Volt buy back question

[SIFU]

Has anyone here gone through the buy back program? How much did you lose and the date and miles that you bought your Volt. What was your offer?

[ChasSidwa]

14K on mine and loving it. No buyback for me!

[Steverino]

I saw one post on another forum from someone complaining because they were not going to get what they paid for it. So expect to be disappointed if that's what you are thinking. On the bright side, some very fortunate person at GM will get a really good deal on your car and enjoy the heck out of it. Of course, you could always just sell the car yourself.

You apparently lose (give back to GM) your $7500 tax credit as well as any depreciation.

[Chris Harvey]

Has anyone here gone through the buy back program? How much did you lose and the date and miles that you bought your Volt. What was your offer?

I'd hate for this to turn into a "let's slam SIFU" thread.. but I'm just wondering why you might be considering the buy-back program, if indeed you are?

Perhaps GM can learn from anything you can tell them, and we know they read these forums.

[saghost]

Apparently there are some, because Mr Akerson bought a car GM bought back according to the congressional hearing.

Having said that, I haven't heard of anyone who gave the car back to GM. I'd be kinda surprised if the option is still open, now that the investigation is over and the fix is out there.

Can I ask why you're considering it now?

[Matt979]

As the issue is fixed the buy back program is not active anymore, so no point wasting effort on finding out what you get.

[kickincanada]

SIFU - the Volt buyback program is over! It was for anyone who felt "unsafe" in the car. Just cause you don't like it is not a reason to turn it in. It is a fantastic car. Buyers remorse doesn't count.

[Steverino]

I saw a quote by a California doctor who turned his in apparently because the estimated battery range declined as the weather got colder. That clearly was someone taking advantage of the buyback offer for something other than a safety concern. Not much different than, "Hey, my windows fogged up, buy back the car!"

[Mark Z]

Last December, the Volt buyback process could be started by calling the Volt Advisor and requesting buyback.

Each state may be different, but in California, Chevrolet deducted usage and tax credit from the base price, registration, license, title fees, sales tax, and document fee. At about 7,900 miles, that amount of usage calculates to about $2,900. IRS form 8936 is used to determine the tax credit. Only the amount of credit received is deducted. A check with the amount of the offer is handed to the person when the vehicle is returned.

A refund for Major Guard vehicle warranty coverage must be requested. The dealer has the forms to sign and the check arrives by mail a few weeks later.

The vehicle had to be free of damage, alterations, with free and clear title and all factory installed equipment intact and functional. The customer had to sign a power of attorney form for titling purposes and sign the odometer disclosure statement. Any cash back, rebate or incentive (ie: tax credit) would not be applicable to the offer. That is why the tax credit is deducted.

What happens to the Volt? That is a mystery but it doesn't get sold at the dealer. The dealer may drive it for a day to check for proper operation, then leave it stored in the back lot before it is eventually hauled back to GM. According to the dealer, buyback vehicles may be sold at auction, used by GM for testing or possibly crushed.

[rickthestick]

CRUSHED?!? Oh no, not again!