Would you buy this Z06 lemon? [*UPDATE 1/11/19*]
 

If you really want it I would make a $50k offer with a 10 year 100k warentee, and then get up and walk if they said no.

The car is already 5 years old . (so to speak)

Anything you save will cost you when you go to trade or sell it, and it may have way more problems than they are disclosing. GM does not buy back vehicles for something as minor as a leaking transmission.

:iagree: This car seems to have spent most of its life being serviced; transmission, differential, brakes, fluid changes, etc. Have to suspect it made have been ridden pretty hard but, either way, there are plenty of other cars like this or close to it without the risk involved Unless you're really limited on funds, find a well-known quality new Vette dealer and see what you can find in their used inventory.

I'm crazy because the age doesn't bother me per se.

If one is in the position of knowing you're going to keep the Z and not trade/sell it (like I was two month ago), then I'd make a bid like it was a salvage refurbish:
Up to 50% of msrp and a new manufacturers warranty (ie, 3Y etc) ... no one is going to give a 100K 10Y on this thing, so basically you'd be saying NFW.

What bothers me is you had to find out it was a lemon law. That said it is worth about ten grand less than a whole one. What is the warranty situation? Some banks won't finance it. The longer you keep it the 10k difference shrinks.

Typically there is a document stating the reason(s) for the buyback. They should share that with you. I was involved with many of these with another manufacturer. They were transparent and extended the warranty 2 years also. If they are hiding facts I would run away.

At the very least get them to show you the work order for "replaced entire transmission system"

Unless you can get it for significantly less than what it is listed for, it's not worth the hassle IMO. For that kind of price range you'll probably find one here in forum, may not have all the options but certainly worth considering.

Let me put this into perspective for you.They have that car listed at 62,000.

I bought my 2015 z06 w/ 3LZ, Z07, PDR and comp seats with 8,900 miles for 65,000. Non lemon car will hold it's value far more than a lemon car. Pretty much guarantee that if you buy that car, you're never going to be able to resell it (if you were able to resell, it would be for a fraction of what you bought it for) and you're almost 100% guaranteed to have ongoing problems. If you're worried about saving money now... instead worry about saving money down the road on a broken lemon car. There are good deals out there for these cars you just have to find them. I get you're 30 and you want to live a little, but don't make dumb decisions.

Let me put this into perspective for you.They have that car listed at 62,000.

I bought my 2015 z06 w/ 3LZ, Z07, PDR and comp seats with 8,900 miles for 65,000. Non lemon car will hold it's value far more than a lemon car. Pretty much guarantee that if you buy that car, you're never going to be able to resell it (if you were able to resell, it would be for a fraction of what you bought it for) and you're almost 100% guaranteed to have ongoing problems. If you're worried about saving money now... instead worry about saving money down the road on a broken lemon car. There are good deals out there for these cars you just have to find them. I get you're 30 and you want to live a little, but don't make dumb decisions. Assuming/hoping you're going to make more money down the road and making an impulse buy is a terrible choice, but to each his own. Remember.. an extra $3000-$5000 can equal less than an additonal $100 a month in the payment depending on interest rate and length of loan.

Do you really want to risk buying a lemon car to save $100 a month?

When the C8 comes out the price difference will not matter as much.

If you can get a super buy and an extended warrantee I would go with it.

My 88 Olds was a " lemon" demo" , got the extended warrantee. Only lasted 18 years until one of the kids wrecked it.

I know todays cars are more complex - but sometimes it's the dealer who is actually the lemon in the repair department.

My 85 Camaro had issues that the Chevy dealer (4 times) could not correct - I took it to a Cady dealer when visiting a friend in the adjacent state, the Cady dealer fixed it correctly.
kept that one 20 years.

I would have to pass, bad history too many unknowns, even if they give you an extended warranty do you want to spend the majority of your time driving it or scheduling service for it.

I would pass on that one as well.

Look it's not a end of life decision. In 2001 I was told by everyone Not to buy a 2001 Flood Corvette. I bought the car, kept it 3 years, with no problems, sold it to a coworker and he's still driving it. If You feel like you're getting a fair deal don't worry what others opinion of the decision is.

Life is short, Buy the car and have fun, hope for the best.




:flag:

Get the vin # and have the dealer put the GM history.... It is called "Workbench - Sevice & Inspection Tool".

Buy a new one and lease it for three years and toss it! Do not worry about stated value just get the cheapest insurance and ride in to the wind Let the dealer worry about all the problems you might have! .

History
 

06/19/2018114966ZREG----Regular Vehicle Transaction8449929 - Manual Transmission - Customer Concern Not Duplicated (CCND)6,756 MI06/19/2018114966ZREG----Regular Vehicle Transaction8039929 - Suspension - Customer Concern Not Duplicated (CCND)6,756 MI03/19/2018111610ZREG----Regular Vehicle Transaction8441960 - Reverse Gear Replacement6,424 MI02/06/2018110086ZREG----Regular Vehicle Transaction8442582 - Extension Overhaul6,182 MI02/14/201796793ZREG----Regular Vehicle TransactionAdd Credit8442220 - Transmission Adapter Replacement3,774 MI02/14/201796793ZREG----Regular Vehicle TransactionFull Debit - Reversal8442220 - Transmission Adapter Replacement3,774 MI02/14/201796793ZREG----Regular Vehicle Transaction8442220 - Transmission Adapter Replacement3,774 MI01/16/201795634ZREG----Regular Vehicle Transaction0600723 - Chevrolet 2 Year Maintenance3,680 MI01/16/201795634ZFAT----Field Action Recall9102276 - 16007 - N16-204817 - Reprogram Inflatable Restraint Sensing and Diagnostic Module Calibrations3,680 MI09/02/201690081ZREG----Regular Vehicle Transaction2024270 - Windshield Frame Weatherstrip Replacement3,160 MI07/18/201688169ZREG----Regular Vehicle Transaction8450010 - Transmission Fluid Auxiliary Cooler Replacement2,281 MI03/30/201683958ZFAT----Field Action Recall9102115 - N150814 - Instrument Cluster Reprogramming with SPS2,130 MI03/01/201682775ZREG----Regular Vehicle Transaction0600723 - Chevrolet 2 Year Maintenance1,684 MI12/30/201580415ZREG----Regular Vehicle Transaction0600723 - Chevrolet 2 Year Maintenance523 MI10/05/201594271ZPDI----Pre-Delivery Inspection0590052 - PDI Related Fluid Adds1 MI09/25/2015A03645ZPDI----Pre-Delivery Inspection0590072 - Pre-Delivery Inspection - Base Time1 MI

I have lost money on every Corvette I own. I bought my cars to have fun and drive. It is an expense and costs money.
You said you want to drive it and enjoy the car.
I advise whatever you do avoid being upside down on the car. If that is unavoidable then set a limit on how much you are willing to lose. Drive that car and have a blast.