While looking through used car listings, you may stumble upon a vehicle with a manufacturer buyback title. While the phrase may prompt raised eyebrows, it doesn’t always indicate a bad deal, but it does warrant closer examination.
Manufacturer buyback titles are given to cars when an automaker buys the car back, often because of open recall issues, although buybacks for defective cars can also fall under “Lemon Law” provisions. These are known as Lemon Law buybacks, because the vehicle’s manufacturer has attempted many repairs of a serious defect without success. After retrieving the vehicle and making any necessary repairs or inspections, the car is put back on the market and sold, often at a reduced price. But the title is still burned and branded to warn potential subsequent buyers of its past.
A car with a manufacturer buyback title is not necessarily a lemon in the traditional sense. Some are bought back as goodwill or customer dissatisfaction, not related to mechanical issues. That said, the title says the car had a large enough problem to justify sending it back, and that’s something buyers should take note of.
Before buying a car with a manufacturer buyback title, make sure to check out the repair history, that the problem was fully addressed, and have a third-party inspection held on the car. Many of these cars come with extended warranties or other coverage, which can provide peace of mind — or even save your money in the long run — but only if you know what’s included.
A buyback vehicle, however, may be a savvy move for someone in the know. But it’s not a risk-free shortcut to savings. There’s a key to that and also an impact on you, a person whose college days are behind you, so you can decide with confidence and knowledge.
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