I need to trade in a car that is on the HUGE recall list!

[jean1968]

How in the heck do I trade in a car that Toyota is recalling???? I wanted to take a 2006 Toyota Avalon to a dealership this weekend to try to trade it in but it is on the recall that Toyota just announced today? What do I do????

[hurricanesfans27]

trade it like normal. this recall wont affect the resale value.

[jean1968]

trade it like normal. this recall wont affect the resale value.

 

I pray that is true...but if I were buying it, I would think twice because I wouldn't want to mess with taking it in to get the fixes. The Avalon has 3 different recalls so far and none are fixed yet.

[kb1gra]

the dealer will fix it before they put it up for sale.

[TrucknAlng]

Why would you care what they do with it after you trade it?

[jean1968]

Why would you care what they do with it after you trade it?

 

 

I don't think the OP cares about that. The OP is worried that his/her car value.

 

EXACTLY! I'm going to take my Toyota in to the Lexus dealership and they are going to give me $2000 less than they would have yesterday because it's been having so many problems. And when public opinion goes down so does the value. I bought the Toyota because it's known for being a quality car (OK and because it has push button start and lots of other buttons) with better resale value than most cars out there. I feel that it will no longer have that appeal. My car was almost $40K when it was brand new and now I'm only going to get $14K and it only has $36,000 miles. I've purchased a lot of cars and I understand that it's normal...but I also know that this recall did NOT help my resale/trade-in value!

 

I'm a Purchasing Manager and I've about about 200 cars/trucks (for business) over my 20 year career...I know a little something about car values.

Edited January 27, 2010 by jean1968

[hurricanesfans27]

Why would you care what they do with it after you trade it?

 

 

I don't think the OP cares about that. The OP is worried that his/her car value.

 

EXACTLY! I'm going to take my Toyota in to the Lexus dealership and they are going to give me $2000 less than they would have yesterday because it's been having so many problems. And when public opinion goes down so does the value. I bought the Toyota because it's known for being a quality car with better resale value than most cars out there. I feel that it will no longer have that appeal. My car was almost $40K when it was brand new and now I'm only going to get $14K and it only has $36,000 miles. I've purchased a lot of cars and I understand that it's normal...but I also know that this recall did NOT help my resale/trade-in value!

 

I'm a Purchasing Manager and I've about about 200 cars/trucks (for business) over my 20 year career...I know a little something about car values.

 

what youve done in 20 years Ive done in a week in the car biz. It isnt that big of a hit.

[MarvBear]

They'll just get the vehicle repaired. Toyoto pays for it.

 

It is true though that public opinion will have some impact on the perceived value of your automobile, and I'm sure that will be reflected at some point in the marketplace.

[builder2500]

There is not going to be any hit to the value of the car for a recall.

[MarvBear]

About one hour ago, one of my major credit unions suspended all underwriting for the following Toyoto products:

 

2009-2010 Rav4

2009-2010 Corolla

2007-2010 Camry (hybrid excluded)

2007-2010 Camry Solara

2009-2010 Matrix

2005-2010 Avalon

2010 Highlander

2007-2010 Tundra

2008-2010 Sequoia

 

*note* We will resume underwriting these vehicle when the issue becomes resolved to (credit union name)'s satisfaction.

 

So I'd say value has already suffered, the extent of which, has yet to be determined.

[Glacier]

The dealership I work for has temporarily halted taking any of the Toyota's on the recall list as trade ins.

[hurricanesfans27]

now with all that going on we will have a problem with values. the toyotas at the auctions are going to drop pretty big. probably in hyundai range.

[jean1968]

I hate to say it, but I could feel this coming as soon as I saw the news that night! It's makes me ill!

[builder2500]

This is a good excuse for dealers to beat the consumer over the head when trading.

[jean1968]

I guess this all adds up to...I need to sit on this car until all problems are solved and I've taken it in and made the repairs. AND I will probably take a karate chop to the neck when I'm negotiating the trade in value!

 

I hope Toyota can find a fix quickly and get all the cars in, in a timely manner, to make the corrections!

 

We are a Toyota family. My brother has a 2010 Tundra that cost him over $50K (recall), my mother had a Camry (recall), my sister has a Yaris (no recall), my father has a 2001 Tundra (no recall), my other brother has a Prius and a Tacoma (neither one recalled) and then, off course, I had the Avalon with a recall. We are all in trouble if their trade-in-value tanks!

[hurricanesfans27]

This is a good excuse for dealers to beat the consumer over the head when trading.

 

 

and you can bet they will. GM is already offering a 1000 rebate to any toyota dealer wanting to buy a new Chevy. Im sure the others will match

[CreditMcNugget]

This is really sad...Toyota has always been highly regarded in the marketplace, but like any other car, it's something you buy knowing that it will not hold value. I'm sorry this is happening to you OP and others that are affected. I do, however, think and important lesson was learned in that you cannot count on a car holding its value for trade in, selling, etc...even if it's a car that's typically highly regarded.

 

Before you know it, Toyota will be replaced by Hyundai as far as reliability and public opinion. I don't see them coming back from this...

[builder2500]

Are you kidding me? Lol. Once they get these cars fixed, it will not be a second thought for most intelligent consumers.

[nononsense]

Are you kidding me? Lol. Once they get these cars fixed, it will not be a second thought for most intelligent consumers.

 

Even if Toyota really fixes the issue right this time ( after a failed attempt before ). Most intelligent consumers will be waiting to hear if the fix is working or not.

 

I'd personally consider myself an intelligent consumer that checks everything and doesn't rush into a buying decision and I would wait for someone else to by a guinea pig. I'd consider to wait at least 6 month for the long term results to get in.

 

During this "waitinig" period, that is probably different for each individual, the demand and prices on Toyotas will be below what they've been before.

[texasnightowl]

Are you kidding me? Lol. Once they get these cars fixed, it will not be a second thought for most intelligent consumers.

 

I don't know about that. I am car shopping right now, and the RAV4 has been on my list. Is it still on my list? Well, yes...its a good combination of function and decent aesthetics...ie., it is not completely ugly. On the other hand, this particular issue is just a symptom of underlying faults at Toyota due to trying to become #1 in sales. Is it possible I will still end up in a RAV4? Yes. But not without at least second thoughts about what has happened.

[mk_378]

You might get a heck of a deal on a RAV4 right now, if you can pay cash. Sounds like companies are refusing to finance them.

 

Plus you'll have carte blanche to run into things and blame it on the accelerator bug.

[hurricanesfans27]

You might get a heck of a deal on a RAV4 right now, if you can pay cash. Sounds like companies are refusing to finance them.

 

Plus you'll have carte blanche to run into things and blame it on the accelerator bug.

 

 

 

right now you cant buy them.

[mk_378]

Can't buy new ones; but not used either?

[hurricanesfans27]

Can't buy new ones; but not used either?

 

 

 

dealers arent selling the used ones are the recall list either.

[texasnightowl]

You might get a heck of a deal on a RAV4 right now, if you can pay cash. Sounds like companies are refusing to finance them.

 

Plus you'll have carte blanche to run into things and blame it on the accelerator bug.

 

 

Yeah, not quite in a position to do that Pay cash that is.

 

Besides, I have some more shopping and test drives to do. I've gotten so far as deciding a compact SUV is the type of car I want (was originally considering sedans and hatchbacks too) but other than narrowing down to a list of about 8 models I still have shopping to do. No rush on my part.