For me in would depend on why the car was bought back. For example, I considered buying a California Lemon Law BMW in the past. I called a local dealer with the VIN and had them tell me about its repair history. For this car, it was bought back for an intermittent problem where the car would not turn over. The battery, ignition switch, starter, etc. were replaced without resolving the problem. Finally a loose ground wire was discoved which fixed the issue for good. By that time, the owner had enough with the car and was able to Lemon Law it to get rid of it. I didn't have any issue with the car at that point other than the fact the it was considered a Lemon and this would be in the car's Carfax history at the time I would sell it in the future. In the end, I didn't buy the car based upon selling price, not on its anticipated reliability or future value. All items must be considered however.
If you can't get a history on the vehicle as others have said, be very careful.