Buy Back Cars

JLM1956 · 05-19-2019, 12:31 PM

Is the dealer required to disclose they are selling a buy back car?

I did just see a ZL1 on the internet and it was listed as a buy back in the description. They had a pretty good price on it.

Is there a way to find out why it was bought back?

Do any of you own a buy back car?

LT4Greg · 05-19-2019, 12:47 PM

I think they do have to tell you if it is a buyback car. You might get it cheaper than new or used but it will have a branded title which might not be good when you decide to sell or trade it in. I have seen several on Cars.com and in the description is listed as a buyback and even states why it was bought back. Don’t know about the other car sales websites but definitely on Cars.com. I would pass on those cars and look for a CPO/used or even a new one as now is a good time to get a 2018 leftover or a 2019. If you can wait until Labor Day GM gives more incentives to get rid of the older remaining stock because of the 2020s.

Glen e · 05-19-2019, 01:01 PM

Buybacks can be branded or unbranded depending on the state. Yes they should tell you, also they can tell you via the GM distribution system why the car was bought back. It won’t be a lengthy description but it will have a few sentences as to why. Some are perfectly OK, others I wouldn’t go near, anything that has to do with major engine internals I would have a problem with, however if it was bought back because A seat had to be replaced and parts were not supplied in time, I buy that one.

I was in charge of buybacks for the state of Florida for BMW for about 10 years, I once bought a 7 series back because the windshield wipers chattered and the replacement parts did the same thing. It can be major or minor.

LT4Greg · 05-19-2019, 01:10 PM

Wow Glen E, that person really had a bad case of OCD or just couldn’t afford the car after buying and wanted to get rid of it!

Glen e · 05-19-2019, 01:18 PM

Quote:

Originally Posted by LT1Greg

Wow Glen E, that person really had a bad case of OCD or just couldn’t afford the car after buying and wanted to get rid of it!

Nope, he was totally correct. He had a fault in his car and the parts that we put on the car were the exact same parts as the problem parts, so therefore he qualified for lemon law. ( ( BMW couldn’t fix it in 30 days ).....The wipers blades need to be re-designed/respec’d which obviously several months.... this happens among manufacturers quite a bit. The parts in the bin are just as bad as the parts that are defective for a time Period.

sengli · 05-19-2019, 01:22 PM

Not that long a go before I bought my newest ZL1. I was looking at C7 corvettes pretty hard. Found a like new used Z06 vette, same brief description as it was a buy back. Made very nervous. My inquirey stopped right there. In my mind it had to be something pretty major for them to have to buy it back.

F419sr1 · 05-19-2019, 01:24 PM

I showed up on car fax’s when I was looking. I wouldn’t buy one for that reason. Resale will take a bigger hit than the discount your getting.

LT4Greg · 05-19-2019, 01:27 PM

Yeah I forgot about the Lemon law in Florida. When I bought my new 2010 SS at Pete Moore in Pensacola the paperwork included with the sales contract was about the Lemon law.

LT4Greg · 05-19-2019, 01:29 PM

I agree F419!!

TEST DRyVer · 05-20-2019, 06:50 AM

Quote:

Originally Posted by JLM1956

Is the dealer required to disclose they are selling a buy back car?

I did just see a ZL1 on the internet and it was listed as a buy back in the description. They had a pretty good price on it.

Is there a way to find out why it was bought back?

Do any of you own a buy back car?

