Repurchase program? GM said eligible...

[Immaculate Reflections]

Anyone gone through GM's repurchase (buyback) program? 6 weeks after a broken valvespring on my '15 6.2, they told me today that it is eligible for repurchase. I hit 50k miles today and I'm wondering what the amount they give is? At no point in the many calls with GM did they say "lemon" or "lemon law repurchase" so wondering if anyone has been through it at or near this many miles?  Is it the full purchase price and tax+luv of the truck or is it more like private party/trade in value?

 

 Local dealer is supposed to contact me next week to discuss the $ part, but I don't want to go in blind.

[duquephart]

50K discount.

[Immaculate Reflections]

9 hours ago, duquephart said:

50K discount.

I don't understand 

[duquephart]

3 hours ago, Immaculate Reflections said:

I don't understand 

 

They're not going to allow full purchase price with 50K on the clock.

[KARNUT]

I had a repurchase on a 94 Ram diesel. It was a stupid problem with clips in the transmission line that would come out. After a year and 40K miles the transmission started to go from constantly losing fluid. I got most of my money back less miles on a trade in for a 95 Ram with a stick. Basically I started over with no additional cost.


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[redwngr]

If it's fixed, why do a buy-back anyway?

 

For sure you will have to pay something for the 50,000 miles of usage.

 

 

[Immaculate Reflections]

28 minutes ago, redwngr said:

If it's fixed, why do a buy-back anyway?

 

For sure you will have to pay something for the 50,000 miles of usage.

 

 

I've had vehicles with 200k and over 300k that were pushed hard and never broke a valvespring.  Having that happen on my $55k truck after 46,000 miles really makes me question the reliability of this motor.  I do love this truck and not sure I want to part with it, but I have to admit it does make me seriously question its reliability.  Also it happened at 50mph on cruise control....not driving hard.

 

What do you think the $/mile adjustment is?  $0.25? $0.50 per mile? 

[brendon444]

4 hours ago, Immaculate Reflections said:

I've had vehicles with 200k and over 300k that were pushed hard and never broke a valvespring.  Having that happen on my $55k truck after 46,000 miles really makes me question the reliability of this motor.  I do love this truck and not sure I want to part with it, but I have to admit it does make me seriously question its reliability.  Also it happened at 50mph on cruise control....not driving hard.

 

What do you think the $/mile adjustment is?  $0.25? $0.50 per mile? 

let me no how this works out. I submitted a claim for trade assistance as my truck had to have cam replaced and all lifters from pitting and wear. I questioned future reliability and possibility of metal in the bottom end. My claim is being reviewed. What did you do to have to get this done as it sounds our engine troubles would of been similar. 

[Yotaman]

I can't help but wonder when GM says buyback do they really mean trade in ? Or do they actually give you a better than average deal to compensate for the bad taste in your mouth after their vehicle fails.

 

22R

[brendon444]

8 hours ago, Yotaman said:

I can't help but wonder when GM says buyback do they really mean trade in ? Or do they actually give you a better than average deal to compensate for the bad taste in your mouth after their vehicle fails.

 

22R

I got offered to trade on a new one. Waiting to hear the numbers from gm and if they are indeed better than a dealer. 

[cperk]

I got offered to trade on a new one. Waiting to hear the numbers from gm and if they are indeed better than a dealer. 

 

[cperk]

I got offered to trade on a new one. Waiting to hear the numbers from gm and if they are indeed better than a dealer. 

Did you ever hear anything back?


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[O_J_Simpson]

You will get a touch over actual value.

[Immaculate Reflections]

One dealer opted out of the buyback problem (said they don't like to do them period).  Waiting to hear from the next one.

Unless the offer blows my mind (unlikely) I'll keep it.

[TJay74]

There are two ways GM will handle this, a full on GM buyback where the vehicle goes to auction with no warranty and a dealer trade assistance where GM will kick in some trade assistance money to the dealer to allow you to trade in towards another GM purchase.

 

GM buybacks are rare but they do happen. Typically they take the purchase price, subtract wear and tear for the mileage and then that is your offer for buyback. The amount that they offer you for the wear and tear can be negotiated.

 

GM trade assistance is where the dealer gives GM a trade value on the vehicle. You tell GM where you want to be on the value, GM will kick in some trade assistance money to the dealer. Then the dealer will either put you into a vehicle they have, they can locate a vehicle or you can order a vehicle. Be forewarned, GM has to have the VIN of the vehicle for the trade deal. You only have one shot at this, so make sure the vehicle that you pick out is the one you want. Once the dealer submits the VIN to GM for the deal you are locked in, otherwise if you balk then you have to start the entire process with GM all over from the beginning.

I got a GM buyback of my 2014 Sierra for the radio issues and went the trade assistance route.