It's smart to know about what you're buying, especially when you're considering a pre-owned luxury car or repurchased vehicle. It's tough to make a smart purchasing decision though when you're armed more with misinformation than facts.
Here are some of what we have found to be the most common misconceptions about manufacturer's buybacks - and the real truth other dealers don't always want you to know.
FACTS: While it's true that vehicles repurchased by a manufacturer may need repairs to correct problems, that isn't always the case. Vehicles are often repurchased as a gesture of goodwill to maintain a valued relationship with a loyal customer. In other instances, parts may not have been available promptly to fix a minor problem, and the customer may ask the manufacturer to buy back the vehicle. There are even cases where buyers will fabricate problems to get out of a vehicle if they know how to use the "Lemon Laws" to their advantage. And of course, there are times when a vehicle does have a legitimate mechanical problem that needs extra attention to correct. Regardless of the reason for a buyback, when a true problem does exist, the manufacturer not only wants to fix it, the company is required by law to fully correct any issues before the vehicle is offered for sale.
FACTS: Let's face it - the last thing a manufacturer wants is to purchase a vehicle. But when a repurchase is necessary, the manufacturer doesn't want to risk its reputation by failing to address the problem responsible for the buyback. You can be sure that any repurchased vehicle is thoroughly inspected to ensure that the original problem has been corrected and that the vehicle is in premium condition before it is cleared for resale. All purchased vehicles are offered for sale with the balance of the original manufacturer's warranty in effect. In addition, most vehicles also have a 12 months/12,000 miles warranty coverage on the mechanical system or part that was repaired under the buyback. With this assurance - and the option to extend that warranty coverage further still - the buyer can be sure that his vehicle meets or exceeds all manufacturer requirements.
FACTS: Hardly. Auto manufacturers - particularly those who produce luxury vehicles -- value their reputation as a maker of vehicles people love to drive and own. That prestige is a huge part of the value attached to the models that they sell, and it's an asset that auto manufacturers want to protect. It is our experience that the manufacturer is going to be very certain that the repurchased vehicle meets all requirements for performance before it is offered for sale.
FACTS: Not every state is required to note on the vehicle's title if it was once repurchased. In those states that do brands the vehicle's title with this information, you often get an even better price to compensate for this -- and you save that much more! In other states that are not subject to these requirements, you will have ac lean title. Remember, too, that as the public becomes more educated about the true value a repurchased vehicle offers, the buyback stigma will be less and less of an issue.
Instead, others will come to agree - as we do - that manufacturer buybacks offer knowledgeable car buyers a chance to own a premium vehicle at a highly affordable price. In fact, World Imports USA is so confident that this concern should not affect your buying decision that we offer to purchase your buyback vehicle from you at any time, providing that our required conditions are met.
Of course, when the time comes to sell or trade-in your repurchased vehicle, you should expect to receive a discounted price just as you enjoyed the benefit of a discounted price when you bought the vehicle.
FACTS: Remember that automotive sales are just a competitive business and not all dealers are able to offer repurchased vehicles for sale. As a result, some dealers don't want you to know the real value that a purchased vehicle can offer.
At Bonham Chrysler, we prefer to give you all the facts, offer the finest vehicles that represent the best values we can find - and then let you make the decision.
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