Advice on Lemon buyback

[originalgiraffe87]

I had originally posted this on reddit, but I think somebody on here would be able to help more.
Lemon/Buyback question

I’ve been looking at getting a 2020-2024 mustang gt (used) for a while now, and found what I thought was an amazing deal at a local dealership. 2022 Mustang GT Premium

I noticed that the carfax showed a buyback at ~9k miles and then resold. It now has 11k miles and I test drove it, no glaring issues.

The reason for buyback was apparently “no start” and “low oil pressure light coming on during acceleration”. The dealer gave me the ford repair report & it is said that they replaced the engine.

I guess my question is, am I being stupid for even considering buying this?


I understand that lemons are almost if not always a bad idea, but if they replaced the entire engine vs just slapping some bs fix, maybe it really is fine? Thanks in advance for any help. I can give the link to it if anyone needs

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[joe603]

If they offer a warranty, it could be worth it. Salvaged titles are similar in that you get the vehicle for much less...but no warranty. When I was shopping for a GT350, I found a few that had replacement engines and decided it wasn't worth the savings. I ended up buying a new loaded perf pack GT for 15k less than a used GT350 with 10k miles in 2021.

I'll also say that I used to own a 97 Firebird Formula that was salvaged...first guy bought it and crashed into a deer on the way home...slide down an embankment and totaled the car. It had 190 miles on it. That car lasted 8 years before I sold it and ran perfectly.

 

[Tucker80]

All depends on how good of a deal it is, and if you're planning on keeping it for the foreseeable future. After all the hesitance you're having is going to be present with all future buyers as well.

 

[originalgiraffe87]

If they offer a warranty, it could be worth it. Salvaged titles are similar in that you get the vehicle for much less...but no warranty. When I was shopping for a GT350, I found a few that had replacement engines and decided it wasn't worth the savings. I ended up buying a new loaded perf pack GT for 15k less than a used GT350 with 10k miles in 2021.

I'll also say that I used to own a 97 Firebird Formula that was salvaged...first guy bought it and crashed into a deer on the way home...slide down an embankment and totaled the car. It had 190 miles on it. That car lasted 8 years before I sold it and ran perfectly.

If they offer a warranty, it could be worth it. Salvaged titles are similar in that you get the vehicle for much less...but no warranty. When I was shopping for a GT350, I found a few that had replacement engines and decided it wasn't worth the savings. I ended up buying a new loaded perf pack GT for 15k less than a used GT350 with 10k miles in 2021.

I'll also say that I used to own a 97 Firebird Formula that was salvaged...first guy bought it and crashed into a deer on the way home...slide down an embankment and totaled the car. It had 190 miles on it. That car lasted 8 years before I sold it and ran perfectly.

They said something about a 12 month warranty. I don’t know. I can tell that i’m getting the full car salesman treatment and it’s just a tough decision to coin flip whether it’s an ok car or not. I feel like it’s overpriced for what it is, as well.
https://www.sneedford.com/used-Gower-2022-Ford-Mustang-GT+Premium-1FA6P8CF8N5147591

 

[originalgiraffe87]

All depends on how good of a deal it is, and if you're planning on keeping it for the foreseeable future. After all the hesitance you're having is going to be present with all future buyers as well.

I agree with the reselling thing. I don’t plan to resell so long as there’s no problems (lol). I posted a link to it, I have genuinely no idea what price it SHOULD be but it feels high now that I think about it more.

 

[joe603]

Unless you trade it in to a dealer, buyers will be hesitant to complete the purchase, especially with a replaced engine. Honestly, it's not that good of a discount for the work done. Get them down to 30k or walk.

Good looking car though!

 

[originalgiraffe87]

Unless you trade it in to a dealer, buyers will be hesitant to complete the purchase, especially with a replaced engine. Honestly, it's not that good of a discount for the work done. Get them down to 30k or walk.

Okay thank you for the help. I appreciate it. Would you recommend getting a ppi from someone outside of the dealership if they go that low?

 

[joe603]

I'd get the price down and get them to do an extended warranty.

 

[Tucker80]

I agree with the reselling thing. I don’t plan to resell so long as there’s no problems (lol). I posted a link to it, I have genuinely no idea what price it SHOULD be but it feels high now that I think about it more.

That's incredibly overpriced. I would walk and never look back. You can get a clean title for that price all day

 

[originalgiraffe87]

I'd get the price down and get them to do an extended warranty.

That's incredibly overpriced. I would walk and never look back. You can get a clean title for that price all day

Okay. I’m going to see what they’ll go to on price/warranty. But probably a no-go. Thank you for the help.

 

[IPOGT]

I had originally posted this on reddit, but I think somebody on here would be able to help more.
Lemon/Buyback question

I’ve been looking at getting a 2020-2024 mustang gt (used) for a while now, and found what I thought was an amazing deal at a local dealership. 2022 Mustang GT Premium

I noticed that the carfax showed a buyback at ~9k miles and then resold. It now has 11k miles and I test drove it, no glaring issues.

The reason for buyback was apparently “no start” and “low oil pressure light coming on during acceleration”. The dealer gave me the ford repair report & it is said that they replaced the engine.

I guess my question is, am I being stupid for even considering buying this?


I understand that lemons are almost if not always a bad idea, but if they replaced the entire engine vs just slapping some bs fix, maybe it really is fine? Thanks in advance for any help. I can give the link to it if anyone needs

What’s the warranty look like?

 

[Geodudes550]

That’s pretty overpriced I think, especially for a lemon. I checked autotrader and there’s 10 GT premiums within 100 miles of that Sneed Ford that have clean titles at the same price.

 

[originalgiraffe87]

What’s the warranty look like?

I’m trying to get documentation. But i believe it’s still bumper to bumper 36k/3yr (25k more or 19 months) and then minus the engine, the e engine should have a standalone 12k/12 month warranty.

 

[originalgiraffe87]

That’s pretty overpriced I think, especially for a lemon. I checked autotrader and there’s 10 GT premiums within 100 miles of that Sneed Ford that have clean titles at the same price.

I don’t understand how they can price it at this, I mean it’s slightly under what it would be if it was clean, but a lemon would drop it I think 10-20 or 30 percent?

 

[Torched10]

I don’t understand how they can price it at this, I mean it’s slightly under what it would be if it was clean, but a lemon would drop it I think 10-20 or 30 percent?

For that money I'd want a extend r d warranty included. A new engine will cost. you over 10k I'm with the others on pricing.ots at least 10k too high .and whyvare they not including the engine on the engine on they're carcwarranty.id thonk if you had engine issue and they replaced it all thecwatranteed items would be the same as new.weird

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