vetdude

Wife and I were looking at a used 2006 convertible with 26k miles on it at a local dealership. Overall condition very good except for some nagging small items, like each of the polished wheels has gouges on the spokes and the inner barrels are beyond filthy with brand new tires mounted. After investigating the car's history through Carfax, we found the car was a lease and had been respossessed just before being purchased at auction by the local dealership selling it. Just trying to get an idea if any of my Corvette brothers would even entertain buying this car or walk away? Any input would be appreciated.

Thanks,
~Bob

Vette Nut

you would have to buy it right . If its loaded i'd say no more than 28-29k. Its not as bad as a car that was in a accident but it does have a little history.

jnx911

2manyvetts

In this day and age there have been alot of repos. Some good,some bad.

Tell them to put it on a rack and look at its undercarriage.

Run a GM history or have the dealer provide one for you.

vetdude

Price: $33,800

All options including Z51, but no NAV.

gilly6993

I don't think it being a repo matters at all....

CanadianVetster

wouldn't bother me a bit.......

M1Cruiser

If someone can't afford the payments and the car, boat, house or whatever is repossessed, then they certainly don't have or don't spend the money on maintenance. With the miles on this one it might not be a big deal but at a minimum you need to look at the fluids. It might also pay to have a professional take a look at it just to be sure you're not missing something.

TXC6Z51

I wouldn't have a problem with the repo aspect, however I wouldn't pay 33k for it, 29-30k would be a little more reasonable.

oneinch

Hopefully the previous owner - who knew the car was going to be reposed - didn't go bizerk in it tearing something up or putting undo wear and tear on the car. Assuming not, you gotta believe the car didn't go for much at auction. Just because the dealer may have gotten the car on the cheap, doesn't mean the savings need to be passed on to you. But combining that with the possibility the car was mistreated in its final days may warrant a less than normal price. The dealer probably has lots of room to negotiate. If you take his offer or he takes your first offer, betcha you could have bought for much less.

I wouldn't walk away just because of the repo. Situations like this are opportunities. Look it over carefully and see how it can be made to your advantage.

MDPD23

I bought an '08 Coupe from a dealer that had a repossed and got it at auction. I did buy the car sight unseen (2500 miles away) because of the deal and the options it had on it.
I also bought an extended warranty just to ease my mine. Car was shipped and I when I got it it had several blemishes that I was OK with. BUT, I found out soon enough the clutch was bad and I had to replace it at my cost. (Warranty did not cover it!) My only suggestion is to make sure you have it inspected or some kind of guarantee from the dealer.

0corvettegreg1996

The "repo" stigma is not what it used to be. If this is a GM dealer, thell them you want the summary page of the GMVIS report. This will show any warranty claims on the car. Most of us can tell if a Corvette has been driven hard. That is the most important thing. If it has a clean carfax and not abused and it's what you are looking for (color, options, etc), go for it! Spring is here and the prices will get worse through the 4th of July. Just my 2 cents.

badass1g

way overpriced. 28k VERY highest. you can get that deal any day of the week and without blemishes and a branded title.

vetdude

Thanks guys. I thougfht the car was a bit over-priced as well. Dealer has had this car on his lot since June 2009 with a sale price of $42K+ back then. Other than the neglected/damaged rims, the car shows little interior/exterior wear, no body/paint work, top in used but good shape. The biggest problem we have is that the manager blantly lied to us when I asked him directly if it was a prior lease and he replied, "no, it just came off a Smart Lease."

vetdude

Until it's time for us to sell it.

jnx911

If he lied to you about that, what else is he hiding? I would run from this one.

vetdude

Sorry, I meant to say, "The biggest problem we have is that the manager blatantly lied to us when I asked him directly if it was an auction car, he replied, "no, it just came off a GM Smart Lease."

C6-LS2-MN6

Why would someone treat the car better than their own credit report!

SoCalVette33

GMAC SmartLeases can be reposessions also. GM dealers by their cars through SmartAuction. Most of the cars dealers get from any auction are reposessions if they are with 3 years of current model year.

thatreallyslowc5

wouldnt bother me