I have run across a 2011 GS coupe with 4000 miles on it. It has the color and options that I want. It was a GM buy back due to a paint blemish on the front of the hood. It was repainted and looks great. The dealer has paperwork explaining the buy back and subsequent repaint. The price is below market value. Do you think that this 'buy back' would be a problem in the future when I would put the car up for sale?
Grand Sport 2011 GS Coupe with Factory Buy Back
- Thread starter glogsdon1
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For discussions related to a Grand Sport Corvette.
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Toms007
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Welcome to CAC, glogsdon. If I had the letter explaining the buy back, I would not hesitate to purchase such a car, but that's me.
Hib Halverson
Technical Writer for Internet & Print Media
My belief is that the "buy back" is a matter of record and that anyone running a "CARFAX" on that VIN will discover it.
If that's correct, I suspect that the car's resale value will be compromised somewhat, but....you're getting the car at a discount and, if a future buyer is aware of the buy back, you'll have to sell it at a discount. The net result may leave you at "even money".
If your intent is to buy low (because of the buy back) and eventually sell high (at a price you could get if someone was unaware of a buy back), then I'd do some research on how your State records a buy back in the car's title history before I'd buy the car.
froggy47
Well-known member
If it shows on the title or history at all then many (most?) potential buyers will just take a pass and not want to hear the "story" behind the buyback. So if YOU get a big enough discount YOU will have to pass it on to the next buyer.
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bill81vette
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welcome to CAC!!!
Good Luck with the GS!!!!!!
Good Luck with the GS!!!!!!
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My 2004 Caddy CTS V was a "buy back" car. I never gave it a second thought and enjoyed it for almost 7 years.
When it came time to sell it, those that pulled the Carfax on it and didn't like what they read missed a great deal on the car. Their loss. A few asked about the 'buy back' issue and I explained it to them. Even after that, some still walked away from the car. Again, their loss. I sold it to someone that didn't mind the issue.
So, if you're looking for a car to drive and enjoy, don't give it a second thought. If you're looking for an investment and a high resale value, you might want to look elsewhere as it will be an issue for some in the future - even 7 years later. Go figure!
When it came time to sell it, those that pulled the Carfax on it and didn't like what they read missed a great deal on the car. Their loss. A few asked about the 'buy back' issue and I explained it to them. Even after that, some still walked away from the car. Again, their loss. I sold it to someone that didn't mind the issue.
So, if you're looking for a car to drive and enjoy, don't give it a second thought. If you're looking for an investment and a high resale value, you might want to look elsewhere as it will be an issue for some in the future - even 7 years later. Go figure!
JimVette
Well-known member
If you are buying as an investment with the intention of making money in a few years.........Good luck! If that is your intention then the money put in a passbook savings will make more money. Ask anybody with a 200 mile '90 ZR-1 or a low mile anniversry car and get their opinion. Everybody is looking for that future L-88.
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Too bad I'm not looking for a GS right now.
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