Has anyone gone through the repurchase process? If so, can you share how it went?

[djsassan]

Hi all,

Yes, I did a search and read everything I could first.

I have a Yukon XL 2021 that had a major engine failure, twice. The engine was replaced, then less than 2 weeks later the new engine died again. The engine was again replaced, making it the third engine in 6 weeks in the vehicle. Long story short, GMC has agreed to repurchase the vehicle. I have asked for a trade-in to a new vehicle, with the understanding that I will NOT be able to get another 2021 (nor did I expect this). I am even willing to pay a bit more for it and get a 2023 XL Denali. I was told that my new purchase would be through the dealer directly, and not with GMC.

My question is, has anyone been through this RECENTLY and what was your experience. I am trying to understand what steps I should be taking to prepare myself and not be stuck without a vehicle or to minimize the downtime.

Thanks

 

[Fast_AT4]

Hi all,

Yes, I did a search and read everything I could first.

I have a Yukon XL 2021 that had a major engine failure, twice. The engine was replaced, then less than 2 weeks later the new engine died again. The engine was again replaced, making it the third engine in 6 weeks in the vehicle. Long story short, GMC has agreed to repurchase the vehicle. I have asked for a trade-in to a new vehicle, with the understanding that I will NOT be able to get another 2021 (nor did I expect this). I am even willing to pay a bit more for it and get a 2023 XL Denali. I was told that my new purchase would be through the dealer directly, and not with GMC.

My question is, has anyone been through this RECENTLY and what was your experience. I am trying to understand what steps I should be taking to prepare myself and not be stuck without a vehicle or to minimize the downtime.

Thanks

Never been thru it myself, but this comment struck my interest: "I was told that my new purchase would be through the dealer directly, and not with GMC." So it sounds like your going to have to wait in line or take whats on the shelf. Best of luck!

What was the failure btw? All the same issues or different problems?

 

[todayusay]

many many moons ago I worked at a dealership one summer, I had a guy come in with a $25k voucher towards any new vehicle. He was told he had to find and negotiate his deal on his own...granted he won this in a dewalt drill contest of all things where he had to screw in something like 5-6 sheet rock screws....but I'd guess a repurchase would be similar in that GMC is giving you $xx,*** in trade value towards whatever you decide to buy. If you can buy one at invoice, good for you...your chosen dealer makes you pay a market adjustment of $10k, that's on you.

I'd try and get your hands on some documents that outline the "repurchase price/process"

 

[OldBob]

Maybe a few $ spent on advice from a lawyer who deals in consumer issues might be in order. Not talking about a lawsuit but more of making sure you know what ground you stand on.

 

[Rick10Tahoe]

I went thru it in 2009, so not recently. But it was great in the end. GM gave me sticker price value of my original 2008 Tahoe and applied it to sticker of a 2010 Tahoe that I special ordered thru dealer. Also, any costs above the 2008 Tahoe price were charged to me at 50%. So I was very happy in the end. I'm still driving the 2010.

 

[rswaug]

What happens in a buyback scenario is that GM takes the invoice for your vehicle and invoice on the replacement vehicle. You end up being responsible for the net cost difference plus a mileage charge. Example would be that the net cost of your vehicle was $65000 and the net cost on the new one is $70000, you'd owe $5000 to move up. Depending on the situation, I've even seen GM waive the mileage on a buyback. Usually the mileage is somewhere between 15 and 20 cents per mile. You can order a vehicle and wait for GM to produce it or take one that's in stock. Most dealers aren't going to do a dealer trade because of the aggravation but I've also seen that happen before. Ultimately they're a pain in the dealer's rear end and they're going to feel like they're giving up an allocation for no profit so I'd try to at least make friends with them and be as flexible as possible. Ultimately, the dealer didn't build it and they feel like they're being punished for being the innocent party. If you go straight repurchase, GM will come up with some formula to make you whole and you can go buy whatever you'd like at that point but usually your best deal is a trade buyback.