Would you buy this Z06 lemon?
#1
Racer
Thread Starter
Would you buy this Z06 lemon? [*UPDATE 1/11/19*]
Hello everyone.
I’ve had my eye on this 2016 3lz z07 for quite some time now:
https://tinyurl.com/ycm34jla
Yesterday I decided to pull the carfax on it:
https://www.carfaxweb.com/CFReports-...540518165.html
Much to my disappointment I found out that this car was a manufacture buyback A.K.A lemon.
I called the dealership and the salesperson told me it had a leaky transmission “adapter” and that they replaced the entire transmission system after the buy back and that there is nothing wrong with the car at this point so they claim.
The reason I’m having trouble looking past this car and moving on is due to the fact that this particular example happens to have each and every option I want and nothing I don’t- and due to my constrained budget, it was just affordable enough for me
To my more wisened Corvette enthusiasts: what would you do in this scenario? Am I currently in denial and should stay the heck away? Do I lowball them, and if so how low? Any input or advice would be extremely welcome
I’ve had my eye on this 2016 3lz z07 for quite some time now:
https://tinyurl.com/ycm34jla
Yesterday I decided to pull the carfax on it:
https://www.carfaxweb.com/CFReports-...540518165.html
Much to my disappointment I found out that this car was a manufacture buyback A.K.A lemon.
I called the dealership and the salesperson told me it had a leaky transmission “adapter” and that they replaced the entire transmission system after the buy back and that there is nothing wrong with the car at this point so they claim.
The reason I’m having trouble looking past this car and moving on is due to the fact that this particular example happens to have each and every option I want and nothing I don’t- and due to my constrained budget, it was just affordable enough for me
To my more wisened Corvette enthusiasts: what would you do in this scenario? Am I currently in denial and should stay the heck away? Do I lowball them, and if so how low? Any input or advice would be extremely welcome
Last edited by LiuBearPig; 01-11-2019 at 07:26 PM.
#3
Safety Car
Hello everyone.
I’ve had my eye on this 2016 3lz z07 for quite some time now:
https://tinyurl.com/ycm34jla
Yesterday I decided to pull the carfax on it:
https://www.carfaxweb.com/CFReports-...540518165.html
Much to my disappointment I found out that this car was a manufacture buyback A.K.A lemon.
I called the dealership and the salesperson told me it had a leaky transmission “adapter” and that they replaced the entire transmission system after the buy back and that there is nothing wrong with the car at this point so they claim.
The reason I’m having trouble looking past this car and moving on is due to the fact that this particular example happens to have each and every option I want and nothing I don’t- and due to my constrained budget, it was just affordable enough for me
To my more wisened Corvette enthusiasts: what would you do in this scenario? Am I currently in denial and should stay the heck away? Do I lowball them, and if so how low? Any input or advice would be extremely welcome
I’ve had my eye on this 2016 3lz z07 for quite some time now:
https://tinyurl.com/ycm34jla
Yesterday I decided to pull the carfax on it:
https://www.carfaxweb.com/CFReports-...540518165.html
Much to my disappointment I found out that this car was a manufacture buyback A.K.A lemon.
I called the dealership and the salesperson told me it had a leaky transmission “adapter” and that they replaced the entire transmission system after the buy back and that there is nothing wrong with the car at this point so they claim.
The reason I’m having trouble looking past this car and moving on is due to the fact that this particular example happens to have each and every option I want and nothing I don’t- and due to my constrained budget, it was just affordable enough for me
To my more wisened Corvette enthusiasts: what would you do in this scenario? Am I currently in denial and should stay the heck away? Do I lowball them, and if so how low? Any input or advice would be extremely welcome
#4
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.
#5
Drifting
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.
Last edited by Parcival; 10-26-2018 at 03:23 PM.
#6
Safety Car
Member Since: Jan 2006
Location: Smyrna/Vinings, Georgia
Posts: 3,662
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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.
