After two major recalls related to fire risks, Chevrolet announced that it would repurchase or “buy back” certain 2017-2019 model year Chevrolet Bolt EV vehicles. The auto company has already spent well over $800 million in costs related to the Bolt fire recalls. Currently, Chevrolet is responding to buyback requests from customers on a case-by-case basis.
If you own a Chevy Bolt, you should review your legal options as soon as possible. At least 12 car fires have been officially linked to manufacturing defects in certain 2017-2018 Bolt cars. It is extremely dangerous to own a vehicle that can potentially catch on fire at any time.
Chevrolet may offer to repurchase your vehicle; however, we recommend that you work with a California lemon law expert in order to ensure you are getting what you are entitled to for your lemon law claim. To file a lemon law claim, it is recommended that you have the assistance of a reputable lemon law attorney to protect and advocate for your consumer rights.
How Does a “Buyback” Work?
A buyback or repurchase occurs when the auto manufacturer agrees to reimburse you for the money you spent on your defective vehicle. The manufacturer is allowed to deduct a usage fee for the time that the vehicle was driven trouble-free. You may be eligible for a Lemon Law Buyback under the California Lemon Law if your car develops issues during the warranty period and the manufacturer is unable to correct your car’s issues after a reasonable number of repair attempts.
Even if your vehicle does not satisfy the legal requirements to be considered a “lemon,” you may still be eligible for cash compensation covering the diminished value of your car. In these cases, manufacturers offer what are known as “cash and keep” settlements. If your vehicle is legally determined to be a lemon, then you could be eligible to receive a replacement vehicle or a lemon law buyback.
Can I Calculate My Bolt Buyback Price?
It is possible to estimate what you could receive in a Chevy Bolt EV buyback. You can use our Lemon Law Refund/Buyback Calculator to help you determine what you could receive through a buyback agreement. You can begin by clicking HERE.
Your lemon law refund is based on:
- Down payment
- Monthly payments
- Remaining loan balance
- Any out of pocket incidental expenses related to the lemon
These same terms apply if you are leasing your vehicle, with your lease obligations being paid off instead of a remaining loan balance. Our Buyback calculator takes this information into account to give you an estimated price for your Lemon Law Buyback or Repurchase.
Please note that our refund calculator neither guarantees nor predicts future outcomes. Each lemon law case is different and must be reviewed individually with the assistance of a highly skilled lemon law attorney. Additionally, this calculator does not include the expense of hiring a lemon law attorney.
How Long Does a Buyback take?
This largely depends on the unique facts in your case. Some cases can be quick and only take 4-6 months to resolve while others can take over 1 to 2+ years to resolve. This answer really depends on the specific circumstances surrounding each individual lemon law claim. Once a lemon law repurchase is offered and accepted, however, the remaining time on the case is a lot faster. This process of surrendering the vehicle usually takes about 45 to 60 days.
Is This Buyback Time Sensitive?
Yes, California’s Statute of Limitations for Lemon Law Repurchases is four years, meaning that you have four years from the date in which lemon problems appeared in your vehicle to file a claim. We recommend that you file your claim as soon as possible in order to avoid any potential statute of limitations issues.
Should I Enter the Buyback Program by Myself?
You can enter the Chevy bolt buyback program on your own, however, it is recommended to have an attorney represent you with your individual lemon law claim.
As a prevailing party, the auto manufacturer pays for your attorneys fees and costs. Thus, there is no out-of-pocket expense to you to hire an attorney, which makes this an easy and smart choice. The California Lemon Law is nuanced and needs to be applied specifically to each individual case. Having a knowledgeable lemon law attorney represent your interests can make the process a lot easier for you.
If you decide to file an individual claim, you will need the assistance of an experienced lemon lawyer in your area. If you live in California and have questions about a lemon you have recently leased or purchased, you have come to the right place.
The Lemon Law Experts have been successful in securing Chevy Bolt EVs repurchases for California clients with zero out-of-pocket costs to them. We can review your case and help give you a better idea of what you could receive in financial compensation for your lemon.
We have helped thousands of California consumers recover millions for their lemon law claims, as the state’s leading lemon law firm. We are more than well-equipped to help you get the compensation and justice you deserve. To find out if you qualify, give us a call at 887-885-5366 or fill out an online case evaluation today.
