Oh, lol, I missed the part about it being a grand caravan! Oops.

 

yeah, from how it looks I'm just gonna try getting new bits and continue drilling out the bolt. I'll get on and post an update when i get it done. Thanks for the help though guys!!

 

I know this may be common sense. But, make sure you use some penetrating fluid too if the lug is seized to the stud. After spraying the penetrating fluid on there tap the lug with a hammer a bit. The vibrations will work the fluid in there a bit. Also, if you get a long breaker bar (like 4ft or more) you can gradually apply pressure which will give you more control and make is less likely that you will apply lateral force and round it more.

lastly a dremel is a really small tool that could work with the cut-off wheel and may get into the small spaces. But you'll need quite a few cutting disk.