I have bought several cars in my lifetime, and will hopefully be fortunate enough to keep doing so. I personally stay away from buy backs, salvaged titles, branded titles, or restored titles. Sometimes the buy back is for a silly reason (minor electrical, like the dome lights work intermittently when opening and closing the door. They might of attempted fixing the matter several times with no success, so after enough complaints from the owner, the manufacturer will buy it back, replace several items to finally fix it, then release the car for sale with a branded or lemon law buy back title), other times it's for a really legitimate reason. No matter what the reason, the value is greatly depreciated, and the worst part of all is that they're essentially guessing what the depreciation is. That simply means the car is near new, with 400 miles and an original MSRP of $70k, but after the buy back it's listed for $50k. That's a great savings, right? Maybe not... When you go to resell that car (even that same week since you think you can flip it for a profit, you find that no one is paying over $40k for a car you just spent $50k on. Even more complicated, you have to check with your insurance company. Some insurance companies will not insure a branded, lemon law buy back, salvaged, or restored title. Same goes with financing. There are several banks and credit unions that will not loan money for this type of title. So even if you're buying cash, the next potential owner when you go to sell will run into the same issues.
After all my gibberish, I will say that I have several friends that ONLY buy problem title cars. They might of had good luck with them in the past, and they've learned how to sell these cars when the time comes as well... They mainly do this because they can afford a lot more car for much less money.
If you don't have experience with buy back cars (and don't plan to spend several hours online learning to catch up and really understand the ins and outs of cars with problem titles) I would respectfully advise to stay away and move on...

unavailablezl1 · 05-20-2019, 07:48 AM

Quote:

Originally Posted by Glen e

Buybacks can be branded or unbranded depending on the state. Yes they should tell you, also they can tell you via the GM distribution system why the car was bought back. It won’t be a lengthy description but it will have a few sentences as to why. Some are perfectly OK, others I wouldn’t go near, anything that has to do with major engine internals I would have a problem with, however if it was bought back because A seat had to be replaced and parts were not supplied in time, I buy that one.

I was in charge of buybacks for the state of Florida for BMW for about 10 years, I once bought a 7 series back because the windshield wipers chattered and the replacement parts did the same thing. It can be major or minor.

RainX would have fixed that. Wow. That is picky.

benjaminforeal · 05-20-2019, 08:09 AM

My last car (2018 Ford Mustang GT) was a lemon law. The motor had a terrible rod knock that kept getting worse. I lucked out and actually came out pretty good on the deal, hence why I went to a ZL1. I think it depends on the state, but here in Georgia they have to disclose that it was a buy-back. I posted the VIN# of my Mustang up on a forum thread for people to search if they were competent enough to research before buying. The process overall wasn't that bad, just took a while. Of course, if you are unsure just ask the dealership if it is a buy-back.

05-19-2019, 12:31 PM	#1
JLM1956 Drives: 67 Camaro Join Date: Jan 2012 Location: Minnesota Posts: 27	Buy Back Cars Is the dealer required to disclose they are selling a buy back car? I did just see a ZL1 on the internet and it was listed as a buy back in the description. They had a pretty good price on it. Is there a way to find out why it was bought back? Do any of you own a buy back car?

05-19-2019, 12:47 PM	#2
LT4Greg Drives: 2017 Camaro ZL1 Coupe Join Date: May 2016 Location: Georgia Posts: 5,811	I think they do have to tell you if it is a buyback car. You might get it cheaper than new or used but it will have a branded title which might not be good when you decide to sell or trade it in. I have seen several on Cars.com and in the description is listed as a buyback and even states why it was bought back. Don’t know about the other car sales websites but definitely on Cars.com. I would pass on those cars and look for a CPO/used or even a new one as now is a good time to get a 2018 leftover or a 2019. If you can wait until Labor Day GM gives more incentives to get rid of the older remaining stock because of the 2020s. __________________ ZL1 Coupe, PDR, Exposed carbon fiber hood insert, My Link with Nav, M6 6 speed and Silver Ice Metallic. Mods done: ceramic window tint, GM Accessories Camaro floor mats and Roto-Fab CAI.

