Lemon Title???
Thread Starter
Navigator
Joined: Nov 2018
Posts: 9
Likes: 0
Lemon Title???
Thoughts on a C8 with a lemon title? The reason stated is transmission issues. I am told the transmission has been replaced. The cars in service date was early 2023 and it has less than 10k. It is a 2023 model. Everything else about the car is what I am looking for.
I know the resell will always be less than a non lemon title. Anything I should be aware of? What kinda "discount" is reasonable?
Should I expect any financing issues? And insurance issues?
I know the resell will always be less than a non lemon title. Anything I should be aware of? What kinda "discount" is reasonable?
Should I expect any financing issues? And insurance issues?
Popular Reply
Oct 14, 2024, 01:05 PM
Racer
Joined: Aug 2024
Posts: 398
Likes: 320
From: Naples FL
Just go buy yourself a new Corvette. The discounts are serious now and no good reason to play around with stuff that has a compromised history as any lemon returned vehicle does. There are no free lunches in the car business, you will get what you pay for. Forget about used in this environment and certainly not a lemon buyback that will have two black eyes as long as it exists.
Racer
Joined: Aug 2024
Posts: 398
Likes: 320
From: Naples FL
Just go buy yourself a new Corvette. The discounts are serious now and no good reason to play around with stuff that has a compromised history as any lemon returned vehicle does. There are no free lunches in the car business, you will get what you pay for. Forget about used in this environment and certainly not a lemon buyback that will have two black eyes as long as it exists.
Race Director
Joined: Mar 2001
Posts: 19,948
Likes: 6,750
From: Bonneville Salt Flats
What is the warranty (in writing) on the replacement transmission, and for how long? Since people have gotten bad replacements on occasion, this might well be a minimal aspect of any decision. All the best, in any event. 
Instructor
Joined: Apr 2015
Posts: 238
Likes: 96
From: South Carolina
If it's the white one on autotrader, at $62k they are still way too high. That car should be $50k tops.
I've owned a "lemon" "chevy buy back" camaro before and it was a GREAT car and I had absolutely no issues with it. But when it came time to sell or trade it, carvana offered me $4000.. yes $4000 for a 2016 2SS with sub 75k miles on it. Most dealers didn't want to even touch it. I finally found a chevy that offered me I think $30k for it, the guy came out with a "don't hit me, I'm just the messenger" look and said "please don't be offended by this offer" after talking with his manager. I thought "here we go.. get ready for no offer". When he said 30k I tried my best to look slightly upset and acted like I was thinking it over, on the inside I was screaming "THANK GOD". Traded it for a newer truck and of course cash their way.
TLDR: A lemon title will follow a car, even if it's perfect, when it comes time to sell, expect to work twice as hard to get it sold and likely at 30%+ less than KBB value.
I've owned a "lemon" "chevy buy back" camaro before and it was a GREAT car and I had absolutely no issues with it. But when it came time to sell or trade it, carvana offered me $4000.. yes $4000 for a 2016 2SS with sub 75k miles on it. Most dealers didn't want to even touch it. I finally found a chevy that offered me I think $30k for it, the guy came out with a "don't hit me, I'm just the messenger" look and said "please don't be offended by this offer" after talking with his manager. I thought "here we go.. get ready for no offer". When he said 30k I tried my best to look slightly upset and acted like I was thinking it over, on the inside I was screaming "THANK GOD". Traded it for a newer truck and of course cash their way.
TLDR: A lemon title will follow a car, even if it's perfect, when it comes time to sell, expect to work twice as hard to get it sold and likely at 30%+ less than KBB value.
Safety Car
Joined: Jun 2006
Posts: 4,008
Likes: 1,487
From: Ashland, OH
Thoughts on a C8 with a lemon title? The reason stated is transmission issues. I am told the transmission has been replaced. The cars in service date was early 2023 and it has less than 10k. It is a 2023 model. Everything else about the car is what I am looking for.
I know the resell will always be less than a non lemon title. Anything I should be aware of? What kinda "discount" is reasonable?
Should I expect any financing issues? And insurance issues?
I know the resell will always be less than a non lemon title. Anything I should be aware of? What kinda "discount" is reasonable?
Should I expect any financing issues? And insurance issues?
Some banks do not finance “lemon” titles
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Safety Car
Joined: Jun 2006
Posts: 4,008
Likes: 1,487
From: Ashland, OH
Thread Starter
Navigator
Joined: Nov 2018
Posts: 9
Likes: 0
Warranty
They offer a 12m 12k warranty on the transmission. But it also says that the regular drivetrain warranty is good, so that's longer and further. I've asked if they will do CPO. waiting to hear back. It's a 70th anniversary package which I want.
CF Community Team
Joined: Nov 2005
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From: Charlotte N.C.
Le Mans Master
Joined: Sep 2012
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From: Hagerstown MD
St. Jude Donor '15-'16,'18
Buy it if you really want it but unless you can remove the branded title it will be worth very little as a trade or used car unless there is another buyer like yourself. YMMV
Thread Starter
Navigator
Joined: Nov 2018
Posts: 9
Likes: 0
It's not...
If it's the white one on autotrader, at $62k they are still way too high. That car should be $50k tops.
I've owned a "lemon" "chevy buy back" camaro before and it was a GREAT car and I had absolutely no issues with it. But when it came time to sell or trade it, carvana offered me $4000.. yes $4000 for a 2016 2SS with sub 75k miles on it. Most dealers didn't want to even touch it. I finally found a chevy that offered me I think $30k for it, the guy came out with a "don't hit me, I'm just the messenger" look and said "please don't be offended by this offer" after talking with his manager. I thought "here we go.. get ready for no offer". When he said 30k I tried my best to look slightly upset and acted like I was thinking it over, on the inside I was screaming "THANK GOD". Traded it for a newer truck and of course cash their way.
TLDR: A lemon title will follow a car, even if it's perfect, when it comes time to sell, expect to work twice as hard to get it sold and likely at 30%+ less than KBB value.
I've owned a "lemon" "chevy buy back" camaro before and it was a GREAT car and I had absolutely no issues with it. But when it came time to sell or trade it, carvana offered me $4000.. yes $4000 for a 2016 2SS with sub 75k miles on it. Most dealers didn't want to even touch it. I finally found a chevy that offered me I think $30k for it, the guy came out with a "don't hit me, I'm just the messenger" look and said "please don't be offended by this offer" after talking with his manager. I thought "here we go.. get ready for no offer". When he said 30k I tried my best to look slightly upset and acted like I was thinking it over, on the inside I was screaming "THANK GOD". Traded it for a newer truck and of course cash their way.
TLDR: A lemon title will follow a car, even if it's perfect, when it comes time to sell, expect to work twice as hard to get it sold and likely at 30%+ less than KBB value.
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From: In a parallel universe. Currently own 2014 Stingray Coupe.
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I think you are making a good decision to walk away. The car is priced way too high for a lemon status and resale will be horrible should you decide to eventually part ways with the car.
