C7 Z06 buyback
01-02-2018, 10:30 PM
#1
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Thread Starter
C7 Z06 buyback
had posted some time ago that I was having issues with my Vette. And today I was contacted by GM and told that my buy back was approved . I can either trade up towards a newer year . Mine was a 2016 or be reimbursed my down payment and the payments I’ve made so far . At first I thought I would be happy but this kind of sucks because I have a 3LZ with the Z07 package , competition seats and PDF etc . White with red interior ! And I can’t find another one with these same exact options for sale !
01-02-2018, 11:46 PM
#2
Le Mans Master
That’s an incredible deal that they aren’t docking you some depreciation. I’d be inclined to take the money and just order a 2019. What kind of issues did you have to get gm to bend over for a full refund?
Last edited by Steve Garrett; 01-03-2018 at 08:41 PM.
01-03-2018, 09:40 AM
#4
Melting Slicks
Member Since: Aug 2016
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You'll have to do the math, not knowing how long you've been paying & size of down payment I tend to agree if you'll come close to breaking even upgrading to '18/'19 MY, I'd go that way. Good luck either way locating exactly what you want. Great this (whatever experience) hasn't soured you on a truly awesome car. Me, '16 Z M7.
01-03-2018, 10:37 AM
#6
Race Director
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SyberSaint (01-03-2018)
01-03-2018, 01:39 PM
#8
Race Director
Take the money and order a new one at a discount. You'll come out ahead.
01-03-2018, 02:22 PM
#9
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The car was having a misfiring issue , they had it in service for 28 days all they could come up with was the pulleys were causing it , that’s after compression check , swapping out my computer , injectors , coils and having 3 different GM field engineers come look it over .
Also I’ve been told I can buy a new one at no markup essentially paying MSRP. I found a 2017 Z07 3lz M7 for 90k brand new , but if I was to trade for that one I can’t get the sale price it’s based off the msrp of 105k. But if I found say a C7R for example that was 20k over msrp then I would be able to get it for msrp no markup . I’m confused as hell wondering if I should get a lawyer.
Last edited by Steve Garrett; 01-03-2018 at 08:42 PM. Reason: Merged Posts
01-03-2018, 05:31 PM
#10
Also I’ve been told I can buy a new one at no markup essentially paying MSRP. I found a 2017 Z07 3lz M7 for 90k brand new , but if I was to trade for that one I can’t get the sale price it’s based off the msrp of 105k. But if I found say a C7R for example that was 20k over msrp then I would be able to get it for msrp no markup . I’m confused as hell wondering if I should get a lawyer.
Sorry about your situation. You should be getting 12-20% off of MSRP. The only thing you should be paying MSRP for is the new ZR1 or 19Z.
Last edited by Cercone; 01-03-2018 at 05:41 PM.
01-03-2018, 05:39 PM
#11
Melting Slicks
Member Since: Oct 2010
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2017 C7 of the Year Finalist
Get your money back, close the deal. Start over as a new purchase. Quite simple, no lawyer needed. If you hire a lawyer it would equal to MSRP X2. Lawyer gets a free Vette.
01-03-2018, 05:46 PM
#12
Race Director
lawyer=HELL NO
Also I’ve been told I can buy a new one at no markup essentially paying MSRP. I found a 2017 Z07 3lz M7 for 90k brand new , but if I was to trade for that one I can’t get the sale price it’s based off the msrp of 105k. But if I found say a C7R for example that was 20k over msrp then I would be able to get it for msrp no markup . I’m confused as hell wondering if I should get a lawyer.
Take your MSRP approved deal and order a new ZR1. It will be some time before any discounts will be allowed for one of those.
Short of winning the lottery this might be the best reason and set of circumstances yet to get a new ZR1.
Last edited by Thomasmoto; 01-03-2018 at 05:49 PM.
01-03-2018, 06:28 PM
#13
Tech Contributor
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The settlement offered sounds great. It doesn't matter whether you are paying MSRP or less for the car the only thing that matters is the difference you are paying.
I agree with the others a lawyer just costs you money with no value add. However, talking to an account might be a good idea. There could be taxation issues you need to consider. GM may give you a deal but no way is any government going to give you a deal.
Bill
I agree with the others a lawyer just costs you money with no value add. However, talking to an account might be a good idea. There could be taxation issues you need to consider. GM may give you a deal but no way is any government going to give you a deal.
Bill
01-03-2018, 06:46 PM
#14
Melting Slicks
The settlement offered sounds great. It doesn't matter whether you are paying MSRP or less for the car the only thing that matters is the difference you are paying.
I agree with the others a lawyer just costs you money with no value add. However, talking to an account might be a good idea. There could be taxation issues you need to consider. GM may give you a deal but no way is any government going to give you a deal.
Bill
I agree with the others a lawyer just costs you money with no value add. However, talking to an account might be a good idea. There could be taxation issues you need to consider. GM may give you a deal but no way is any government going to give you a deal.
Bill
01-03-2018, 07:12 PM
#15
Le Mans Master
Member Since: Oct 2005
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Finalist 2020 C7 of the Year -- Unmodified
Take the money and run away and hide and then come out and play with the dealers.
01-03-2018, 07:23 PM
#16
Drifting
You are going to be reimbursed for your down payment, and monthly payments to date? However, if you chose to purchase another vette you will be reimbursed the purchase price of your vette, which would automatically be applied to your new purchase? - probably the only way to go.
Last edited by bcmarly; 01-03-2018 at 07:28 PM.
01-03-2018, 07:24 PM
#17
Melting Slicks
I agree with everyone else saying to take the money. I would take the money and workout a deal with one of the top 3 dealers on the forum for a 2019 or a 2018/17 on the lot (if you find something that interests you).
01-03-2018, 08:27 PM
#18
Safety Car
Gm has offered to pay you back every penny you have paid on the car or credit the amount you originally paid towards any new Corvette you buy and you want to get a lawyer????
There must be something here I am missing. That sounds like the deal of a lifetime. You give up a 16 and get a 19 at essentially no cost?? And you don't like the deal?
There must be something here I am missing. That sounds like the deal of a lifetime. You give up a 16 and get a 19 at essentially no cost?? And you don't like the deal?
01-03-2018, 08:42 PM
#19
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Thread Starter
Gm has offered to pay you back every penny you have paid on the car or credit the amount you originally paid towards any new Corvette you buy and you want to get a lawyer????
There must be something here I am missing. That sounds like the deal of a lifetime. You give up a 16 and get a 19 at essentially no cost?? And you don't like the deal?
There must be something here I am missing. That sounds like the deal of a lifetime. You give up a 16 and get a 19 at essentially no cost?? And you don't like the deal?
No not saying I don’t like the deal , I just feel in the end I will be losing. I paid 75k + tax license for a 2016 Z07 , with everything I wanted car had under 5k miles at time of purchase . If I buy the same car with the options and package I have it will be 105k per msrp at the local dealership here. I appreciate all of the input & will just take the payout and shop around .
01-04-2018, 10:55 AM
#20
No not saying I don’t like the deal , I just feel in the end I will be losing. I paid 75k + tax license for a 2016 Z07 , with everything I wanted car had under 5k miles at time of purchase . If I buy the same car with the options and package I have it will be 105k per msrp at the local dealership here. I appreciate all of the input & will just take the payout and shop around .