GM Volt Forum banner

1 - 20 of 25 Posts

·
Registered
Joined
·
56 Posts
Discussion Starter #1
Just bought a used Volt with 2300 miles on it from a local Chevy dealership for $22,000. Super happy with the price, but I was trying to figure out why someone would be crazy enough to trade in a Volt with so few miles. When I checked the Carfax, it looks like the car was repo’d a couple months ago. My only fear is that it was registered in Denver, but then repo’d in Jacksonville, Florida. I immediately was afraid that it might have been a victim of flood damage, but a internet search didn’t bring up any recent hurricane flooding in Jacksonville. Also the carfax is clean, it is CPO and is still under warranty. My question is should I be concerned with its history, and if I do find issues (which I haven’t in the 2 weeks I’ve had it) will my CPO warranty cover it? The dealership said it wasn’t in a flood and if it was, it would have come up as totaled. Thanks for any thoughts or insight.
 

·
Registered
Joined
·
294 Posts
Since you already purchased the car you're already committed no matter what the back story. Whether something is covered under CPO will depend on what that something is. Since you're already committed relax and enjoy your new car.
 

·
Registered
Joined
·
3,784 Posts
Just bought a used Volt with 2300 miles on it from a local Chevy dealership for $22,000.... My question is should I be concerned with its history, ...
Thanks for any thoughts or insight.
You now own it. Congrats! Great Price!
Be concerned if it makes you feel better....
 

·
Registered
Joined
·
561 Posts
There are some other threads with some good insight on these situations.

When a new Volt is purchased, it instantly depreciated by $7500 due to the tax rebate that the original owner gets from the Federal government, so that lowers the cost of used Volts dramatically. When you add normal off-the-lot depreciation, $22K is a good but not surprising number.

Volt owners also need to watch out for this because we end up instantly underwater on car loans if we don't put at least that $7500K down at purchase. New Volt owners can get into a lot of trouble if they bank/spend that tax rebate off the bat and then go to sell or offload the car and find out that it's worth much less than the loan.
 

·
Registered
Joined
·
117 Posts
In Jan, 2016, bought, from a Nissan dealer a 2015 Leaf, 6800 miles, for $14.5k...stickered at $32k. It just wasn't the right car for the previous owners. I assume they lost a LOT of money.

Now, 21k miles, 2.5 years later, it has been TOTALLY maintenance free ($.02/mile)..well, except for cabin filter and wiper blades. Still getting 80 miles per charge. LOVE the simplicity...golf cart with doors/heat/AC!!!!

Awareness is good. Worry is not. Enjoy your new car!
 

·
Registered
Joined
·
3,440 Posts
I'm not sure exactly how the warranty works on a CPO, but you probably still have coverage under either the original warranties, including the 3/36 bumper-to-bumper warranty, or something similar as a CPO. If so, that is a good safety net. If any problems crop up, they will be handled without expense to you.
 

·
Registered
Joined
·
294 Posts
I'm not sure exactly how the warranty works on a CPO, but you probably still have coverage under either the original warranties, including the 3/36 bumper-to-bumper warranty, or something similar as a CPO. If so, that is a good safety net. If any problems crop up, they will be handled without expense to you.
Warranties, factory,, CPO, or other will not cover issues caused by flood damage.
 

·
Registered
Joined
·
2,488 Posts
In some states, like Oregon, if you can qualify for the Fed Tax Credit currently at $7,500, and a $2,500 Oregon issued rebate,$10,000 total, on a new 2018-19 Volt it may not be financially wise to purchase a used Volt. Especially with dealers offering a 2018 Volt for well under $30,000, some under $29,000, which would place a brand new Volt LT for well under $20,000 with the tax credit and rebate.

Some may believe they don't qualify for the Fed tax credit when they do. Retired individuals can withdraw funds from their retirement account and apply the Fed Tax Credit towards that as well.
 

·
Registered
Joined
·
117 Posts
In my experience, it's virtually impossible to eliminate all signs of flood damage. You can see telltale signs throughout the chassis, trunk wheel well. Etc.

That said, I don't believe Chevrolet/GM would CPO a car that was in a flood. The car was repo'd? Maybe someone falling on hard times, trying to escape financial issues, moving from state to state.

As for new purchase vs. used, now is not the time to discuss pros and cons. He's had the car for 2 weeks, doubtful he has any "buyer's remorse" clause in any state.
 

·
Registered
Joined
·
2,617 Posts
Read your warranty papers that came with the CPO to understand what you've got. If there was no disclosure from a reputable Chevy dealer about flood damage, for instance, then nothing that might go wrong can be attributed to that cause and thus excluded from the warranty.
 

·
Registered
Joined
·
3,440 Posts
Warranties, factory,, CPO, or other will not cover issues caused by flood damage.
If Chevy sold him the car representing that it wasn't flood damaged, they can't deny warranty claims due to past flood damage. Or if they do, then they would be admitting they fraudulently sold him the car and would owe a reparation for that.
 

·
Registered
Joined
·
20 Posts
not sure I follow the logic here-- a car purchase with an existing concern, but the purchase happened anyway? That seems a bit silly. I don't recommend dwelling on the concern now-- what good will it do?

Truth is, no one knows how a used car will behave. Maybe great. Maybe terrible. It is all a factor of treatment and ability that is not recorded regardless of service history nor other owner's experience.

All cars are expensive, budget accordingly.
 
1 - 20 of 25 Posts
Top