Toyota drivers suing in US for a full refund

I know from experience (nurse with developmentally disabled adults) that long term headbanging can lead to serious callous formation. Be sure to rotate your head banging sites so that you don't end up looking like a unicorn

 

If the price of gas goes up to $5 or $6 a gallon can Toyota sue the owners for Sudden Unintended Appreciation? If this drags, as it might, and gas does go up again does that nullify all the 'loss of resale value claims'? Gas hits $5 a gallon across the nation and suddenly Toyota says...'OK lets settle this right now, today...heh heh.'

If Toyota agrees to take back the undesired vehcles and sells them at a profit? Do the owners get paid from the profits therefrom?

'Yota could really put the onus on the attorney scum... 'OK, give us the names of the buyers who don't want their vehicles any longer. We'll settle it with them directly.' I'm sure that 12 or 14 people would come forward. That's it? 12 to 14 people??!!

 

That explains why I am getting denser over time.

Tom

 

Electric Me

Not only do I agree with you, but I have a theory for you to consider.

I have been around for 76 summers and I see a connection. Trial lawyers often say that it is easier to defend the guilty. They have some critical facts about the defendant to work around. When ALL of the Toyota investigations come up empty handed, the conspiracy theories flourish. It is simple and easy to condemn "deep pockets" Toyota, and didn't they apologize? That proves they are guilty, of course. The national mob psychology is loosed and it is even patriotic to slam Toyota.

History shows that the unexpected is what really changes life. Those who bet on the unexpected are the real winners. Think about that. I don't know what it will be, but it is likely that something will happen which will replace the panic about Toyota in the news. Part of the reason for that will be that Toyotas are not crashing by the hundreds and the San Diego thing is not getting good press. While this COULD be devastating for Toyota, the chances are that it will not.

Let us hope so.

 

I am very dissatisfied with congress ... and have no confidence in the institution. Can we have a recall?

Or possibly the taxpayers get a "full refund" of all the pork (stimulous) money they have squandered.

On topic:
I for one ... would be willing to testify in Toyota's behalf. I could not be any happier with my G3, IV. Toyota, if you are reading this, send me a questionaire, and I will fill it out, have it notorized, and return it.

 

That will never happen. I'll bet on it.

What might happen IMO is that some very dissatisfied owners will be allowed to return their vehicles for full credit ... less usage of course. Then Toyota takes those vehicles and resells them possibly with a profit or maaybe with a loss. That's the auto business.

The reality right now in the auction markets is that Toyota's are still bringing stupid money in relation to what they can be sold for at retail resale.

 

Sorry, I'm not in the business. Over or under fair market price at auctions?

Thanks,
Bob Wilson

 

Given the number of lawyers in the USA, I somehow suspect that Toyota isn't the least bit surprised by this lawsuit and has been preparing for it for quite some time.

 

If it can be shown that the recall repair did not fix the recall problem, there is a very real risk that Toyota will have to open up its checkbook. Repurchase is a remedy that each state's lemon law provides to the consumer. The threshold for safety-related lemon law jurisdiction is generally 2 failed repair attempts. Once the threshold is met (e.g. 2 failed repair attempts), then repurchase becomes almost a certainty. The only limitation for Toyota is that the repurchase amount is offset for fair use, which is based on the odometer reading at the time the car was brought in for the first repair attempt. The repurchase calculation takes the odometer reading at the first failed repair attempt and divides it by 120,000. The result is then multiplied by the purchase price which includes taxes and license fees.

So, yes Toyota could be looking at a bit of a financial hit from the various recalls.

 

They won't win.

• Assuming the cars have not hurt them physically
• Depreciation is normal part of wear based on use and time. If they sell the car for less than what the fair market value (book value) they should get the difference from Toyota (that is fair).
• There should be a time limit as to how far into the future they can sell the car and get this deal (say 6 months)
• Those involved should really hurry up and sell. Get them into an SUV or other gas guzzler so gas can go up again and my stock portfolio can boom like the last time gas cost $5. p/gallon.

Maybe I'm an idiot and I'm wrong about the above, but today with nice warm temps in the 60's, I got 57.3mpg over a 112 mile all highway trip. Recall or no, you gotta love that.

 

We have one every 2 years and for the most part send the same fools back over and over. We have met the enemy and it is us.

 

+1, so sad to see this

 

The predominant sentiment is to throw all the bums out except the one that represents the district where you live.... I wonder why incumbency is generally the safest position to be in american electoral politics?

Quite true; but are 'we' willing to admit it? The truth shall set you free.

 

What makes you think that the owner must have been physically harmed to be able to collect under a state lemon law?

If an owner were physically harmed by the car, the damages go up - way up.

 

Under a lemon law, wouldn't the owner have to show that the vehicle still has the defect? I'd like to see them prove SUA exists.

 

Over.

Wholesale prices are a matter of supply and demand over the auction block. Our buyers are finding that the prices of wholesale vehicles are too high in relation to what they're willing to pay right now. There are too few Toyota's being sent to the auctions after trade-in. Buyers ( primarily Toyota stores themselves ) go to the auctions to buy 'x' number of Corollas, Camrys, RAVs, Highlanders and Prius'. But there are too many buyers fighting over too few vehicles. Thus the prices get bid up to the point where it doesn't make any sense to buy the vehicle.

 

Exactly, no one has been hurt by the SUA,

Lemon laws apply when there is a defect in workmanship. There is no defect, the car operates as intended. The loss in value occurs when you sell the car (what they call an unrealized loss)

In your method, I would be able to sue the government because my house went down in value because of the economic scare.

Just my opinion anyway.

 

That makes sense. I drive by a Hertz used car lot and they had a small inventory of Prius that recently disappeared. Folks will snap up a bargain if nothing else because the numbers still look good.

Bob Wilson

 

A recall is generally considered prima facie proof that a defect exists. Otherwise why have the recall? If there is a second recall for the same problem, the first recall is generally considered to be a failed repair attempt (even if something else is repaired/replaced). One more failed repair attempt (like an example of sudden acceleration after a recall repair was performed) and the consumer is in lemon law jurisdiction.

 

They should check out the supply on the west coast. The Volvo dealer I have done business with in the past has 3 Toyotas (1 RAV4, 1 Prius and 1 Camry) in their used inventory that have not had a single inquiry for over a month. As a result, they have stopped taking Toyota's in trade.