Anyone get a buyback?

[EXSlider400]

I don't know yet. Like i said, love the truck and have owned several with same great experience (miss my Sierra GT stepside the most). But I have always been a GMC guy and believe GM will do what is right. If it turns out I am wrong.... well...

[JOSHUA__MARSH]

I purchased a 2014 Silverado 2wd double cab this past winter. Since I drove it off the lot it had issues. 2 main issues was the power steering not working until truck was warmed up and transmission shifted very hard coming off of a stop sign or stop light. Went to dealership 4 different times to get fixed. Still had same issues and issues were never repaired. I told dealer I want into a different truck before this thing leaves me stranded on side of road. Nothing was getting done and I started to get mad. You pay 40 grand for a new truck and it shouldn't have issues. Finally spoke to another dealership closer to my house about it and also contacted GM directly about it. The manager from the other dealership by my house said its better to do buy back through the original dealer you got truck from and that she would contact original dealer and tell them I called. Not even 2 days later I got a call from manager at original dealer asking me for my info and asking me what I would like to be put back into. Long story short they put me in a new truck, basically same truck but I requested 4wd. I also had about 2000 bucks worth of accesories on first truck that I told them I wanted swapped over obviously, including a leveling kit and black bumpers. They got it all done for me in about 2 weeks. BUY BACK APPROVED. Apparently the manager has a very good relationship with GM and he made it happen quick, just took me contacting GM and another dealership. Been a log time Chevy owner and this is first issue I have had with a new truck. All in all very pleased they got it done and did everything I asked. Even putting me in a 4wd I was super pumped on that I obviously am paying a bit more now but very happy. Just gotta figure out how to put power/heated mirrors on it and install keyless entry. Has everything else don't ask why it doesn't have those 2 things. I think buy backs all depend on the situation, who you know, and how well the dealerships relationship is with GM and how they go about it.

[ChevyBrad1500]

Did they make you refinance the new truck? Did you have to pay anything?

[2014LTZ-Z71]

They just bought our truck back without us having to get an attorney involved but it was a long process over about 3 to 4 months.

1st GM offered to do a trade for another vehicle; we refused stating we did not want to end up with the same problems all over again and we insisted on a full buyback.

 

Be prepared to be handed off from person to person at GM as you make your way up the food chain to a repurchase coordinator.

 

1st month of contact with GM was agreeing to let another dealer take a crack at our problems to see if they can fix it in one last try.

 

2nd month: If the repair attempt fails again they will request all your paperwork and we do mean ALL your paperwork; repair orders, sales invoices, purchase contract, registration, insurance and your current loan information with payoff balance if you financed. Now you will have to wait for GM to contact all the dealers you took your vehicle into for warranty repair so they can request copies of all your work orders.

 

3^rd month they will go over all your paperwork and put together an offer for you. They will charge you for the mileage that you put on the vehicle and deduct it from your refund. Here’s the important part they may not tell you: the mileage calculation for usage they charge should be based off the 1^st time you took the vehicle in for the warranty repair they are buying it back for, NOT the current mileage.

Here’s an example: Your warranty problem “X” for the buyback started happening at 3,500 miles when you took it to the dealer for the first repair attempt. After that, you took it back in several times over the course of months and you now have 23,500 miles on your vehicle when GM decides to buy it back. DO NOT let them charge you mileage usage on the 23,500 it should be based off the mileage at the 1^st repair attempt for the buyback problem which was at 3,500 miles.

We are unsure if this is correct everywhere but here in CA the offset is calculated by taking the mileage at the first repair for the buyback and dividing it by 120,000 and multiplying that number by 57,102.48.

So at 3,500 usage miles as stated in the above example it would be: 3,500/120,000 x 57,102.48 = $1,665.49 in vehicle usage charges. It should look something like this:

Trade in: $xxxx

Monthly loan payments made: $xxxx

Down Payment: $xxxx

Less($xxxx) Incentives

Less($xxxx) usage charges

Total Refund $xxxx

Plus loan payoff $xxxx

 

All factory incentives you received at the time of purchase will go away and are NOT included with the buyback.

Any optional equipment installed on the vehicle after purchase will have to be removed and will NOT be included in the buyback amount.

The vehicle will need to be put back into its original purchase condition. No dents, dings or scratches in the body and no rips, stains, tears or damage to the interior. It will be inspected by the dealer doing the buyback for GM.

 

Hope that helped

 

[gbo62280]

 

They just bought our truck back without us having to get an attorney involved but it was a long process over about 3 to 4 months.

1st GM offered to do a trade for another vehicle; we refused stating we did not want to end up with the same problems all over again and we insisted on a full buyback.

 

Be prepared to be handed off from person to person at GM as you make your way up the food chain to a repurchase coordinator.

 

1st month of contact with GM was agreeing to let another dealer take a crack at our problems to see if they can fix it in one last try.

 

2nd month: If the repair attempt fails again they will request all your paperwork and we do mean ALL your paperwork; repair orders, sales invoices, purchase contract, registration, insurance and your current loan information with payoff balance if you financed. Now you will have to wait for GM to contact all the dealers you took your vehicle into for warranty repair so they can request copies of all your work orders.

