Toyota Class Action Lawsuit

When using the stockmarket, you are using a poor choice...Any stock caught tampering, faces a class action lawsuit...Also you fail to point out that the stock market is off by over 15% since the avalanche of bad reports. Should we have to wait for a long period of time to sell our cars to when and if Toyota recovers its image ? and that's a big IF ..The bad reports, here , were known by Toyota, way before the recalls were made . It is, as to why, many of us, continued to overpay for the product and is as to why the product is sold at the cheap today because the rabbit is out of the hat now. Toyota and not the owner is solely responsible for the price discrepancy..1- For running the sale(If its not broke ! Why run a fire sale ?) 2 - With recalls - Proving the quality is not(This is known everywhere except the majority of the Jim Jones' followers in this forum)what it was and why we overpaid for buying Toyota over another automaker, the reason was Toyota held great resale value over already known flawed automakers...Hopefully Nasa can get to the truth on the hundreds of stories in the last 5 years on sudden acceleration.

As mentioned, hopefully Toyota can recover its image in time when I choose to resell my car . Those of you, who choose to drive their car till it dies...its your purgative. Hopefully you squirm every time someone pays $3k-$5k less today then when you bought it. I for one don't intend to give someone a $3k discount for Toyota's incompetence.

 

If you're gonna use ALG, hopefully you can put it to the page to before and after the term of when a battery of the Prius goes...Hopefully they did their proper homework and didn't hold the same rating if one needs a battery...I would venture to say that your Prius would not hold a 5 star rating, if you sold your car at 7 years.

 

What term? As you should know, the battery is guaranteed for 8 years or 100,000 miles. And Prius taxis have had batteries last 300,000 miles plus.

Stockholder and homeowner lawsuits are easier to prove because depreciation is not assumed. With a car, depreciation is assumed. The lawyers will have to prove that the depreciation was significantly greater than it expected, and that Toyota made claims that it new its vehicles were defective regarding SUA, and purposely misled buyers. Of course, they will first have to prove that SUA was something within Toyota's control.

But we already know that you want $10k back from Toyota. Good luck with that. Actually, I hope you lose.

 

I'll settle for $5 k :>) ! , or the difference of what I can buy the car for today, that sounds about right !

 

Would you pay the same price for a Prius if the battery warranty is about to expire ? As I opposed to being 3 or 4 years away ?. The extra price of replacing the battery is a totally different variable here, then any other car's devaluation year by year . I would venture to say , that if someone puts a new battery in their car at 8 years, they can get a hugely better price at resell value.My point was , the Prius can't get a 5 star rating on resell value in late years ...because the battery replacement expense can represent 25% of the value of the car.

 

Of course the ALG ratings aren't likely to be an issue since leases don't usually last that long. At the same time, at 100,000 or 8 years I would expect to worry about the transmission in an ICE only vehicle which would be about the same price.

 

Holy Sh**. I hope that you didn't just post the following...

Based on this statement alone I have to question whether you even own a Prius. Based on this statement I'm going to make a SWAG that you're here from another fanboi site in order to stir up trouble based on FUD that was put to rest years and years ago. The only problem is that you weren't aware of this.

You sir have lost all credibility.

There is no age limit to the ALG depreciation table. ALL Prius' get the 5 star rating for lowest depreciation for the leasing periods. Now that we know what and who you are replies can be directed to you properly. Troll comes to mind.

But in the case that you might simply be a buyer that bought without knowing the facts here is what you can expect on the battery life of the Prius....

...you'll never need to replace the battery until you get well beyond 300,000 miles, maybe 600,000 miles. That's not a joke or an exageration. But even if mine did crap out at say 210,000 miles I'd be on eBay or at the local collision center to buy a battery pack for $400 - $800.

Your statement however leads me to believe that you're currently a GM driver or VW owner who knows little or nothing about the Prius. Your statement about buying one for $35000 when the MSRP was $33000 tipped me off back a couple of pages ago.

 

Thanks for the info.

As a lot of us have noted, I don't care if my Prius is worthless when I'm done with it. I'm saving almost $250 a month in gas versus my S10 pickup. Even if gas prices go up or my driving drops, I think I will feel pretty good about my decision to buy it in another 6 years (8 times twelve times 250= $24000).

Don't know if we have a troll or not. My ignore list is expanding again.

 

Here is another article on that.

Class-action suits mount as lawyers call out to Toyota owners - MSN Money

apparently they are going to make it easy on people and have it in a "cookie cutter" form in that you fill it in and you can sue.

But I still am going to buy a Toyota, love my prius and still tell my family and friends to get them as well. Good old legal system at its peak...

 

Are you saying that new PII's can be had for under $18k out the door?

 

I guess it helps to have bought lots of computers and the like over the past 21 years. I'm used to the idea that what I buy today is going to be bought a month from now for less than I paid. And enjoying my purchase. If I had waited until computer power was going to stabilize and prices weren't going to go down for older models, I guess I wouldn't know about priuschat.

 

You got to lay off the Jim Jones Kool Aid Bro..It'll kill ya !...You are totally clueless ..check your prices on a fully loaded Prius back in 2009 for a 2010 with taxes in NY.

