly “payment” left, due in 10 days, but that’s not a real payment since it’s a one pay lease. If I apply my points will it go against the faux payment due or to the payoff? I called GM Financial and they redirected me to Rewards because they didn’t seem to know.

I just want to buy out the car and use the points. Should I use a dealer for this or GMF? Asking on here in case someone has done this before.

2

@chevysalesgirl - do you know?

3

you can apply up to $500 in points to your monthly payment but that’s about it - if i remember correctly there’s a yearly limit which is also….$500

4

I did a one pay lease. If I apply the points in my GM Financial account, will it reduce my payoff?

I’m trying to find someone at GMF who knows but so far I haven’t been successful

5

my understanding is points are only used towards CPO and new purchases not lease buyouts.