GM Buyback Question

Fraxum · 02-15-2016, 04:24 PM

Has anyone here been through a GM buyback? Did you have to pay full list for the replacement car?

Smithr66 · 02-15-2016, 07:16 PM

I'm in the middle of one right now with my silverado (camaro is replacing it). No incentives or rebates apply to the replacement car. However, in my situation all equity I have in my silverado plus incentives that were used when I bought it are being applied to my camaro. I got lucky, not all buybacks are the same. Good luck! GM should take care of you as they did me!

cooley376 · 02-15-2016, 10:17 PM

It all depends on your state laws. The manufacture must go by those laws or they risk getting sued by you and losing. A buyback is just a settlement. I just went through this with my wifes jeep. In the end the consumer almost always wins if you have a true lemon. Most of the time you should get back every penny you have put into the vehicle. Down payments, trade values, payments, taxes and anything else you put into it. Then mileage is deducted per your state laws. Then they take the vehicle and you take your money and go buy something else. They have no say so in what you buy or what deals you get, unless you bend over and settle in their favor.

cooley376 · 02-15-2016, 10:21 PM

If you have a lemon and the manufacturer won't treat you right then get an attorney. That's what we did and Chrysler is losing big time in our deal. Good thing we have that attorney too because it looks like I may have to use them for this new camaro.

PolishCamaro · 02-16-2016, 02:44 AM

I am going thru one right now... Don't know how the process works, but hopefully I can get my current leased paid off and jump into a new 2016 SS. I got a lemon lawyer!

fitguy913 · 02-16-2016, 07:43 AM

I just finished the process. I had to sue GM to get them to take back my Cadillac ATS (2.0T - motor blew up twice in first 4000 miles). There is nothing smooth about the process. If you have questions, PM me and we'll chat.

cooley376 · 02-16-2016, 07:51 AM

It's all hit or miss. Have known people with minor issues get their vehicle bought back with no problems. Have known some that had to get a lawyer and Sue the manufacture like we did because of major issues. I wouldn't jump into the camaro though, way to many issues. I jumped into mine and am now in the same boat my wife was in. At least my camaro is a piece of junk.

Mr Monte · 02-16-2016, 08:21 AM

Quote:

Originally Posted by cooley376

Good thing we have that attorney too because it looks like I may have to use them for this new camaro.

What issues are you having? I'm waiting at least a year so hopefully the bugs get worked out. My 2012 Camaro 2SS was perfect.

cooley376 · 02-16-2016, 11:05 AM

Loose fasteners under hood. Missing airbox grommet. Warped hood vents. Engine misfires. Rear end problems, acting like locker. Gouged interior plastic. Broken passenger seat back. Bad hvac seals making loud fluttering. I think that's it, that's just off the top of my head.

cooley376 · 02-16-2016, 11:06 AM

Dealer is giving me a hard time. They don't want to document the issues. When they do and I go back those issues are mysteriously not in their system any more.

Fraxum · 02-16-2016, 12:41 PM

Wow, not sure how this would all work out in NJ. My ZL1 has been at the dealer since November.

Are we saying not to buy a new Camaro in general?

As for me what I think I know is that GM is buying the car from the dealer at true dealers cost whatever that is and then selling it to me at MSRP. They told me no incentives. So I called a dealer and they gave me a pretty good price with no incentives. I told them what the dealer offered me, but they said they will do this only at MSRP.

They are giving me full value for what I paid for my used ZL1 and paying for part of the deal costs. But with paying $2K more for the car than I would have otherwise. But as a trade I am paying no tax. So if I took the cash I would be paying tax again. So the only way I can look at this is I had my ZL1 for 2K miles. So that's 1$ per mile.

I really want this to be over, but at the same time I do not want to be foolish.

On one side I am happy with GM and the dealer for working with me, on the other I feel a little bit at the bad end of a deal.

fitguy913 · 02-16-2016, 12:48 PM

New Camaro is badass. I love mine. GM had to acquire my ATS as part of a settlement agreement and then provide me with my Camaro. If GM customer service (which is really Morley Companies) doesn't give you any play, sue. Close to 90 days in the shop should give you grounds for a lemon law claim. Most LL attorneys take the cases on contingency so you don't have to pay out of pocket - the defendant pays your attorney. I'll try to scan my buyback paperwork and scrub all my info from it and post it here to give you an idea of what the actual buyback at the dealership entails when you are wrapping things up.

