What exactly is a truck my dealer has as a "GM Buyback?"

[Boardmember]

GM Resale Disclosure, Notice of Nonconformity.

"Vehicle is not required to have the title branded."

 

After explanation, I'll tell the story....

[O_J_Simpson]

It was a lemon that could not be repaired. Run...

[martha3065]

Something was wrong with it to the point it couldn't be fixed to the previous owner's satisfaction. GM bought it back, then sent it to auction (or may have left it at the dealer where it was turned in). Somewhere along the line it ended up at your dealer.

[Boardmember]

There is a form in the car that states must be fully disclosed and signed by the customer.

 

States problem was transmission whines at 80mph in 6th gear. (It's a 6sp). I've been passenger 2x and driver 2x at 80. No whine st all. None, even with wife listening.

 

Dealership - small town, know em all, etc., says they get lots, mostly trucks with "note knock" and wouldn't let me buy this if it were a problem. They said it adds 12/12 onto the 3/36 warranty, I need to clarify if that's b-2-b or just on the complaint (trans whine).

 

7100 miles. '16 SLT. 6speed.

 

I'm having problem with my '16 SLT 8speed...

 

Dang, I wish life was boring sometimes.

[Heavy 5.7]

http://jalopnik.com/should-i-purchase-a-manufacturer-buyback-vehicle-1682794147 Should I Purchase A Manufacturer Buyback Vehicle?

For those of you who aren't familiar with manufacturer buybacks, allow me to educate you. Manufacturer buybacks occur in one of two ways. Either a) the car has a serious defect, and the automaker buys it back from the customer as a result, or b) the customer gets the car home, realizes he can't afford payments, and decides the only way to get out of this without losing big money is to claim it's a lemon. Then he spends the next four weeks screaming at everyone he meets that his car is defective.

"Don't you hear that noise?" he says to the service manager, in a long moment of pronounced silence as they sit inside the vehicle. "Well I hear it. And I want this car BOUGHT BACK or I'll call the LOCAL NEWS!"

[CadillacLuke24]

"realizes he can't afford payments" I bet that happens a LOT

[Sierra706]

"realizes he can't afford payments" I bet that happens a LOT

That's brought us the joy of Bernice and south beach tow.

 

 

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[Donstar]

There is a form in the car that states must be fully disclosed and signed by the customer.

 

States problem was transmission whines at 80mph in 6th gear. (It's a 6sp). I've been passenger 2x and driver 2x at 80. No whine st all. None, even with wife listening.

 

Dealership - small town, know em all, etc., says they get lots, mostly trucks with "note knock" and wouldn't let me buy this if it were a problem. They said it adds 12/12 onto the 3/36 warranty, I need to clarify if that's b-2-b or just on the complaint (trans whine).

 

7100 miles. '16 SLT. 6speed.

 

I'm having problem with my '16 SLT 8speed...

 

Dang, I wish life was boring sometimes.

I am surprised that a dealer would buy back a truck after 7100 miles with such a specific and identifiable complaint. I suspect that the disclosure may not fully reflect the concerns of the previous owner! I am not familiar with the terms "note knock" or "b-2-b" so perhaps you have covered this point.

[Boardmember]

"Note knock" is the term they use for the combination of 'has this intolerable knock' and 'I can't afford the note'

 

Bumper to bumper

[dasimmon]

I wouldn't buy it

 

 

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[Hiserman79]

Run run run don't look back I bet it's a shaker

 

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[Boardmember]

After a pretty extensive test drive, I told them I'd buy if they would include a letter guaranteeing the title will never be branded and the "buy back" would not show up on carfax or auto check. Initially they agreed. Then the owner said no, he can't guarantee that.

 

Ok. So I buy and 6 months later even if I am happy with the truck, I look and the situation shows up on carfax. I lose, what, 25-30% of its value at that moment?

 

All the risk is on me. Nah.

 

For now, no need to modify my signature line...but I still have a brake problem...

[cbrsilv15]

GM acknowledged that the vehicle had a bad problem, so it was bought back. I'd stay away from any of the headaches involved with that.

[Donstar]

After a pretty extensive test drive, I told them I'd buy if they would include a letter guaranteeing the title will never be branded and the "buy back" would not show up on carfax or auto check. Initially they agreed. Then the owner said no, he can't guarantee that.

 

Ok. So I buy and 6 months later even if I am happy with the truck, I look and the situation shows up on carfax. I lose, what, 25-30% of its value at that moment?

 

All the risk is on me. Nah.

 

For now, no need to modify my signature line...but I still have a brake problem...

If you can buy this truck for a significant price reduction, yet it functions as new, what does resale matter? The resale on a LT is far less than a High Country. It makes sense that the less you pay for a vehicle, the less you can expect at trade-in time. A salesman tried to up-sell me recently using the better trade-in argument. I used his argument in reverse to get a better deal on my purchase. I may not get the highest trade-in amount in a few years but the difference will be less than what I saved initially!

[Silverado Steve]

Buying a "buy back" is probably a couple of steps up from a salvaged title vehicle. Sure Boardmember can possibly get a smoking deal on this truck, or not. The issue is, lets say in a couple of years the itch to buy the new model 2019 comes into play, a title that has a red flag such as "buy back" will limit his potential to trade in, or outright private sell. The only way he comes out a head is if he keeps the truck 15+ years and regardless, the truck isnt worth much, but that's a deep look into a crystal ball for a lot of people seeing as most car owners on average only keep a car 4-6 years.

 

 

If you can buy this truck for a significant price reduction, yet it functions as new, what does resale matter? The resale on a LT is far less than a High Country. It makes sense that the less you pay for a vehicle, the less you can expect at trade-in time. A salesman tried to up-sell me recently using the better trade-in argument. I used his argument in reverse to get a better deal on my purchase. I may not get the highest trade-in amount in a few years but the difference will be less than what I saved initially!