GM Buyback

Hello,

We are looking far and wide for an XLR. One that we see is a GM Buyback. An 05 with 10K miles. They say the complaint was fluid leak and stall. GM apparently replaced the radiator, battery, and brake control module. They offer a 12 mo 12k warranty. I am going to find if it is extend-able. Does anyone have any advice on GM Buyback or on this cars previous problems. Thanks in advance for anyone who takes time to respond. I belong to another forum as I am a Pontiac enthusiast and it is a great thing.

Dave

Hello,

We are looking far and wide for an XLR. One that we see is a GM Buyback. An 05 with 10K miles. They say the complaint was fluid leak and stall. GM apparently replaced the radiator, battery, and brake control module. They offer a 12 mo 12k warranty. I am going to find if it is extend-able. Does anyone have any advice on GM Buyback or on this cars previous problems. Thanks in advance for anyone who takes time to respond. I belong to another forum as I am a Pontiac enthusiast and it is a great thing.

Dave
Dave:

Welcome to the XLR Forum. If you end up with this car or another one I am sure you will value the members here and their extensive experience with the XLR. Also, We have tried to maintain lots of information about the cars and issues that come up.

REGARDING YOUR QUESTION--I doubt that you will be able to obtain any other warranty for the car other than the one the dealer is offering because it is a GM Buyback. You can try though. See if you can obtain a GMPP warranty for the longest time available. Based on the year of your car you will have to have one that is still under the original factory warranty or you are ineligible for a GMPP warranty. There are others though but this is the only one that cover the top and all of its components. VERY IMPORTANT.

Also remember the GM Buyback stigma says with the car essentially forever. So if you want to sell it later on you will run into problems with prospective buyers. Carfax records this issue so it will show up.

My Recommendation--Move on and find another one that can be covered with a GMPP Warranty. You will have to shop the 2006 year and up though.

Regards

Jerry

Dave,

There are several things to consider with a 'buy-back' car:


Financing - I was unable to finace one through the credit union I belong to and some banks look at them the same way because it is difficult to establish a fair market value on the car
Resale - as mentioned above
Usually a buy-back has had the defficiencies corrrected by GM, but a check of the service history (available from any GM dealer) is important along with a Carfax report.
How good a price and warranty are you able to negotiate with the sellerRufcar, a member of this forum bought a buyback that I was considering, but was able to negotiate an acceptable price and warranty. I believe was happy with his experience. If he is still monitoring this forum, he may have additional advice, based on his experience. If he does not respond, you may want to send him a private email (you can find his email under his profile).

Good luck!

Jon

Dave,

Getting GM to initiate a buy-back is no small matter. The previous owner was so tired of taking the car in for service, that they just gave up on it. "Fluid leaks and stalling" are kind of generic. Before you can make any guesstimate as to the reliabilty of ths car, you have to have a dealer print out the entire service history. Bad radiators were synonomous with 04-05 years. Replacing a battery on a five year-old car isn't unusual. Tht leaves the brake control module. None of these are major repairs to warrant a buy-back. Were you shown the complete history of the vehicle?

If you can't get an extended warranty (GMPP) you might want to keep looking. A major consideration when buyng a used XLR, an extended waranty is a MUST-have with a buy-back. Even with a twelve-month warranty, it could be in the shop for extended periods of time. And as previously stated, the Buy-Back stigma never goes away, should you try to sell the vehicle later.

With so many (reasonably reliable) XLRs out there for sale, there's no reason to get too attached to one that someone had so many issues with that GM took it off their hands. If it starts having more issues, (even under warranty like the previous owner) you probably aren't going to enjoy the ownership experience any more than the previous owner(s). Just because the price of older model XLRs have sunk to levels that have become very affordable, it doesn't necessarily mean you're getting a "good deal". Reliability is directly proportional to owner satisfaction. If in doubt, keep shopping. You've made a smart first step by learning about the car through forums like this. There are some very knowledgeable owners here who can answer most any questions you have. Buy the right vehicle and you'll strike XLR gold!

Good luck!
CC :cheers

Thanks for the detailed responses guys. If we pursue this car and I learn anything new about it or the program I will share it with you on this thread. I think though, based on your collective responses, that we will look elsewhere.

Thanks again!

Dave

Hi, I bought an XLR from a Chevy dealer that was a buy back.. I have now had the car for 3 years with minimum problems. As you mentioned you will get a 12 month 12 year bumper to bumper warranty..This warranty can be extended with the GMPP.. I bought it and negotiated with the dealer for the extention.. we shared the cost. You will recieve a detailed explanation as to why the car was lemoned and what was done to correct the problems. In my case it was a chronic rear end problem..After the previous owner dumped it GM replaced the whole rear end assembly.. I have never had a rear end problem with my XLR for over 30k miles of use.

You should be able to negotiate a substantially reduced price. I paid less than75 percent of what the cars were going for when I purchased. The title will say lemon law buy back so don't expect to resale at the going prices.. but you bought it cheaper in the first place.

Good luck..

Hi, I bought an XLR from a Chevy dealer that was a buy back.. I have now had the car for 3 years with minimum problems. As you mentioned you will get a 12 month 12 year bumper to bumper warranty..This warranty can be extended with the GMPP.. I bought it and negotiated with the dealer for the extention.. we shared the cost. You will recieve a detailed explanation as to why the car was lemoned and what was done to correct the problems. In my case it was a chronic rear end problem..After the previous owner dumped it GM replaced the whole rear end assembly.. I have never had a rear end problem with my XLR for over 30k miles of use.

You should be able to negotiate a substantially reduced price. I paid less than75 percent of what the cars were going for when I purchased. The title will say lemon law buy back so don't expect to resale at the going prices.. but you bought it cheaper in the first place.

Good luck..
Welcome to the XLR Forum!! Your 1st post already qualifies you as a great member.

This issue has never in my experience had the granularity that you provided. I hope it helps prospective XLR buyers in making more informed decisions.

Thank you

Jerry