 

3^rd month they will go over all your paperwork and put together an offer for you. They will charge you for the mileage that you put on the vehicle and deduct it from your refund. Here’s the important part they may not tell you: the mileage calculation for usage they charge should be based off the 1^st time you took the vehicle in for the warranty repair they are buying it back for, NOT the current mileage.

Here’s an example: Your warranty problem “X” for the buyback started happening at 3,500 miles when you took it to the dealer for the first repair attempt. After that, you took it back in several times over the course of months and you now have 23,500 miles on your vehicle when GM decides to buy it back. DO NOT let them charge you mileage usage on the 23,500 it should be based off the mileage at the 1^st repair attempt for the buyback problem which was at 3,500 miles.

We are unsure if this is correct everywhere but here in CA the offset is calculated by taking the mileage at the first repair for the buyback and dividing it by 120,000 and multiplying that number by 57,102.48.

So at 3,500 usage miles as stated in the above example it would be: 3,500/120,000 x 57,102.48 = $1,665.49 in vehicle usage charges. It should look something like this:

Trade in: $xxxx

Monthly loan payments made: $xxxx

Down Payment: $xxxx

Less($xxxx) Incentives

Less($xxxx) usage charges

Total Refund $xxxx

Plus loan payoff $xxxx

 

All factory incentives you received at the time of purchase will go away and are NOT included with the buyback.

Any optional equipment installed on the vehicle after purchase will have to be removed and will NOT be included in the buyback amount.

The vehicle will need to be put back into its original purchase condition. No dents, dings or scratches in the body and no rips, stains, tears or damage to the interior. It will be inspected by the dealer doing the buyback for GM.

 

Hope that helped

 

 

So when all was said and done what was the difference from what you paid all together to what you got reimbursed? If you don't want to give an exact number that's understandable, but did you get screwed out of some money or did it work out pretty fairly?

[2014LTZ-Z71]

Yes we took a loss, but it was from the total mileage used. We were screwed out of some of the refund because they were unwilling to agree on the 1^st repair attempt date which put us at a loss of around 7thousand miles of use. We had ECM/TCM computer issues along with a very long list of other things. We didn’t have a single problem with our truck until we took it in around 4k miles for the remote start fire recall issue and they would not agree that was the first ECM repair attempt even though it stated on the repair order they reprogrammed the ECM. We would need the assistance of an attorney to get GM to agree to the lower mileage for the buyback but then again the fees the attorney would have just put us back to where we started. We wouldn't have gained anything and would have lost more time and had more headaches, we believe GM knew that.

[PMattras]

The last thing I would want is a buy out because I got so much time and money (accessories etc.) getting the truck suitable to the way I want it. Maybe some of the items could be taken off and put on a new truck but that would take additional time. All I know is that I don't want to go there if it is possible. I hope I don't have any problems as noted on the website. That would be a major set back for me.

[SilverRado]

I just finished the process of having my Hummer H3 lemonned, which was done through GM, and it took over six months. The H3 is just under for years old and 40,000 miles and i received more money back than I payed for the car nearly 4 years ago. Lemonning your car can be done anytime under factory bumper to bumper warranty.

[high country]

Thanks. An issue is that even though we were 6k in the hole with trade in, we have paid more than that in interest on the monthly payments. Also I will not find a truck like mine "new" because mine was a Demo with 10k miles so got really good deal 51k including trade in. If the buy back covers the trade in by way of the interest paid, it will be near even payoff. Truck that matches mine is 51 so note should be the same at 900....but for 6 years where as currently I have been paying for about a year so only 5 years to go at $900. So I will be paying 1 additional year on new truck that would be around 10k more at the end of the day for same truck....

You think that was a good deal? 900 a month for 6 years is almost 65K.

[EXSlider400]

I was around 6k upside down when traded in new mustang (as already stated)...and that is what happens when you finance you pay more due to interest unless 0% APR (look at your house note)..so for a 100% FULLY loaded Denali (sun roof, sliding window, quad fold cover, line x, safety package, z71, heat/cooled seats, driver assist handle, park assist) financed for 6 years and upside down on trade in.... yea

 

and the 3.42 really does make a difference In pulling and only a bit over 1mpg loss.

[Ernie J Reyes]

I was offer a buyback from Chevy today on my 14 Silverado with 18,600miles for a vibration. The usage fee is steep. Has anyone negotiated the fee down? I'm willing to pay for a usage fee up to the first visit. Since the first visit they acknowleged the vibration, but didn't have a fix for me at that time I shouldn't be charged usage from the point going forward. I'm in florida btw
Thanks in advance

[51 ashton]

I was entertaining it after the regional after sales manager stated to me "if the dealer wants to handle it fine. If I end up with it im going to charge you mileage". His demeanor was such as to discourage me from having the truck bought back and my penalty for wanting to dump the truck. To simlplify things for myself I just decided to take it on the chin and trade it in for another brand which im in the final phase of purchasing from another manufacture.