Purchasing a Lemon-Buyback 2018 GT350

fearthesnake · Sep 27, 2020

Thinking about pulling the trigger on this Vehicle but not sure about how to gauge offering or buying a Lemon car from a appraisal perspective. Typically, is 15% below the price about right considering diminished value?

The detail behind the car: Oasis report shows an Engine replacement (Oil Consumption) around 8,000 miles. It also had the AC compressor replaced 3 times and the entire AC system replaced once. Car has 13,000 miles on it now.

The carfax shows some type of accident but I can't find what happened there - nor do I see any visual damage other than 2-3 door dings on the Passenger side.

Rims/Yellow stripes I'm not a fan of either but the Dealer has said they will order the stock rims to put back on the Car. Anyone know what these after market rims are, 6GR Project rims - they good?

So I took it for a good test drive, drove it hard and car handled out of this world. I was actually impressed with the top end pull. Nothing like my current GT500 of course but the car overall drives great and I really liked it.

So I dropped the Oasis history bomb to the Dealer yesterday and either they were playing "Coy" or really knew nothing behind it. I'm going to let that fester for a couple days before making an offer.

Is $44K to low you think? That is roughly 15% off but considering the History of the car, The buyer is taking a chance imo. I would also have to buy an extended warranty out of my pocket.

Used 2018 Ford Shelby GT350 For Sale at Jaguar Land Rover Porsche Volvo of Greenville | VIN: 1FA6P8JZ9J5500217

Thoughts?

DAVESVT2000 · Sep 27, 2020

@13COBRA

DAVESVT2000 · Sep 27, 2020

Personally, I would not buy said car.

fearthesnake · Sep 27, 2020

DAVESVT2000 said:
Personally, I would not buy said car.

Because of the Resell value or concerns it will still be a Lemon and have issues?

2000GTSTANG · Sep 27, 2020

I don’t see a dealer going to $44k from where it’s priced now.

CobraBob · Sep 27, 2020

Yea, it is doubtful that you'll get a fair price from the dealer. If you like it and can accept that it was a Lemon Law car then make what you consider to be a fair offer and stick to it. If they want more than you're willing to pay, then walk away.

I like the yellow thin stripes with that particular gray and black paint scheme. I would actually prefer it.

Black02GT · Sep 27, 2020

fearthesnake said:
Thinking about pulling the trigger on this Vehicle but not sure about how to gauge offering or buying a Lemon car from a appraisal perspective. Typically, is 15% below the price about right considering diminished value?

The detail behind the car: Oasis report shows an Engine replacement (Oil Consumption) around 8,000 miles. It also had the AC compressor replaced 3 times and the entire AC system replaced once. Car has 13,000 miles on it now.

The carfax shows some type of accident but I can't find what happened there - nor do I see any visual damage other than 2-3 door dings on the Passenger side.

Rims/Yellow stripes I'm not a fan of either but the Dealer has said they will order the stock rims to put back on the Car. Anyone know what these after market rims are, 6GR Project rims - they good?

So I took it for a good test drive, drove it hard and car handled out of this world. I was actually impressed with the top end pull. Nothing like my current GT500 of course but the car overall drives great and I really liked it.

So I dropped the Oasis history bomb to the Dealer yesterday and either they were playing "Coy" or really knew nothing behind it. I'm going to let that fester for a couple days before making an offer.

Is $44K to low you think? That is roughly 15% off but considering the History of the car, The buyer is taking a chance imo. I would also have to buy an extended warranty out of my pocket.

Used 2018 Ford Shelby GT350 For Sale at Jaguar Land Rover Porsche Volvo of Greenville | VIN: 1FA6P8JZ9J5500217

Thoughts?

Thats a really sharp looking car. Tough one, I'd want it but a lot of money for not having a clean history. Good advice above.

Just don't know if its a smart buy financially. Then again who am I to talk dumping thousands into a car with ZERO resell.

ANGREY · Sep 27, 2020

This post is indicative as to why you should pass.

Unless you plan on owning the car until you die, I'd pass, especially with so many viable/decent value options on the market. If you ever go to resell, the future buyer(s) are going to have the same apprehension you have now and thus the asking price will be severely depressed.

If the car is confidently fixed/resolved and adequately protected through extended warranty, that's the first block to check. The next one is to ensure you buy it at a price that you could sell it for the same price the next day.

Think of it this way, if you lost your job and had piling medical bills next month that made you need to get rid of the car quickly, what would be the price (in your mind) that would allow you to unload the car? THAT is the price you should be willing to buy it at.

DAVESVT2000 · Sep 27, 2020

I personally do not care about resale value as I usually keep my cars for many many years.

I would be more concerned with it still being a lemon and having issues both in and out of warranty

HiTechRedneck · Sep 28, 2020

We recently bought my wife a 17 for $49K - it has a clean Oasis & Carfax, only 4,011 miles and about $9K in mods with headers, X pipe, CAI, dyno tune, lowering springs etc. and it is spotless if that helps.

Weather Man · Sep 28, 2020

The dealer will pass on your offer and just wait for the guy that knows dick and thinks the car is nice.

