hayabusa4448

Hello everyone, I have a question. Been looking at a very low mileage Z06/Z07. It was repoed from the first owner at only 1500 miles when it was 3 months old, and then certified after that by the dealer and sold to the 2nd owner as a CPO car. Car currently has tad over 3000 miles. 2nd owner is an enthusiast and seems very nice and knowledgeable. Should I be careful about it having diminished value now due to the fact it was repossessed? Carfax does not show if it was voluntary repo or if they towed the car it just says repo. Normally I'd be concerned about poor maintenance or abuse by someone who doesn't even make payments on his car but repoed at 1500 miles and then certified right after I figured its a nice ride. Car is local to me and I went to see it earlier today. Paint is flawless, no traces of any kind of body work, undercarriage is flawless, only flaws i could find were the few chips and one small crack on the bottom of the front carbon lip. Car drives perfect, wheels are flawless with no chips, all original windows and windshield, cc brake rotors look new, interior is mint.....again it shows and smells as a new car. My only concern is diminished value due to this repo being on CarFax and if it was involuntary and they dragged the car in gear onto the tow truck. Do they repo cars with a dealer cut key nowadays or do they just ****** them where they sit? Would Chevy certify a car that was showing any abuse or damage from repossession? Any input is greatly appreciated and thanks to everyone in advance.

selo

Chevy would certify a '76 Vega if they thought they could get away with it. But a good shop can do a PPI and tell you if there's been any significant damage or work. It's worth the couple hundred bucks.

macdizzle

If you plan on reselling it, don't buy it.

If you are going to keep it forever, maybe.

vbdenny

I would suspect somebody has an additional key fob for the car and probably some kind of onstar link as well. They use the remote start option to repo them these days. To me it would all depend on the $$$.

JALLEN4

With all the information now available and discussions taking place on-line, people get carried away with reasons not to buy a car. If the car only has 3,000 miles on it, the warranty is still good, price is right, and no previous damage can be found...buy it! If the car was abused during the first 1500 miles, it will certainly show up during the warranty period and be repaired.

Phanni

If it has only 3000 miles on it, there should be no maintenance problems unless it was abandoned on the street. Check to make sure the 500 mile oil change was done, that's about it.

hayabusa4448

Thanks to everyone that replied. Yes I do plan to keep the car for a season or two and then move on to something else, that's why resale value is what concerns me. This forum would be the first place where I'd advertise it and I wanted everyone's input. When I inspected the car yesterday it looked great, just how 3000 mile car should look. This morning I called the service department of the dealership that certified it and the advisor did not see any notes besides the oil change and CPO pre delivery inspection at 1500 miles. New owner bough the car CPO and warranty is now good until 2020 or powertrain until 2022 or 100k miles. If I'm not mistaken CPO stays with the car right?

boxster99t

Factory or extended warranties (if the first purchaser of the extended warranty doesn't cancel it for a refund) transfers, but I am not sure on CPO warranties--read the fine print I guess.

Honestly, if you're buying a used car, as far as resale value the first purchaser took the big hit--that said, these things aren't Ferraris that hold their value remarkably well provided you never drive them. The thing's going to depreciate. That's the nature of the majority of cars that are built in high numbers, Z06/Z07's included. A Porsche master tech I know always said--buy cars, drive cars and enjoy them. If you want an investment, buy art.

cv67

That repo isnt going to mean a thing. Guy could have lost his job who knows, no big deal not like it was wrecked.

With 3k its practically new go have fun

23/C8Z

i agree. have it up in air checkout the underside. if and bottom are good could have been a voluntary surrender as in car's there, i'm here to take it, hands over keys.

dvilin

If the price is right and it has all the options you want buy it. The repo is no big deal and certainly does not warrant any diminished value.

roadbike56

The repo thing will mean almost nothing. I'd be more concerned that when you go to sell, it will have had three owners in a short period of time. Most buyers won't even notice that, much less the repo thing. You already did the smart thing, checked the service record with the dealer. I would have asked to see the service record myself, not just have the service manager go over it, but that's me. As has been said, you will take a financial hit on any C7 you buy. That's just the nature of a high performance sports car.

yeller z06

I disagree. I think the repo thing will affect resale value, and it should be priced accordingly.

TXshaggy

Concur, with so many used vettes I'd personally pass on any with blemishes. What was original MSRP and what is the asking price?

DAFFYDRUNK

This, although I personally wouldn't worry about it beyond the fact that it could be considered and negative in the car fax the next potential buyer will look at when it's time for you to sell.

Jackie Chan

the repo won't matter to a majority of people but 3 owners will. other than that if the price is right thats ALL that matters if the car is clean

hayabusa4448

Again thanks to everyone who shared their thoughts on this subject. Seems that opinions are divided but that majority of members here wouldn’t buy a car with repo on the history report. Since I don’t keep cars very long and like quick, smooth resale process, I decided not to buy the 2016 mentioned in the first post.

appreciate everyone’s opinion

C7Joy

IMO, if you are interested in buying for YOUR long term enjoyment and the car checks out okay, go for it.

boraxman

I wouldn't...too many out there without a history.

kenownr

Good plan to pass on that one -- I agree as said above. Many, many garage queen Z's out there with spotless title, AND car.