As to the battery.....Warranty lasts 8 years...If it dies(Not knowing if it does or doesn't in 8 years) ..you're on your own and pay for it big time .Good luck in finding one in a junkyard(Probably illegal for them to even hold one), ... Toyota buys them back because they are toxic at $200 a pc and will dispose it .

 

Look what I own...I paid for a IV, can u buy a IV at II price...you can't get 1/2 the stuff put in a II . Compare apples to apples, please. Should you post .I'm saying I can buy my car at below $30k today .

 

So let's see, a 2001 Prius battery replacement, $1,700:

The car has 250,000 miles and climbing. For $1,700, they have a Prius ready to go another 250,000 miles ... probably further. This battery uses the NHW20 modules, which are much stronger than the original NHW11 modules.

Then there is this more recent Prius:


Then we have this $1,000 transaxle replacement:

There are parts besides the battery that can fail in older Prius. We deal with it.

What it comes down to is not the value the Prius may have for the next owner as much as the value it has for the current owner. For example, our 2003 Prius costs and benefits for the past 5 years:

• ~$550/year - tags, taxes, insurance
• ~$831/year - fuel ($2.50/gal.,) tires, maintenance, and repair
• ~15,000 miles/year - $0.09/mile

This is the "burn" rate, the amount we've spent per mile over the past 5 years. Others will have a different number but this an important reason why we and many others have a Prius.

Bob Wilson

 

You're in trouble when you start comparing computers to a car that's suppose to be known to hold value.

Tell me, since Oct 2009 , what 2010 Hybrid can you buy, with better technolgy at the cheaper price of today(This can be said of computers 6 months later) ? ...This car was lowered to keep sales up due to their nonsense.If the world believed what you all are saying now, wouldn't Toyota be scratching their head and say, what they said before, "We aren't any the other auto companys in trouble, they need to lower their prices because they don't make a good product and no one wants to buy them, we don't lower prices on our best selling cars here ! "..This statement was used time and time again, at all Toyota dealerships I visited ....Karma !

 

Your point ? ..I said a new battery would cost alot , as I was forewarned. My point was if the battery was/wasn't replaced years from now ..You can assume that you will get 2 different resell rates on your car(beyond the normal wear and tear from years of driving). I know that you can buy whole 2001 cars at $1,700 .

 

Some of us don't really care about "hold value." We run our cars until the wheels fall off.

Uh, we bought our first Prius in October 2005 and the second in May 2009. We don't have a dog in that fight because our concern is the 'burn rate' of our current Prius and keeping them running until the wheels fall off. A hybrid is not a stock or mutual fund.

If you want an investment, don't buy a car.

Bob Wilson

 

While KBB can say what it wants about the cause of declining resale values, my experience has been it's usually more supply-and-demand. Gen IIs are suffering in resale value (although it's been noted not by comparison with other cars) because so many Gen IIIs have been sold replacing Gen IIs. In the mid-90s I sold my 7 year old, 100K mile Cherokee for a third of the original price. Then everyone started buying SUVs. Then gas prices went up. If I had sold my Blazer at 7 years of age (it still doesn't have 100K miles thanks to the Prius) in 2008, I'd have been lucky to get 15% of its original price. SUVs are a "dime a dozen." So are Priuses. Did anyone note how many Gen IIIs got recalled? I was amazed at how many 2010s have been sold in the Nearly Second Great Depression.

 

Double Holy Sh** Batman..

You are so out of touch with reality that you don't even know when you're digging your own grave when you post. Now I'm certain that you're a troll with no information about the Prius except what you read on GM and VW sites.

First in NY ( one of the CARB states ) your warranty is 10 yrs / 150,000 miles. That's the minimum. In fact Toyota has stated that the batteries should last the life of the vehicle. During that warranty period you get a new one for free if it craps out.

Second, you really need to do some research on NiMH batteries. Try this new feature on the internetz, it's called Google. You'll find that NiMH batteries are considered 'green technology' because...( ready ) ... they contain NO TOXIC MATERIALS. They can be stored in your garage forever without the EPA saying spit.

Third, you also have no clue what I was talking when I posted about buying one on eBay or a local Collision Center, not a junkyard. Yes Toyota does have a $200 bounty on them but you can outbid Toyota if you wish. Hello welcome to the real world son.

Now back to your fanboi site, Batman.

I noticed that you conveniently ignored the fact that you were absolutely wrong in your statement about the values of USED Prius always going down. In fact nothing that you've posted has been accurate. Every post of yours has been rife with FUD, misconceptions, partially accurate data and wrong conclusions.

Take a week or two and do some research....now that you've allegedly purchased a $35000 Prius...:roll:. You owe it to yourself.

 

I think that you also misunderstand what occurs each year as vehicle models age. The 2010's sold all through last year now are selling for less because the vehicle has been on the market for 11 months. It's old. It's a year old. The 2011's will arrive in the near future. These new models will be sold for full sticker generally so the 2010's should be sold at a discount now. That's the reality of the auto industry.

HIghlighted text.

YOu are grossly mistaken if you think that the Prius or any other mass marketed vehicle is supposed to hold it's value ( indefinitely ? ). All mass market vehicles lose value immediately and continually over time. Those of us with Prius' have the benefit of owning one of the ones that loses value slower than the rest of the vehicle on the market.

If you thought otherwise then you simply didn't do enough research or you misunderstood the auto market. Sorry for your lack of understanding. .