Lemon law/ buy back car
02-13-2015, 12:28 PM
#1
Rennlist Member
Thread Starter
Lemon law/ buy back car
I was looking at a car for sale but it has a buyback on the car fax.
What do you guys think on buying one of this cars?
Also this car is GT silver and there is a post here with a list of buy backs car but
The list post it show no cars in GT silver
Was there any other cars beside the cars on that list?
What do you guys think on buying one of this cars?
Also this car is GT silver and there is a post here with a list of buy backs car but
The list post it show no cars in GT silver
Was there any other cars beside the cars on that list?
02-13-2015, 12:38 PM
#2
Drifting
I was looking at a car for sale but it has a buyback on the car fax.
What do you guys think on buying one of this cars?
Also this car is GT silver and there is a post here with a list of buy backs car but
The list post it show no cars in GT silver
Was there any other cars beside the cars on that list?
What do you guys think on buying one of this cars?
Also this car is GT silver and there is a post here with a list of buy backs car but
The list post it show no cars in GT silver
Was there any other cars beside the cars on that list?
02-13-2015, 01:27 PM
#4
Three Wheelin'
Do you know why it was a buy back? Is this one of the 2014 cars which PCNA agreed to buy back after the engine exchange program? If so, while there is a "stigma" to those that do not know, maybe it could be a good deal.
02-13-2015, 01:28 PM
#5
Would need a major discount to even think about getting involved.
02-13-2015, 02:58 PM
#6
Three Wheelin'
Plenty of people on here with a 2014 with a replaced engine. Most likely there is no difference from those cars other than the fact the original purchaser didn't want to keep it. That said it is your choice what you want to do. Personally I would do it if i didn't already have a 2015 in my garage...
02-13-2015, 03:08 PM
#7
Rennlist Member
The engine replacement issue affected numerous 2014 models at the start of the model run. Some were in customers hands, others were in Porsche's hands somewhere in their finished car delivery supply chain when the replacement program was put into effect.
The fact that the engines were replaced also yielded an additional year of warranty and a PAG certificate noting same. My car had just left the factory, was sitting there waiting to be loaded onto the ocean transport, and it was called back for engine replacement at the factory. Other cars already in owners hands were brought back to the dealer on flatbeds and the local dealer service department replaced the engine.
These cars should be absolutely fine performance wise and as noted above they come with full warranty. Some fraction of potential future used buyers of this model may know of the issue and they may want to stay away from these cars. Depends how much that matters to you.
You can decide what you want to do but these are the fine points.
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02-13-2015, 03:56 PM
#8
Details matter here. The fact that it notes 'buyback' status on the Carfax does not mean it has a branded title necessarily. You need to confirm that. If the actual title is tainted then of course a steep discount should apply.
The engine replacement issue affected numerous 2014 models at the start of the model run. Some were in customers hands, others were in Porsche's hands somewhere in their finished car delivery supply chain when the replacement program was put into effect.
The fact that the engines were replaced also yielded an additional year of warranty and a PAG certificate noting same. My car had just left the factory, was sitting there waiting to be loaded onto the ocean transport, and it was called back for engine replacement at the factory. Other cars already in owners hands were brought back to the dealer on flatbeds and the local dealer service department replaced the engine.
These cars should be absolutely fine performance wise and as noted above they come with full warranty. Some fraction of potential future used buyers of this model may know of the issue and they may want to stay away from these cars. Depends how much that matters to you.
You can decide what you want to do but these are the fine points.
The engine replacement issue affected numerous 2014 models at the start of the model run. Some were in customers hands, others were in Porsche's hands somewhere in their finished car delivery supply chain when the replacement program was put into effect.
The fact that the engines were replaced also yielded an additional year of warranty and a PAG certificate noting same. My car had just left the factory, was sitting there waiting to be loaded onto the ocean transport, and it was called back for engine replacement at the factory. Other cars already in owners hands were brought back to the dealer on flatbeds and the local dealer service department replaced the engine.
These cars should be absolutely fine performance wise and as noted above they come with full warranty. Some fraction of potential future used buyers of this model may know of the issue and they may want to stay away from these cars. Depends how much that matters to you.
You can decide what you want to do but these are the fine points.
02-13-2015, 04:07 PM
#9
It is all about asset depreciation and flexibility, which means it is something balanced between how much you pay for the car, how long you plan to keep it, and the most subjective, how much pleasure will you get out of it. It will be harder to sell in the future, more so in five years as opposed to ten years. To maximize value, you need to either get extra depreciation mitigated with a discount or don't give a sh*t and enjoy the car. These are toys and they have opportunity costs.