#7
Racer
Thread Starter
saving a considerable amount of money now means significantly more to me than getting more for it later if/when I decide to sell. I’m 30 years old right now. I’ll never be this young again and it means more to me to have an amazing car like this while I am relatively young- even if it means proverbially screwing myself later down the line because (hopefully) I’ll have more money by then and it won’t matter as much. My biggest concern is the last part you mentioned; I’m scared there’s more issues with the vehicle that the dealership is holding back. When I contacted the original dealership in Santa Rosa to inquire about the service history, they refused to disclose any information to me because I am not the owner
is there some sort of rule for full disclosure? Is there any way I can make them tell me everything that’s wrong with the car or would I have to take their word for it?
Last edited by LiuBearPig; 10-26-2018 at 03:55 PM.
#8
Safety Car
Member Since: Jan 2006
Location: Smyrna/Vinings, Georgia
Posts: 3,662
Received 358 Likes
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241 Posts
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"
At the very least get them to show you the work order for "replaced entire transmission system"
Last edited by hope2; 10-26-2018 at 04:03 PM.
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#9
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.
#10
Pro
Member Since: Aug 2012
Location: Memphis Tennessee
Posts: 637
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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.
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.
Last edited by DomLS3; 10-26-2018 at 04:05 PM.
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SyberSaint (01-15-2019)
#11
Pro
Member Since: Aug 2012
Location: Memphis Tennessee
Posts: 637
Likes: 0
Received 186 Likes
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116 Posts
saving a considerable amount of money now means significantly more to me than getting more for it later if/when I decide to sell. I’m 30 years old right now. I’ll never be this young again and it means more to me to have an amazing car like this while I am relatively young- even if it means proverbially screwing myself later down the line because (hopefully) I’ll have more money by then and it won’t matter as much.
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?
Last edited by DomLS3; 10-26-2018 at 04:11 PM.
#12
Race Director
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.
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.
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billiam01 (01-15-2019)
#13
Team Owner
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.
#14
#15
Race Director
I would pass on that one as well.
#16
Melting Slicks
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.
Life is short, Buy the car and have fun, hope for the best.
Last edited by randy ransome; 10-26-2018 at 07:54 PM.
#18
Safety Car
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! .
#19
History
Hello everyone.
I’ve had my eye on this 2016 3lz z07 for quite some time now:
https://tinyurl.com/ycm34jla
Yesterday I decided to pull the carfax on it:
https://www.carfaxweb.com/CFReports-...540518165.html
Much to my disappointment I found out that this car was a manufacture buyback A.K.A lemon.
I called the dealership and the salesperson told me it had a leaky transmission “adapter” and that they replaced the entire transmission system after the buy back and that there is nothing wrong with the car at this point so they claim.
The reason I’m having trouble looking past this car and moving on is due to the fact that this particular example happens to have each and every option I want and nothing I don’t- and due to my constrained budget, it was just affordable enough for me
To my more wisened Corvette enthusiasts: what would you do in this scenario? Am I currently in denial and should stay the heck away? Do I lowball them, and if so how low? Any input or advice would be extremely welcome
I’ve had my eye on this 2016 3lz z07 for quite some time now:
https://tinyurl.com/ycm34jla
Yesterday I decided to pull the carfax on it:
https://www.carfaxweb.com/CFReports-...540518165.html
Much to my disappointment I found out that this car was a manufacture buyback A.K.A lemon.
I called the dealership and the salesperson told me it had a leaky transmission “adapter” and that they replaced the entire transmission system after the buy back and that there is nothing wrong with the car at this point so they claim.
The reason I’m having trouble looking past this car and moving on is due to the fact that this particular example happens to have each and every option I want and nothing I don’t- and due to my constrained budget, it was just affordable enough for me
To my more wisened Corvette enthusiasts: what would you do in this scenario? Am I currently in denial and should stay the heck away? Do I lowball them, and if so how low? Any input or advice would be extremely welcome
#20
Drifting
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.
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.