Boscosz28

Ok, so fairly general question.

I have an opportunity to purchase a newer modle z06, that was a GM buy back. I've looked over the forms and looks like it was a voulantary buy back to keep the customer happy. Was provided with service records as to why, and this is what happened.

~17k miles, the car dropped a valve, destroying the motor. Oil cooler was replaced, new lines, and oil tank cleaned. New LS7 dealer installed, new fluids, etc. All was checked and car was driven, no issues reported.

~20k miles customer complained about ticking Noise. Car was compared to other ls7 cars on the lot in front of the customer and was noted that they sounded no different. Customer also complained about hesitation upon acceleration. Car was driven 50 miles by the dealership and could not recreate the problem. No hesitation. Customer was not satisfied, so GM bought it back.

There are a few other service records but nothing out of the ordinary. Because of the buy-back, Carfax labels it as a branded title. Not to be confused with salvage/rebuilt/etc.

This particular car went into service very late for its year modle and has a long time left on both bumper to bumper and power train. Will also come with an extra 12 month additional bumper to bumper from GM Free of charge.

What are your thoughts on this? Would like to hear from those who either have purchased buy back cars, or wouldn't care if they bought one. Also, why you wouldn't buy one. Please keep in mind the above mentioned info.

Currently, it has 3k on the new motor!

383vett

I'd buy pretty much anything for the right price. How much is this car discounted over a similar, non buyback car? That is the important question.

Boscosz28

Cheapest of its year I've seen.. It is a 1LZ, but that doesn't bother me, as heated seats and factory nav are things I usually don't use...

Biggest things it has going for it are the new motor, and lots of
Warranty...

spicytuna

How much would you save by going this route?

Winter is around the corner and with the C7 being announced next month, you'll probably be seeing some good deals on the used market.

Either way, I'd still have the heads inspected on the new car for guide wear, geometry, etc. so be sure to factor that in as well.

Boscosz28

Similar cars are selling for 4-6k more.

Entire long block was replaced. I should have the heads inspected at 3k miles?

FRChilln

It would have to be in the 33k range for me to consider it.

titletaker

Would have to be 25-30% less than the comparable make model. Going to be more difficult to sell down the road. I always consider resale when buying a car and I personally would spend the 4-5k more for a clean title, lower mileage Z. That's quite a bit of milage: too many for sale with a third of that mileage.

Mark2009

1. Depending on the state, may have a branded title (Lemon).

2. Regardless of the state, may have a negative entry on CarFax (edit: ah, I see you noted that this is indeed the case). Either of these items would make it hard to sell in the future, except perhaps at a fire sale price.

3. I'd want a printout from a GM dealer verifying the original warranties are not blocked (they can do this on certain branded titles, and I thought they did this on buy-backs). This same printout will also note if GM considers the title branded.

I looked at one several months ago (online) that had a Lemon title; it did not have an option that I considered a must have, so I passed. It also was not at a fire sale price (altho since it didn't have the option I was looking for, I did not negotiate, but it was at a dealer and it's been my experience they usually won't stray too far from price). Bottom line I could get the same thing with a clean title for a few thousand more.

Boscosz28

Your point number 3 is interesting. According to
The dealer, this was not the case.
Direct info is a 2009 1lz. 20,3xx miles. In service date was 4/2010 so quite a lot remaining on the warranty. Price is 44,000.
Was hesitant to post the info in case I desided to buy, and someone sniped it..

Any input reguarding the price for the year/miles/warranty?

Lethal427

My brother bought a GTO with the same kind of title, it's killing him now, one reason, he loved the GTO so much, he really believed he would never re sell, well, he has been to every dealer in our state, dealers offer him a fraction of the usual KBB value!! to trade it in, would be a total loss at this point!! just be sure you'll be keeping the car, or, you'll regret it.

MTPZ06

As a track car only...I would. For dependable transportation...nope.

Boscosz28

You guys are awesome!!

Mark2009

Price is at least 10% too high for a branded title of that type. IMHO. NADA Average Trade in (clean title) for that year/mileage is $44K. If you shop around a for a few months, within say 600 miles of your residence, I'd imagine you can find the same thing with a clear title for about the same figure.

I'd want to see the actual computer printout on that one (on any, really). It will look like this:




Further along the printout it will have the actual warranty expiration dates, to the day.

Edited to add: There's a red '09 2LZ w/NAV, 25K mi, at a DFW dealer for $48K, looks stock and clean in the pics -- I'd imagine they'd take $45K. Just a for instance....

Boscosz28

thanks for the info! I have the scans in PDF form, but can't attach them here from my phone. From everything you guys have said, I'm out. From all the cars I've looked at, it was the cheapest 09 I could find on the net. Thanks for your input!!

capevettes

GM bought back the early 2005 Corvette I bought new in 2004. It isn't easy to get GM to agree a car is a complete POS. It took me months to get them to buy this headache back. My car was an electrical nightmare among other issues. Diminished value and difficulty selling down the road are also factors.

Don't buy someone else's headache to save a few grand. It's not worth it.

AzDave47

I guess the question for this and other "in warranty" cars, is if the results come back bad, what do you do? The mods that are recommended on this forum to fix the problem would void the warranty. Trying to get GM to actually do anything about it unless it is making the "loud, unusual" noise is nil.

I have almost two years to go on my 5/100 and also have nearly 4 years to go on my GMPP. I have done the tests, my geometry and spark plugs look OK, I just have some smoke on start-up.

I would be much happier to have the heads replaced under warranty than to have the engine replaced under warranty, but that doesn't end up being my choice, but how GM handles or ignores the "evidence".

Painrace

Run, Forest, RUN! Don't do it. Let some other person have it.

Jim

90sundevil

You are a sucker if you buy a buyback car. I pity the guy who bought my lemon 05 C6 even with the warranty, my car was in the shop more than my garage in the first 3 months I owned it and it was multiple problems.

The car might be a Forum member ex-car. The story about the original owner's car seems very familiar.

Boscosz28

Thanks fellas. Was hoping to negotiate them down to 42ish, but I'm going to pass all together.

90sundevil

It is winter and the prices should be down on a Z06, you can find one with a warranty, original engine and no questions if you look smart.