Lambeau · Sep 28, 2020

Salesman are not playing coy, they simply don't give a shit. The only reason why a Jaguar/Land Rover/Porsche/Volvo dealer has a car like that is it's a shiny thing for suckers to buy.

GDDYUP · Sep 28, 2020

I doubt the dealer will go that low regardless of whether they knew the history of the car or not. There's almost always a point where the dealer will just want to get the car off their inventory and that's typically when they'll take much lower offers. If that's not the time for this car, they'll just wait for someone to come along who knows nothing about it and pawn it off on them.

That being said, it's a nice looking car. I'd be hesitant if it was something I didn't intend to keep long term, but if it's your idea to keep it for awhile and have fun with it, as long as the repairs were done right and the car checks out, I would make them your best reasonable offer and then see how things shake out. I certainly wouldn't pay asking price or near it with the history, but the dealer probably won't care a thing about that.

fearthesnake · Sep 28, 2020

GDDYUP said:
I doubt the dealer will go that low regardless of whether they knew the history of the car or not. There's almost always a point where the dealer will just want to get the car off their inventory and that's typically when they'll take much lower offers. If that's not the time for this car, they'll just wait for someone to come along who knows nothing about it and pawn it off on them.

That being said, it's a nice looking car. I'd be hesitant if it was something I didn't intend to keep long term, but if it's your idea to keep it for awhile and have fun with it, as long as the repairs were done right and the car checks out, I would make them your best reasonable offer and then see how things shake out. I certainly wouldn't pay asking price or near it with the history, but the dealer probably won't care a thing about that.

Yea, I passed. They didn't come down much at all this morning, $2K off asking but with 4 new Rims/Tires which I expect is $2K-$3K costs.

Can certainly find one with lower mileage and no history at a better price.

DAVESVT2000 · Sep 28, 2020

Good move

id gladly pay a little more for a car with no issues / no bad history

fearthesnake · Sep 28, 2020

DAVESVT2000 said:
Good move

id gladly pay a little more for a car with no issues / no bad history

I'm a little pissed the Dealership is not listing/advertising the car as such. It clearly has the "Reacquired by Manufacturer" Label on the Door sill. No where on the advertising do they list it. In fact, I got into an argument with the Sales Mgr over it who refused to acknowledge the Oasis Report or the Label on the Door. The Carfax showed an accident but doesn't list the work done by Ford. I went back into the Listing today and the Carfax is now not there, you have to pay for it now. If I had not had my friend at Ford pull the Oasis, would have never known the car had all this work done.

This is a major Lexus/Porsche/Land Rover dealership but no longer owned locally.

They gave me some BS that the car won't pass inspection because of the Rims and were putting the stock rims back on. I think this will be the way around their justification on the Price.

Derfinitely makes it easier to walk away but they will definitely screw somebody over I'm afraid.

CobraBob · Sep 30, 2020

Which is why the dealer isn't budging much on the price. They know full well someone will be overwhelmed by the car and make an impulse buy. Makes me wonder how many people really take the time to check out the history on a used car. Or do many get sucked in by the dealership/salesperson hype about the car.

ANGREY · Sep 30, 2020

CobraBob said:
Which is why the dealer isn't budging much on the price. They know full well someone will be overwhelmed by the car and make an impulse buy. Makes me wonder how many people really take the time to check out the history on a used car. Or do many get sucked in by the dealership/salesperson hype about the car.

It gives dealers a shitty reputation is what it does. I detest "gubmint" but there are many states that had to pass laws that force dealers to disclose things like flood damage (they were just shipping them out of state and reselling without telling the buyer). Dealers in each state have deep pockets for lobbying bullshit laws (like the laws that prevent you from buying directly from a manufacturer).

Just goes to show that buying a car is really swim at your own risk. And the manufacturers don't do squat to ensure the dealers aren't ruining their good name (I'd imagine it gets even more shady when a dealership is selling a used, non flag make/model).

fearthesnake · Sep 30, 2020

ANGREY said:
It gives dealers a shitty reputation is what it does. I detest "gubmint" but there are many states that had to pass laws that force dealers to disclose things like flood damage (they were just shipping them out of state and reselling without telling the buyer). Dealers in each state have deep pockets for lobbying bullshit laws (like the laws that prevent you from buying directly from a manufacturer).

Just goes to show that buying a car is really swim at your own risk. And the manufacturers don't do squat to ensure the dealers aren't ruining their good name (I'd imagine it gets even more shady when a dealership is selling a used, non flag make/model).

Agree. Both you and Bob are correct.

No telling how many people get screwed over on deals without doing their due diligence.

I guess people just don't care about having a $1,000 payment for 84 months and have money to spare.

Pay to Play has never been more truer now than ever before.

fearthesnake · Oct 1, 2020

Got a call from the sales guy on this car. It's going to Auction now as to many complaints on the price and buyback/Lemon sticker on it.

I would be surprised if they get $45K at auction but will see. I told the Rep my offer still stands.

Purchasing a Lemon-Buyback 2018 GT350

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