What does it mean when a car company wants to buy my car back?

Question

What do I have to gain and what do I have to loose in doing this transaction?

I recieved a call yesterday saying they want to buy my car back because someone else came to them wanting the car. The car is a 2005 Chevy Cavalier, and I just got it last year September so Im no where near finished paying for it. The car runs great and has great gas mileage. Im just kinda reluctant because I have heard of buy backs but didnt know all the conditions and if it would be in my best interest. I got the car used with a little less than 15,000 miles on it, and since i have had the car I have had to get new calipers on it but nothing more serious than that.

Answer 1

i also worked for a dealer,sometimes if a car comes in with alot of warranty work they will offer to buy it back. they loose money if they need to make alot of warranty repairs,which they don't want. have you had to have alot of things fixed under warranty or it it like
Austin said and a letter came in the mail. either way you will loose money but maybe you can talk them into another car for equal trade. dealers are funny they want your business,and let them know that you will continue with them if possible future deals if they work with you.
That is how we did it when THE wife got her new car.now when it is paid off we will go back and get me one(not the same thing she got i need a 4wd truck lol) we also got alot of extras due to that.

Answer 2

Well it all depends. Did you finish paying for the car? They may want to icon you into purchasing another car for more money.
If you actually do not owe any car payments and actually want a new car it may be a good thing.

But just thing "Why would a dealership want to buy back a car that they sold me."

1. As soon as you took the car off the lot, the value depreciated.
2. They will buy it back from you, for less money than they sold it to you for.
3. They can resell the car, for a much higher purchase price to a new buyer.

Answer 3

A lot of times (more times than not) A dealer will send you something in the mail saying your car is hot on the market right now, and they will give you top dollar for it. Its just a way to get you to come to the dealership so they can sell you on something newer.

Answer 4

the situation isn't in easy terms loss of sale yet loss of administration with the two the organization and the union. i could by no potential purchase a GM as quickly as they took billions and Obama is going to furnish the wealthy Wall highway executives billions extra and the organization remains submitting financial disaster!!!!! i'll purchase Ford or Toyota (the kind this is made contained in america of a). I certainly have placed the two my GM autos up on the industry and could sell them for what ever i can get out of them and pass purchase a pair Fords.

Answer 5

sometimes when someone constantly complains or has problems with their vehicles or other property, the company will offer to buy it back instead of spending time and money on those issues. Just make sure you don't lose money.

Answer 6

i agree with the austin d guy, when i worked at acura they were constantly trying to get people to trade in there rsx's and into a new car. since they aren't making them anymore, they can screw over the next person, and you with a new (usually bigger) car payment

Answer 7

because a car company like your car. Why not? its an opportunty that you can get an another car

Answer 8

Just a scheme to get you in the front door.

Answer 9

i think some thing fauty in car or due to safety regulatins

Answer 10

it either means they didn't mean to sell it in the first place or there's something seriously wrong with it and they don't want to get sued :)