Buyback and Cash and Keep Settlement

[Airboss]

I am going thru the process right now. I owe money on my loan, so the buyback option I am getting right now sucks. (difference between the loan and the buypack is less than $5000) I asked about cash settlement to keep my truck and as told they would only give me two payments since I have a loan. Is that true? I have been without a truck for 3 months months and that is all I get for my troubles?

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[John Becker]

What happened to your truck? Why are they proposing a buyback?

 

[Airboss]

What happened to your truck? Why are they proposing a buyback?

Powertrain issues and low voltage. They have replaced some of the packs. Truck went home and two days later went back in for the same issue. Truck has been sitting now with a hold on the software.

 

[JRT]

I'd stop that process and make them fix it, get you a rental until fixed. Not great, but you are upside down so not much options.

 

[John Becker]

I am going thru the process right now. I owe money on my loan, so the buyback option I am getting right now sucks. (difference between the loan and the buypack is less than $5000) I asked about cash settlement to keep my truck and as told they would only give me two payments since I have a loan. Is that true? I have been without a truck for 3 months months and that is all I get for my troubles?

Isn't Ford required to refund your full purchase price under the buyback program? You might want to check your state's lemon laws.

 

[Airboss]

Isn't Ford required to refund your full purchase price under the buyback program? You might want to check your state's lemon laws.

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Im reaching out to a lawyer today about it.

 

[JRT]

Colorado law says full purchase, mince your use.

 

[flyct]

Colorado law says full purchase, minus your use.

Same here in Florida. They use 120,000 miles as basis. So on an $80,000 truck that would be about 66 cents/mile. A 20,000 mile truck would have $13,200 in usage fees.

BUT my personal experience with Ford RAV buyback team is that they will easily negotiate 1/2 of the usage fee if asked.

 

[VAF84]

I just did a write up on the Ohio Lemon Law thread if you want some more details. No need for a lawyer, I feel like you're getting lowballed if they just offered you two payments unless they are astronomical payments. Do you have an LER or SR? I wonder if that makes a difference, mine's an LER.

I started from a buy back negotiation and worked my way into other options. Maybe that made a difference, as they knew I really wanted them to take it back and at the time didn't even consider the option of keeping it.

 

[Dinozero]

I’m not understanding the problem here.
You can get rid of your lightning for less than $5000?

surely that’s 10x better than any trade in offer.

can you rebuy one after for cheaper ? You’ll probably save 5k that wayb

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