Gm Buy Back Question
Thread Starter
Racer
Joined: Jan 2006
Posts: 360
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From: Danbury Iowa
Gm Buy Back Question
I currently own a C4 and may be looking to update. I have located a car that is close to what I have been looking for and the car fax show an alert that the vehicle was a GM Buy back. What does everyone think about buying something like this and how much would it discount it down the road? Thanks for your help.
Le Mans Master
Joined: Feb 2003
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From: The line waiting to see Santa Claus stretched all the way back to Terre Haute, and I was at the end, Indiana
St. Jude Donor '08-'09-'10-'11-'12-'13-'14-'15-'16-'17-'18
These things can be funny. I friend of mine has a used car lot and found a practically brand new 2005 C6 at the auction. It was listed as a buyback and listed several problems with the electrical as the reason. The price was stupid low and he bought it on a gamble. Apparently, the dealership just could not locate and fix the problem. He took it to a local dealership that deals and works on a lot of Vettes. Their top mechanic diagnosed it quickly and they replaced a couple of modules UNDER WARRANTY. He drove it hard for 3-4 weeks without a single problem. Put it on the lot, sold it right away and made some serious money. The customer has driven it for a while with no complaints. On the other hand I have seen cars (and bikes, I have a custom bike shop) that just refuse to get fixed.
Safety Car
Joined: May 2004
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From: Naples Florida
So you want to buy a car that has been plagued with so many problems and been to the dealer so many times, that GM was forced to buy it back? Buy it! I am sure you will have no trouble at all.
Le Mans Master
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From: AKA Harvey Mushman-I know just enough to be dangerous "Those who sacrifice liberty for safety deserve neither"- B. Franklin
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Cruise-In V Veteran
Originally Posted by TomT
My only question is:
Do you feel lucky today, well, do ya?
Do you feel lucky today, well, do ya?
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Pro
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From: Edmond Ok
Originally Posted by triple black c4
I currently own a C4 and may be looking to update. I have located a car that is close to what I have been looking for and the car fax show an alert that the vehicle was a GM Buy back. What does everyone think about buying something like this and how much would it discount it down the road? Thanks for your help.
I would find out why it was bought back. If you can get the previous owners name and number talk to him/her. Also post the Vin and have someone on the forum run the service history. It could be an **** owner that gave the dealer so much greive they gladly got GM to do the buy back. You did not say which year, but there was a lot of annoying problems with the early models that would frankly pi$$ me off if I spent $45K on a car and the leather in the seat bolster tore, or the oil pressure sending unit went south, or there was a noisy fuel pump, fuel gage prob. etc. If all the problems were corrected you may have a good deal on your hand, use it and bargin the price down. But you know the saying "Buyer Beware" still holds.
Racer
Joined: Apr 2006
Posts: 389
Likes: 1
From: Refineryville Texas
I had the same idea and went to a friend who is a large wholesaler and he would have nothing to do with getting me into a "buy back".
Too risky, was his response. Sometimes on a buy back, they wash their hands of it, is what I was told.
That should tell ya something.
Too risky, was his response. Sometimes on a buy back, they wash their hands of it, is what I was told.
That should tell ya something.
Safety Car
Joined: Feb 2004
Posts: 3,802
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From: monroeville pa
St. Jude Donor '04-'05-'06-'07-'08-'09-'10-'11-'12-'13
When my dad passed away many years ago GM bought his car back but my dads car was in perfect condition with no problems the dealer knew how his car was taken care of.So i would check into this car first before you do something you will be sorry for later on.
Last edited by charlene; Jun 8, 2006 at 02:11 PM.
Team Owner
Joined: Oct 2001
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From: Boynton Beach Florida
St. Jude Donor '07-'12, '20
Originally Posted by charlene
When my dad passed away many years ago GM bought his car back but my dads car was in perfect condition with no problems the dealer knew how his car was taken care of.So i would check into this car first before you do something you will be sorry for later on.
Sometimes cars are just lemons and the mfg. buys them back. They then auction then off, some repaired some not. It's a gamble. 
Safety Car
Joined: Feb 2004
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From: monroeville pa
St. Jude Donor '04-'05-'06-'07-'08-'09-'10-'11-'12-'13
Originally Posted by 16Again
They are talking a different type of buyback. Sometimes cars are just lemons and the mfg. buys them back. They then auction then off, some repaired some not. It's a gamble.
Sometimes cars are just lemons and the mfg. buys them back. They then auction then off, some repaired some not. It's a gamble.
Safety Car
Joined: Jun 2005
Posts: 3,775
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From: St Marys GA
with everybody.My own experiences in owning an unreliable boat in which you are almost afraid to use because you are wary of being incapacitated again, would lead me to take a walk. Much worse in a boat than a car, but you get the idea. I fixed the boat with $10K & a new 350 EFI. Cars are so much more complex.
DBD
Tech Contributor
Joined: Oct 1999
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From: Charlotte, NC (formerly Endicott, NY)
Originally Posted by triple black c4
I currently own a C4 and may be looking to update. I have located a car that is close to what I have been looking for and the car fax show an alert that the vehicle was a GM Buy back. What does everyone think about buying something like this and how much would it discount it down the road? Thanks for your help.
As far as impacting future value I doubt it will mean anything. Current maintenance history is a better judge than something way in the past. If you keep the car in good condition and maintain it you will get market value for it when it comes time to sell. My 86 actually got 2.5K over market value. The buyer liked the car so much he told me to save it for him until he recovered from his open heart surgery which was scheduled for the next day. True to his word he came back a few weeks later and paid what I was asking for it.
Bill
Thread Starter
Racer
Joined: Jan 2006
Posts: 360
Likes: 18
From: Danbury Iowa
Thanks to everyone that responded. In talking to the dealer that has this vehicle he said that most of the complaints were to do with the key fobs not working and a problem with one of the windows. He said he has been driving it for about a year now with no problems but I realize he is the seller. I won't purchase a car without seeing it and don't know if I want to make a five hour drive to look at this one. Thanks again.
Instructor
Joined: Mar 2006
Posts: 119
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From: NOVA VA
My car had a Buy Back done. Looks like there was some big problem with the electronics (entire PCM was replaced, for instance).
The key to look at is how many miles was it driven after the buy back.
If we're talking like 100 miles, I wouldn't risk it.
Mine had over 30k miles driven since the buy back.
The key to look at is how many miles was it driven after the buy back.
If we're talking like 100 miles, I wouldn't risk it.
Mine had over 30k miles driven since the buy back.
Instructor
Joined: Mar 2006
Posts: 119
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From: NOVA VA
Just one more note...
Some states (thinking California here) require the car maker to offer the owner the buy back if they can't fix a problem after X trips to the mechanic.
It could simply be that the previous owner saw the opportunity to get a new C5 and let GM buy the car back. Then maybe on the very next try they fixed it!
Some states (thinking California here) require the car maker to offer the owner the buy back if they can't fix a problem after X trips to the mechanic.
It could simply be that the previous owner saw the opportunity to get a new C5 and let GM buy the car back. Then maybe on the very next try they fixed it!
Racer
Joined: Mar 2006
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St. Jude Donor '08
It takes a heck of a lot for GM to buy a car back. I am dealing with this issue with a few GM products through the company I work for. I wish I could go into more detail, but we are going thru a lot of crap that we shouldnt have as we are a VERY LARGE national company that GM would not be smart to **** off by selling us cars that are basically unsafe for our people to use....
