Urgent help needed buyback

jamin87ss · July 12, 2016

Hey guys quick question, I'm in a buy back, in fact I was sposed to pickup my new ride today, all along ive been told i get rebates/incentives on new truck, so I had 7639 in money off between supplier and rebates (june) everything was backdated for June, this has been along process, the dealer does not know where the numbers came from that GM sent,

But there using my payoff as a purchase price, adding 3200 for mileage over 12000k I guess they charge u miles, and then the upgrade, 4790 all in all its about 8500 with taxes, but we were under the impression we get rebates, am I wrong? the salesmen also asked her on the phone at the start, she said yes the dealer can do whatever it wants on there end, now GM sent numbers over and says rebats/incentives not applicable, does this sound right? has anyone done this recently? how did you deal go, I am so frustrated after 7 months of this I thought it was over

smrr1 · July 12, 2016

Rebates are offered to the dealer and passed along to the consumer i think. Also i believe that all rebates say they can not be used with other offers so guess its up to the dealer and they are trying to make the rebate for having to deal with you maybe.

jamin87ss · July 12, 2016

the girl @ HQ GM says no, the dealer says why not, and me and the salesmen asked and were told all was normal on dealer side and how they do it, none of the numbers match anywhere from gm

Silvern Sentry · July 12, 2016

There is a bit to unpack there OP.

I think you need to look at it as 2 separate deals, you are selling the original back to them (but owe buyout amount still) and then you are buying a different car. So if your car is worth say 5k more than you owe that is just a downpayment on the new one. The new one should be set up as its own deal.

Also I do not think a lot of manufacturer credits can be applied when they are done. May be a way a super user can go onto the system and apply them but I would think that super user would be GM and not the dealer. The manufacturer credits are all applied in a computer system, so its really what the system will allow. That said I believe if the dealership gave you anything in writing with the 'june' price they should honor it. If nothing is in writing you proabably cannot get that price/discounts any more.

jamin87ss · July 12, 2016

There is a bit to unpack there OP.

I think you need to look at it as 2 separate deals, you are selling the original back to them (but owe buyout amount still) and then you are buying a different car. So if your car is worth say 5k more than you owe that is just a downpayment on the new one. The new one should be set up as its own deal.

bye this i end up exactly where I think i should

15 Z71 · July 12, 2016

And what I was told as far as rebate's.. They change all the time. When I bought my truck they told me rebate's change all the time. Dealer aslo told me they did not know month to month what they would be. Don't know if that is true,but its what I got told.

jamin87ss · July 12, 2016

yes they change constantly, the question is has anyone done a buyback recently and got rebates, are the applicable

Silvern Sentry · July 12, 2016

yes they change constantly, the question is has anyone done a buyback recently and got rebates, are the applicable

Rebates do not apply to the buy back. All you care about in the buy back is what it is worth vs. what you owe + tax (you still have to pay the tax on the residual as the gov always gets thier cut). If it is more great that is now part of your down payment on new vehicle which should be negotiated completely separately. If it is less and you are on a close ended lease you give them they keys and walk away basically. But you do still owe the excess mileage in either case.

Then you simply make a new deal on a new lease. All rebates that are currently available should apply to the new vehicle. http://www.gmc.com/july-incentives.html Keep in mind you are not 'trading up your vehicle' technically speaking you are selling them yours and buying a different one. 2 separate deals going on.

If you are doing a new lease you should be concerned with these numbers and work from the top down, DO NOT work from the bottom up starting with a payment amount that is just 'playing with the numbers'. You want the exact values from the top down. It looks complicated but once you do it makes so much more sense. This is also how your dealership is calculating it so may as well be on the same page.

*these are not current numbers just an example!

*also interest paid should say /yr as interest rate in an annual thing but most leases are 0%

J rod · July 13, 2016

I am paying the difference in msrp on my old truck vs the new plus paying tax on the difference in price on the new because I have upgraded but that is my dealer some may be different it always seems like a lot of guys are taking it up the ass for some reason it is not our faults that GM is putting out 50k peices of shit so why should we have to pay the difference hope you get it figured out

jamin87ss · July 13, 2016

thanks guys, it is a buy not a lease, on the paper it said they were giving me 41xxx and selling me the new one with a 54760 msrp for 49xxx thats what the paper shows, but I'm told they are using my loan balance for the purchase price, so I don't f'n no, all I know is I still have a truck I wont drive and im up shXt creekand what they put on the table I simply cant do right now, even if i went to the 100% same truck its only 2880 different if i went with white instead of the crimson Red with the BS up charge to compare to my Sonoma red

hirdlej · July 13, 2016

Why wouldn't they just cut you a check in the amount of what you paid for the first truck? If it's not paid off, then a check that would have your down payment/TTL/and monthly payments?

Rather than do what you're doing, I'd rather have all my money back and go shopping again. That makes the most sense to me and you'd get the better deal in the end.

jamin87ss · July 13, 2016

agreed except for tax, then you would pay tax on full amount otherwise I totally get that, and honestly that would be better as well

J rod · July 13, 2016

Basically they are paying off my current loan and then taking that amount and putting that on the new truck which I am coming out ahead because I am moving up two years and up grading trucks for just the difference in msrp which I did not pay for my 15 8k off when I purchased it but they did say they will prob have to eat some of that but they want me happy so I can't bitch about that going to danali and 6.2 for 7500 but truck has not even been built yet just hope paint isn't dog shit on this one but am afraid I will prob have same issues

dave07 · July 13, 2016

You should be getting an MSRP to MSRP swap minus a mileage fee for when you first reported the issue (10-15 cents/mile is reasonable). The loan amount should remain the same UNLESS you are getting a higher MSRP truck which would be the difference in price+tax. I would say anything less than that you are getting screwed. Make sure they pay for the accessories on your current truck as well.

jamin87ss · July 13, 2016

You should be getting an MSRP to MSRP swap minus a mileage fee for when you first reported the issue (10-15 cents/mile is reasonable). The loan amount should remain the same UNLESS you are getting a higher MSRP truck which would be the difference in price+tax. I would say anything less than that you are getting screwed. Make sure they pay for the accessories on your current truck as well.

This is exactly how they say, I just was told u get rebates on new truck, so 7600 swing from what I planned/thought