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Gm lease buyback

ullose272
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ullose272 Enthusiast

ullose272

Posted
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Anyone had any experience with a gm buyback on a lease? Ive had the same problem that has had me limping this thing back to the dealer for what will be the third time tomorrow, im pretty fed up with it, i cant trust the truck. Any thoughts

 

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f8l vnm Senior Enthusiast

f8l vnm

Posted
Posted

Every state is different , but i would for sure contact the BBB . My personal experience is that GM will try to play games . 

I also believe its the 4th time something goes bad , in which you will have a real case on your hand. So they have to fix it 3 times and the 4th would be the kicker. 

Again this my own personal experience as my 2014 was a lemon

Supercup Enthusiast

Supercup

Posted
Posted

I just traded a 2019 AT4 Carbon Pro that was leased - 12 months into a 36 month Lease - dealer took the truck back - leased a new 2020 Carbon Pro - lease interest rates for 2020's are way down from my 2019 (1.6% vs 5.4%) - so my pmt went down by $30 per month - went from 9k miles to 3 - exact same options on both truck - except 2020 had trailer tow mirrors.

 

So I was able to swap out, cost me $1,100 in drive off's but $732 of that was first lease payment - so I got new truck with tow mirrors I wanted for $368.  Maybe you can find similar deal on new lease - avoid all the buyback head aches!

 

I would ask your dealer to put you directly in touch with their regional rep with GM - they will be able to  address your situation more quickly - if they can find a way to make you happy and put you into another GM car or truck - they will be motivated to make you happy.  If you are done with GM - lemon law by back process will be your only option. 

 

Good luck finding a good, quick resolution! 

ullose272 Enthusiast

ullose272

Posted
  • Author
Posted
I just traded a 2019 AT4 Carbon Pro that was leased - 12 months into a 36 month Lease - dealer took the truck back - leased a new 2020 Carbon Pro - lease interest rates for 2020's are way down from my 2019 (1.6% vs 5.4%) - so my pmt went down by $30 per month - went from 9k miles to 3 - exact same options on both truck - except 2020 had trailer tow mirrors.
 
So I was able to swap out, cost me $1,100 in drive off's but $732 of that was first lease payment - so I got new truck with tow mirrors I wanted for $368.  Maybe you can find similar deal on new lease - avoid all the buyback head aches!
 
I would ask your dealer to put you directly in touch with their regional rep with GM - they will be able to  address your situation more quickly - if they can find a way to make you happy and put you into another GM car or truck - they will be motivated to make you happy.  If you are done with GM - lemon law by back process will be your only option. 
 
Good luck finding a good, quick resolution! 
Thanks, im not done with gm. I went down and talked to them, they are getting another shot at fixing it, if they cant they will get gm involved to "help".

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Mike Borowski Enthusiast

Mike Borowski

Posted
Posted
22 hours ago, Supercup said:

I just traded a 2019 AT4 Carbon Pro that was leased - 12 months into a 36 month Lease - dealer took the truck back - leased a new 2020 Carbon Pro - lease interest rates for 2020's are way down from my 2019 (1.6% vs 5.4%) - so my pmt went down by $30 per month - went from 9k miles to 3 - exact same options on both truck - except 2020 had trailer tow mirrors.

 

So I was able to swap out, cost me $1,100 in drive off's but $732 of that was first lease payment - so I got new truck with tow mirrors I wanted for $368.  Maybe you can find similar deal on new lease - avoid all the buyback head aches!

 

I would ask your dealer to put you directly in touch with their regional rep with GM - they will be able to  address your situation more quickly - if they can find a way to make you happy and put you into another GM car or truck - they will be motivated to make you happy.  If you are done with GM - lemon law by back process will be your only option. 

 

Good luck finding a good, quick resolution! 

How did you get out of a lease?  Did the 2019 have issues?  

 

Side Note:  Your lease payment is $732??

kpanza Enthusiast

kpanza

Posted
Posted

I am 6 months in on my 2020 SLT, and currently waiting for my '21 SLT...my truck was in shop for over 60 days in the first 3 months, GM offered right away to do a buyback or replacement.  Because my situation was kind of unique due to Covid shutting everything down (had bad tranny leak that they couldn't get parts for after the 1st botched attempt), I am giving GMC another go on a '21 replacement truck.  All I am waiting for is the new lease payment info (the process is totally backwards, they can't give you a price until their is a VIN#!)  If the payment stays same or close to it, I will go ahead with the new '21 (has additional options like Tech pkg, tow mirrors, and a few deletions of stuff I don't use on my current truck - sunroof, etc).  If the payment is not close to what I have now, I will just keep what I have.  I also of course have the option of a straight Buyback.

 

So yes, if your truck qualifies for your state's Lemon laws, GM can and will get you out of a lease.

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