I Bought A Lemon BMW M5 F10 On Facebook Marketplace


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If you have been following us you already know we purchased this BMW M5 Competition not too long ago and may remember the headache we went through getting the title release from Alley Bank. What I didn’t tell you is this car I bought from Facebook Marketplace is also a lemon.

What does lemon mean? It is a vehicle that is titled as a buyback in which the manufacturer purchases the vehicle back from the owner.

Now just because a vehicle is a manufacturer buyback doesn't necessarily mean it's not fit to drive — but it's very important to do your diligence. Depending on whether the defect that made the car a lemon has been fully repaired, a buyback can offer significant value and suit your specific needs and budget but not without first following some guidelines.

Research the car's history
The first step in buying a car with a buyback title is to research the car's history. The buyback title means that the car was previously deemed a lemon by the manufacturer, and the previous owner was compensated for the vehicle. This doesn't necessarily mean the car is a bad one, but it's important to do your due diligence. In many cases, a buyback happens when a consumer complains enough about an issue after numerous service or repair trips to the dealership. Who’s to say that some of those cases aren’t due to buyer remorse and a way for someone to get out of a car even though there might not be a serious issue?
Check the vehicle history report and see if there were any recalls or defects reported. If there were any, find out if the issues have been resolved. If they haven't, it might be best to look for a different car.

Get a pre-purchase inspection
Before making any purchase, you should always get a pre-purchase inspection. This is especially important for a car with a buyback title. Take the car to a trusted mechanic and have them inspect it thoroughly. They should check for any issues with the engine, transmission, suspension, brakes, and tires. If the mechanic finds any issues, ask for an estimate on how much it would cost to fix them. You can use this information to negotiate the price down, or you can decide to walk away from the deal altogether.

Negotiate the price
If the car passes the pre-purchase inspection, it's time to negotiate the price. Keep in mind that a car with a buyback title will have a lower resale value than a car with a clean title.
Use the information from the vehicle history report and the pre-purchase inspection to negotiate the price down. If there were any issues found during the inspection, use the estimate for repairs as leverage to get the price lowered.

Consider the long-term costs
When considering buying a car with a buyback title, it's important to think about the long-term costs. These cars may have a higher risk of future problems, so you'll need to be prepared for any potential repairs.
Make sure to factor in the cost of maintenance and repairs when deciding if this is the right car for you. If you're comfortable with the potential costs, and the price is right, then go ahead and make the purchase.

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Disclaimer: ThicGarage assumes no liability for property damage or injury incurred as a result of any of the information contained in this video. Use this information at your own risk. This video and description contains affiliate links, which means that if you click on one of the product links, we will most likely make a small commission from the seller when you purchase from those links.

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