bobmarker

I bought a dealer lemon-law buyback '06 M5. I bought it from a used car dealer and like an idiot, I just signed all the paperwork and didn't pay attention to anything but the price... I signed a buyback discloser like a moron, but didn't realize it. Oh well, what's done is done.

Now, I just found out about my plight while trying to trade it in on a new SUV at a regular dealership. Three different dealerships won't even take it in on trade as desperate as they are to sell a gas-guzzler now. Now I need some help to know what to do... Going back to the dealership that sold it isn't an option at this point.

Can you help me with my options? I've had the car for almost a year and have had ZERO problems. Now that I want to get rid of it, no one will take it. Are they really as bad as leprosy as the dealerships say? If bluebook is $65k now (no idea, but just to use a number), legitmately how much is a dealer buyback M5 worth? Perhaps giving a percentage of a clean title one s better.

Thanks in advance!

DrLev99

Are you surprised that a dealership wouldn't want to trade one gas guzzler for another, especially knowing that yours has forever been branded a lemon?

Even in "fair" condition, assuming 30K miles, kelley blue book is $47K for a trade-in...but "fair" category doesn't include lemons....that's a step below.

I think you just might have to find a private party buyer to whom you can prove you've been trouble free with the car for the past year, providing your maintenance paperwork, etc. As far as trading it in, I think it will be near impossible.....probably would get $35-$40K at most.

Give us some more details re: this car, like mileage, condition, facts about the lemon issue itself (if you know them), etc.

p.s. Don't forget to have your cat or dog spayed or neutered, Bob Marker.

MPower82

wooooowwwwww!!!!!

I feel for you on this one brother. Looks like you are in a big bind. I agree the DrLev, a private buyer is probably your best bet. You might want to pitch that, you do not think they will keep it long either. So they can buy it off of you at a steal, enjoy it and flip it back down when they get tired of it.

Do you still have a warranty on it? If so, the it's worry free for the private buyer, given that you can prove you have had no trouble.

P.S. NEXT TIME ASK FOR THE FREAKIN CARFAX BEFORE SIGNING ANYTHING AT A DEALERSHIP, AND AFTER THAT, DO EVEN MORE RESEARCH.

Good Luck.

bobmarker

It's a 2006 M5 with factory warranty still on it. It has about 31k miles, black on black.

I've had it for almost a year (maybe more??), and I have had NO PROBLEMS at all with it. From what I understand it was a bogus buyback deal from CA where the owner said it had electrical issues. He took it in 3 times for various electrical issues and since that qualifies under the lemon laws of CA, BMW had to buy it back. Not sure how true the dealer's story is, but that's what he told me... I've never had any issues with the SMG or ANYTHING, for that matter---INCLUDING the electrical.

I took it into the dealership for just a couple minor things when I had my oil changed at the dealership.... had the sunroof adjusted because there was some slight air noise coming in... they promptly adjusted that... I think that's it... oh, I also had them replace a bulb a the cigarette lighter since it was burned out, but that's the extent of my "problems" for the last year of ownership. I can't think of any other issues I've even had with it. It's been fantastic.

So.... Thanks for the replies. I hate even getting rid of it, but I'm moving to the mountains of Montana and really can only enjoy it for a few months out of the year. And with as little as I drive it ANYWAY even in 350 days of sunshine, I might end up only driving the car 2-3 times a year in Montana! haha! That's a disgrace to the M5, so I need to let 'er go.

Just a little hurdle, I guess... Didn't know I had to jump over it, but I will try the private market and see how that goes. It's really been a perfect car with virtually NO ISSUES, and I have the service records to back it up, so.... I'll let you know how it goes.

DrLev99

A dealer buy-back isn't exactly a "lemon" per se as far as the official title will reflect. Someone correct me if I am wrong. That is why they buy it back, to prevent it from forever being titled as a salvage or lemon.

Do you know how carfax lists your car?

bobmarker

Hi, thanks for your time. This is how it's listed:

California Motor Vehicle Dept.
New owner reported
MANUFACTURER BUYBACK
OR LEMON REPORTED

The unfortunate thing is they don't say whether it's a lemon or a buyback... TOTALLY different things! This car is anything but a lemon since this has been the most trouble-free car ever... Oh well, live and learn. Either way, it's been great and if it was AWD, I'd probably keep it till it died since it's been so good! But I need the AWD in Montana.

bobmarker

Just so you all know, I just sold it to a very lucky person! I lost $35k, but that's okay. Live and learn.

DrLev99

HOLY CRAP! Did you give it away or something?

mrfva

+1 Details please!

skylolow

Damn did you give it away??

I'd think even under the circumstances you could still get a solid 45K to 47K on it.