Sent from my iPhone using Tapatalk

63falcondude · 02-16-2016, 01:21 PM

Quote:

Originally Posted by Fraxum

Wow, not sure how this would all work out in NJ. My ZL1 has been at the dealer since November.

Are we saying not to buy a new Camaro in general?

As for me what I think I know is that GM is buying the car from the dealer at true dealers cost whatever that is and then selling it to me at MSRP. They told me no incentives. So I called a dealer and they gave me a pretty good price with no incentives. I told them what the dealer offered me, but they said they will do this only at MSRP.

They are giving me full value for what I paid for my used ZL1 and paying for part of the deal costs. But with paying $2K more for the car than I would have otherwise. But as a trade I am paying no tax. So if I took the cash I would be paying tax again. So the only way I can look at this is I had my ZL1 for 2K miles. So that's 1$ per mile.

I really want this to be over, but at the same time I do not want to be foolish.

On one side I am happy with GM and the dealer for working with me, on the other I feel a little bit at the bad end of a deal.

Stay strong and good luck! Nice looking Gen 5's in your sig. Where in NJ are you from?

Fraxum · 02-16-2016, 03:18 PM

Quote:

Originally Posted by 63falcondude

Stay strong and good luck! Nice looking Gen 5's in your sig. Where in NJ are you from?

South Joisey.

Thanks for the encouragement. I think I will take my chances with a new Camaro.

Also 63falcondude, a '65 6 cyl auto White Falcon Futura coupe was my first car. At 16-17 I transplanted a Winsor 351 and a 4M Top loader into that sleeper. I wish I never sold it. Ford would have never bought back that car.

02-15-2016, 04:24 PM	#1
Fraxum Drives: a M6 LT1 ordered From Becky!!! Join Date: Jan 2010 Location: NJ Posts: 7,520	GM Buyback Question Has anyone here been through a GM buyback? Did you have to pay full list for the replacement car? __________________ "Democracy Dies in Darkness" My LT1 Keeper ..... ..... My Car Blog CarPlayList, a free App to build USB and Android Music drives.

02-16-2016, 02:44 AM	#5
PolishCamaro Drives: 2014 Camaro RS active dual exhaust Join Date: Nov 2013 Location: Los Angeles Posts: 8	I'm going thru one as we speak I am going thru one right now... Don't know how the process works, but hopefully I can get my current leased paid off and jump into a new 2016 SS. I got a lemon lawyer!

02-16-2016, 07:43 AM	#6
fitguy913 Drives: 2016 Camaro 2SS Join Date: Oct 2015 Location: Kansas City Posts: 143	I just finished the process. I had to sue GM to get them to take back my Cadillac ATS (2.0T - motor blew up twice in first 4000 miles). There is nothing smooth about the process. If you have questions, PM me and we'll chat. __________________ Hyper Blue Metallic 2SS, Manual, Magnetic Ride Control (MRC), Dual Mode Exhaust (NPP), 6-Piston Brembo Brake Kit (5LQ), 5-Split Spoke, Low-Gloss Black Wheels (56F), No Sunroof, #1 Customer ProCharger Kit, GForce Engineering axles, GForce Engineering drive shaft

02-16-2016, 12:41 PM	#11
Fraxum Drives: a M6 LT1 ordered From Becky!!! Join Date: Jan 2010 Location: NJ Posts: 7,520	Wow, not sure how this would all work out in NJ. My ZL1 has been at the dealer since November. Are we saying not to buy a new Camaro in general? As for me what I think I know is that GM is buying the car from the dealer at true dealers cost whatever that is and then selling it to me at MSRP. They told me no incentives. So I called a dealer and they gave me a pretty good price with no incentives. I told them what the dealer offered me, but they said they will do this only at MSRP. They are giving me full value for what I paid for my used ZL1 and paying for part of the deal costs. But with paying $2K more for the car than I would have otherwise. But as a trade I am paying no tax. So if I took the cash I would be paying tax again. So the only way I can look at this is I had my ZL1 for 2K miles. So that's 1$ per mile. I really want this to be over, but at the same time I do not want to be foolish. On one side I am happy with GM and the dealer for working with me, on the other I feel a little bit at the bad end of a deal. __________________ "Democracy Dies in Darkness" My LT1 Keeper ..... ..... My Car Blog CarPlayList, a free App to build USB and Android Music drives.

