Repurchase Questions

[thatryan]

Hi all,

 

After several issues with my mylink system and yadda yadda, GM has reached out and sent me a letter talking about "Replacement" or "Repurchase" and I was wondering if anyone that has gone through this could share any tips on which option is better and what to look out for?

 

My truck is a 2017 Z71, 5.3. About 58,000 miles. I still own $19,000 on it to the bank.

 

Thank you.

[rav3]

What's their offer? Repurchase of your 2017?

[JimCost2014]

28 minutes ago, thatryan said:

Hi all,

 

After several issues with my mylink system and yadda yadda, GM has reached out and sent me a letter talking about "Replacement" or "Repurchase" and I was wondering if anyone that has gone through this could share any tips on which option is better and what to look out for?

 

My truck is a 2017 Z71, 5.3. About 58,000 miles. I still own $19,000 on it to the bank.

 

Thank you.

I have been part of both a "Trade Allowance", and a full "Buy Back".

 

They will give you fair market value for the truck, with a few deciding factors how they come with the figure. I would ask for specifics and details in writing before I pulled the trigger.

 

I came out in better shape both times on how much I owed, and total for monthly payments. If you do trade yours in on a new GM product, you can use all current rebates, and any incentives available (I was able to), so you can get a pretty sweat deal on the overall trade.
 

[KARNUT]

I had a 94 Ram diesel automatic that was popping it’s transmission lines. It was held by clips that would vibrate apart. I could have easily fixed the problem but if the transmission failed it would have been my problem. After a year of them unable to remedy the problem they exchanged for a 95. Instead of a 2 door diesel automatic. I got an extended cab V-10 5 speed. 

[thatryan]

2 hours ago, JimCost2014 said:

I have been part of both a "Trade Allowance", and a full "Buy Back".

 

They will give you fair market value for the truck, with a few deciding factors how they come with the figure. I would ask for specifics and details in writing before I pulled the trigger.

 

I came out in better shape both times on how much I owed, and total for monthly payments. If you do trade yours in on a new GM product, you can use all current rebates, and any incentives available (I was able to), so you can get a pretty sweat deal on the overall trade.
 

 

Did you own anything on yours when it happened? I am wondering how that works out letter I got doesn't have any specifics yet, still waiting on agent to contact me etc. But mentions I have to work with lender to substitute payment if I do a replacement? 

 

I would be eyeing a new 2022 if I do the replacement but would have to wind up with cheaper monthly payments ha

[JimCost2014]

36 minutes ago, thatryan said:

 

Did you own anything on yours when it happened? I am wondering how that works out letter I got doesn't have any specifics yet, still waiting on agent to contact me etc. But mentions I have to work with lender to substitute payment if I do a replacement? 

 

I would be eyeing a new 2022 if I do the replacement but would have to wind up with cheaper monthly payments ha

I was the registered owner on both. GM buys the truck from you, pays off your balance, and if there is equity, you can apply it towards your next loan. GM then owns the truck outright, will come and get it, then sell it at a local auction, which your current dealer can then buy.