05-19-2019, 01:01 PM	#3
Glen e Retired from Car mfrs.... Drives: 2LT RS/HR-V Join Date: May 2013 Location: /Fort Lauderdale Posts: 10,048	Buybacks can be branded or unbranded depending on the state. Yes they should tell you, also they can tell you via the GM distribution system why the car was bought back. It won’t be a lengthy description but it will have a few sentences as to why. Some are perfectly OK, others I wouldn’t go near, anything that has to do with major engine internals I would have a problem with, however if it was bought back because A seat had to be replaced and parts were not supplied in time, I buy that one. I was in charge of buybacks for the state of Florida for BMW for about 10 years, I once bought a 7 series back because the windshield wipers chattered and the replacement parts did the same thing. It can be major or minor. __________________ Glen CLICK HERE for detailing a new car: detailing for non detailers CLICK HERE for how to rinseless CLICK HERE for EASY wheel sealant

05-19-2019, 01:10 PM	#4
LT4Greg Drives: 2017 Camaro ZL1 Coupe Join Date: May 2016 Location: Georgia Posts: 5,811	Wow Glen E, that person really had a bad case of OCD or just couldn’t afford the car after buying and wanted to get rid of it! __________________ ZL1 Coupe, PDR, Exposed carbon fiber hood insert, My Link with Nav, M6 6 speed and Silver Ice Metallic. Mods done: ceramic window tint, GM Accessories Camaro floor mats and Roto-Fab CAI.

05-19-2019, 01:22 PM	#6
sengli Drives: 2015commemorative vert 2SS Join Date: Oct 2013 Location: northern Indiana Posts: 948	Not that long a go before I bought my newest ZL1. I was looking at C7 corvettes pretty hard. Found a like new used Z06 vette, same brief description as it was a buy back. Made very nervous. My inquirey stopped right there. In my mind it had to be something pretty major for them to have to buy it back. __________________ 2018 ZL1 Bright Yellow, A10, PDR, sunroof, carbon hood, and dash- sold 2020 2SS A10 sunroof..shock and steel special-traded 2015 commemorative vert 2ss

05-19-2019, 01:24 PM	#7
F419sr1 Drives: 2017 ZL1 Join Date: Jun 2018 Location: Randolph Posts: 317	I showed up on car fax’s when I was looking. I wouldn’t buy one for that reason. Resale will take a bigger hit than the discount your getting. __________________ Kooks full exhaust, Roto Fab, Whipple,Williams 103, Fore innovation, JRE cam and tuning

05-19-2019, 01:27 PM	#8
LT4Greg Drives: 2017 Camaro ZL1 Coupe Join Date: May 2016 Location: Georgia Posts: 5,811	Yeah I forgot about the Lemon law in Florida. When I bought my new 2010 SS at Pete Moore in Pensacola the paperwork included with the sales contract was about the Lemon law. __________________ ZL1 Coupe, PDR, Exposed carbon fiber hood insert, My Link with Nav, M6 6 speed and Silver Ice Metallic. Mods done: ceramic window tint, GM Accessories Camaro floor mats and Roto-Fab CAI.

05-19-2019, 01:29 PM	#9
LT4Greg Drives: 2017 Camaro ZL1 Coupe Join Date: May 2016 Location: Georgia Posts: 5,811	I agree F419!! __________________ ZL1 Coupe, PDR, Exposed carbon fiber hood insert, My Link with Nav, M6 6 speed and Silver Ice Metallic. Mods done: ceramic window tint, GM Accessories Camaro floor mats and Roto-Fab CAI.

05-20-2019, 08:09 AM	#12
benjaminforeal Drives: 2019 Camaro ZL1 (manual) Join Date: Dec 2018 Location: GA Posts: 44	My last car (2018 Ford Mustang GT) was a lemon law. The motor had a terrible rod knock that kept getting worse. I lucked out and actually came out pretty good on the deal, hence why I went to a ZL1. I think it depends on the state, but here in Georgia they have to disclose that it was a buy-back. I posted the VIN# of my Mustang up on a forum thread for people to search if they were competent enough to research before buying. The process overall wasn't that bad, just took a while. Of course, if you are unsure just ask the dealership if it is a buy-back.

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