02-16-2016, 12:48 PM	#12
fitguy913 Drives: 2016 Camaro 2SS Join Date: Oct 2015 Location: Kansas City Posts: 143	New Camaro is badass. I love mine. GM had to acquire my ATS as part of a settlement agreement and then provide me with my Camaro. If GM customer service (which is really Morley Companies) doesn't give you any play, sue. Close to 90 days in the shop should give you grounds for a lemon law claim. Most LL attorneys take the cases on contingency so you don't have to pay out of pocket - the defendant pays your attorney. I'll try to scan my buyback paperwork and scrub all my info from it and post it here to give you an idea of what the actual buyback at the dealership entails when you are wrapping things up. Sent from my iPhone using Tapatalk __________________ Hyper Blue Metallic 2SS, Manual, Magnetic Ride Control (MRC), Dual Mode Exhaust (NPP), 6-Piston Brembo Brake Kit (5LQ), 5-Split Spoke, Low-Gloss Black Wheels (56F), No Sunroof, #1 Customer ProCharger Kit, GForce Engineering axles, GForce Engineering drive shaft

02-15-2016, 07:16 PM	#2
Smithr66 Drives: 2016 Camaro RS Join Date: Jan 2016 Location: Madison, In Posts: 70	I'm in the middle of one right now with my silverado (camaro is replacing it). No incentives or rebates apply to the replacement car. However, in my situation all equity I have in my silverado plus incentives that were used when I bought it are being applied to my camaro. I got lucky, not all buybacks are the same. Good luck! GM should take care of you as they did me!

02-15-2016, 10:17 PM	#3
cooley376 Drives: 2016 Camaro 2SS Nightfall Join Date: Jan 2016 Location: middle tn Posts: 46	It all depends on your state laws. The manufacture must go by those laws or they risk getting sued by you and losing. A buyback is just a settlement. I just went through this with my wifes jeep. In the end the consumer almost always wins if you have a true lemon. Most of the time you should get back every penny you have put into the vehicle. Down payments, trade values, payments, taxes and anything else you put into it. Then mileage is deducted per your state laws. Then they take the vehicle and you take your money and go buy something else. They have no say so in what you buy or what deals you get, unless you bend over and settle in their favor.

02-15-2016, 10:21 PM	#4
cooley376 Drives: 2016 Camaro 2SS Nightfall Join Date: Jan 2016 Location: middle tn Posts: 46	If you have a lemon and the manufacturer won't treat you right then get an attorney. That's what we did and Chrysler is losing big time in our deal. Good thing we have that attorney too because it looks like I may have to use them for this new camaro.

02-16-2016, 07:51 AM	#7
cooley376 Drives: 2016 Camaro 2SS Nightfall Join Date: Jan 2016 Location: middle tn Posts: 46	It's all hit or miss. Have known people with minor issues get their vehicle bought back with no problems. Have known some that had to get a lawyer and Sue the manufacture like we did because of major issues. I wouldn't jump into the camaro though, way to many issues. I jumped into mine and am now in the same boat my wife was in. At least my camaro is a piece of junk.

02-16-2016, 11:05 AM	#9
cooley376 Drives: 2016 Camaro 2SS Nightfall Join Date: Jan 2016 Location: middle tn Posts: 46	Loose fasteners under hood. Missing airbox grommet. Warped hood vents. Engine misfires. Rear end problems, acting like locker. Gouged interior plastic. Broken passenger seat back. Bad hvac seals making loud fluttering. I think that's it, that's just off the top of my head.

02-16-2016, 11:06 AM	#10
cooley376 Drives: 2016 Camaro 2SS Nightfall Join Date: Jan 2016 Location: middle tn Posts: 46	Dealer is giving me a hard time. They don't want to document the issues. When they do and I go back those issues are mysteriously not in their system any more.

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