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Welcome to Ask Clark, a column designed to answer your financial questions, by money expert Clark Howard.
Indra asks: “I have a 2020 Chevy Bolt with 25,000 miles on it. It has been recently recalled because of a battery malfunction. What are my options? Should I wait for it to get fixed or do the buyback?”
Clark says: Instead of doing a vehicle buyback, it’s best to wait for the Chevy Bolt’s battery to be replaced.
All models of the Chevy Bolt are being recalled due to the risk of the battery catching fire.
Because of this, Clark says, “Rule #1: If you have a Chevy Bolt, park it outside and not in a garage.”
According to CNN, General Motors has been buying back the vehicle but not in all cases. And some owners say the process is frustrating and arduous.
“We continue to weigh buyback requests individually and will continue to do so until we have completed the necessary replacements,” GM spokesman Kevin Kelly told Mashable.
On GM’s Recall Information page, the automaker says it has set up a notification process to let affected customers know when their replacement battery modules will be available and has also added a warranty.
“The new batteries will include an extended battery 8-year/100,000-mile limited warranty,” it says on the page.
When you consider all this, Clark says it’s best to wait for your Chevy Bolt to be made safe again.
“I would park the Bolt outside until you work your way up the list and they replace your battery pack and then … the most expensive component of that Bolt will be brand-spanking new and safe,” Clark says.
To hear Clark’s full take on this question, listen to the segment:
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If you have a question but don’t want it included in the podcast, contact Clark’s Consumer Action Center for free money help.
This post was last modified on November 10, 2021 7:25 am
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