02-13-2015, 04:17 PM
#11
It is all about asset depreciation and flexibility, which means it is something balanced between how much you pay for the car, how long you plan to keep it, and the most subjective, how much pleasure will you get out of it. It will be harder to sell in the future, more so in five years as opposed to ten years. To maximize value, you need to either get extra depreciation mitigated with a discount or don't give a sh*t and enjoy the car. These are toys and they have opportunity costs.
02-13-2015, 04:51 PM
#12
Every 2014 model GT3 had the engine replaced. There were a group that Porsche bought back from unhappy buyers - those are the ones with potentially branded titles.
Those who kept their 2014's even though they were not allowed to drive them for months, were rewarded with some cash and an extra year of warranty. I do not know if the buyback cars also include any additional warranty - check on that for sure, or get them to CPO it.
The bottom line - the buyback cars are no different than any other 2014 GT3. However, in the future, they will have the stigma of that entry on the CarFax which may or may not affect the resale or trade value. It likely won't matter to those who know the entire story. It likely will to the uninformed.
Also, with most new GT3's selling at or near MSRP, I doubt a dealer would offer a significant discount, even on a buyback 'lemon' car. They will have no trouble finding a buyer. What happens to that buyer in a few years may be another story.
Those who kept their 2014's even though they were not allowed to drive them for months, were rewarded with some cash and an extra year of warranty. I do not know if the buyback cars also include any additional warranty - check on that for sure, or get them to CPO it.
The bottom line - the buyback cars are no different than any other 2014 GT3. However, in the future, they will have the stigma of that entry on the CarFax which may or may not affect the resale or trade value. It likely won't matter to those who know the entire story. It likely will to the uninformed.
Also, with most new GT3's selling at or near MSRP, I doubt a dealer would offer a significant discount, even on a buyback 'lemon' car. They will have no trouble finding a buyer. What happens to that buyer in a few years may be another story.
02-13-2015, 05:21 PM
#13
Rennlist Member
Every 2014 model GT3 had the engine replaced. There were a group that Porsche bought back from unhappy buyers - those are the ones with potentially branded titles.
Those who kept their 2014's even though they were not allowed to drive them for months, were rewarded with some cash and an extra year of warranty. I do not know if the buyback cars also include any additional warranty - check on that for sure, or get them to CPO it.
The bottom line - the buyback cars are no different than any other 2014 GT3. However, in the future, they will have the stigma of that entry on the CarFax which may or may not affect the resale or trade value. It likely won't matter to those who know the entire story. It likely will to the uninformed.
Also, with most new GT3's selling at or near MSRP, I doubt a dealer would offer a significant discount, even on a buyback 'lemon' car. They will have no trouble finding a buyer. What happens to that buyer in a few years may be another story.
Those who kept their 2014's even though they were not allowed to drive them for months, were rewarded with some cash and an extra year of warranty. I do not know if the buyback cars also include any additional warranty - check on that for sure, or get them to CPO it.
The bottom line - the buyback cars are no different than any other 2014 GT3. However, in the future, they will have the stigma of that entry on the CarFax which may or may not affect the resale or trade value. It likely won't matter to those who know the entire story. It likely will to the uninformed.
Also, with most new GT3's selling at or near MSRP, I doubt a dealer would offer a significant discount, even on a buyback 'lemon' car. They will have no trouble finding a buyer. What happens to that buyer in a few years may be another story.
02-13-2015, 05:36 PM
#14
Drifting
Sure, and the dealer of course didn't advertise or emphasize that the car had a branded title, assuming that it did. However, if you take that car to a dealer in the future, you are just giving them an excuse to beat you up on the trade because of the branded title. That's just the way it works in car sales. Branded title = trouble at trade time. Doesn't mean there is anything wrong with the car.
02-13-2015, 06:14 PM
#15
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I was looking at a car for sale but it has a buyback on the car fax.
What do you guys think on buying one of this cars?
Also this car is GT silver and there is a post here with a list of buy backs car but
The list post it show no cars in GT silver
Was there any other cars beside the cars on that list?
What do you guys think on buying one of this cars?
Also this car is GT silver and there is a post here with a list of buy backs car but
The list post it show no cars in GT silver
Was there any other cars beside the cars on that list?