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Dealership wants to buy car back?

Jedi5 December 26, 2011 at 08:34 PM
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Within the last 2-3 weeks I'm getting hammered by my dealership who wants to buy my SUV back that I bought from them less than 1 year ago. Something about low inventory on used cars.

Anyone else get called or emailed about a dealership wanting to buy your vehicle back?
If so, did you do it?

20 Comments

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#2
pretty much just a sales method, not really much more to it other than they want to push out new cars before end of month
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#3
No, haven't had such a thing happened yet.
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#4
Not the first new car I've bought but it is the first time a dealer has wanted to buy the vehicle back.

I get it's a sales method and they are hoping you buy something else from them so it's a win/win for the dealership. But what if you sell your vehicle and don't buy anything?
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#5
Quote from Jedi5 View Post :
Not the first new car I've bought but it is the first time a dealer has wanted to buy the vehicle back.

I get it's a sales method and they are hoping you buy something else from them so it's a win/win for the dealership. But what if you sell your vehicle and don't buy anything?
They will probably low ball you and won't be worth your time. You take the biggest hit on depreciation within the first year.
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#6
Quote from Jedi5 View Post :
But what if you sell your vehicle and don't buy anything?
they will offer you a trade-in, which is probably going to be like 70% of what you bought it for - not anything worthwhile, maybe just an extra 1k on top of the regular trade-in that any dealer will give you
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#7
Did they send you a letter saying that?

I get them too, they're nothing more than copy-and-paste letters send out by some third-party marketing firm. The dealer gives them your car and address and they send you an official looking letter. Their goal is to get you to come in and hopefully trade into something new.

Its nothing more than some half-ass genius marketing, dont fall for it.
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#8
Quote from johnfoe View Post :
pretty much just a sales method, not really much more to it other than they want to push out new cars before end of month
Iagree
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#9
Yep, I just got one the other day for a car we purchased about 4 months ago, and my husband and I both still get them every once in a while for cars purchased 4+ years ago (which we don't even own anymore)
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#10
Quote from MISHNAH View Post :
Did they send you a letter saying that?

I get them too, they're nothing more than copy-and-paste letters send out by some third-party marketing firm. The dealer gives them your car and address and they send you an official looking letter. Their goal is to get you to come in and hopefully trade into something new.

Its nothing more than some half-ass genius marketing, dont fall for it.

No, I have the actual salesman who sold me the car calling and emailing me.
They have an idea on the very low mileage on my SUV which is pretty much what he said and why they want to buy it back. I've had my SUV for about 9-10 months now and about 4,500 miles on it.

Yeah, I had never heard of that buy back before so it caught me off guard.
Then I started to google and it is more common than I thought.

Thanks again.
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#11
I know some dealers will contact owners like u when they have a buyer that will pay a premium for certain vehicle. Why not say u know the car specs and this is how many miles i have what is ur offer?
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#12
Quote from Jedi5 View Post :
No, I have the actual salesman who sold me the car calling and emailing me.
They have an idea on the very low mileage on my SUV which is pretty much what he said and why they want to buy it back. I've had my SUV for about 9-10 months now and about 4,500 miles on it.

Yeah, I had never heard of that buy back before so it caught me off guard.
Then I started to google and it is more common than I thought.

Thanks again.
Due to the Cash for Clunkers program taking hundreds of thousands of used cars off the road, used car prices have soared. Its causing many used cars to cost more than new ones after the usual new car discounts and rebates are figured in. They might actually be able to sell your car for more than you paid for it, and you could get a new car without losing any money depending on how much you have to pay for TT&L.

Its kinda like how slightly used Priuses and other popular cars cost as much as, if not more, than the brand new models due to lack of supply. There are lots of fools out there willing to pay anything to have a certain car haha!
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#13
Quote from MISHNAH View Post :
They might actually be able to sell your car for more than you paid for it
I did an appraisal on Edmunds just to get a ballpark figure of what my SUV is worth.
I was surprised just how much a dealer would sell it for.
They could almost sell my SUV pretty much for what I paid for it BRAND NEW.

I didn't really entertain the idea of selling back my SUV.
I had just never heard of this before.
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#14
Yeah, used cars are currently going for 20-30% more than they should be. Cash for Clunkers took over 600,000 used cars off the road at the same time more people are buying used and holding their cars longer, jacked up prices like hell and it really shafts poor people who dont have a lot of money to spend.

BTW back in Nov 2008, we bought a 2006 Mercedes E350, with low miles and in perfect condition, for $23k. The dealer we bought it from was selling them at this price left and right, awesome time to buy! 3 years later, that same year car is going for mid to high 20's! I wish I would have invested in used cars a few years back haha!
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#15
Wished my mother in law would do the same thing.
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