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What is the National Repurchase Program

Discussion in 'Gen 4 Prius Main Forum' started by oz10k, Feb 3, 2018.

  1. oz10k

    oz10k New Member

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    I'm shopping for a used Prius. On a Toyota site that searches for information based on VIN, as factory installed equipment I'm seeing:

    H4 National Repurchase Program
    H8 Fleet Credit

    What is the National Repurchase Program? I've done some googling, but I don't quite understand what I'm finding.

    Thanks,
    Ron
     
    #1 oz10k, Feb 3, 2018
  2. Prodigyplace

    Prodigyplace 2025 Camry XLE FWD

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    #2 Prodigyplace, Feb 3, 2018
  3. Elektroingenieur

    Elektroingenieur Senior Member

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    It means the vehicle was sold to a car rental company with the understanding that Toyota would buy it back later. Auto Rental News explains:

    Offered by auto manufacturers to car rental companies, repurchase programs are agreements by the manufacturers to buy back vehicles from the car rental company (RAC) for a set monthly depreciated value — provided the vehicle is returned in the specified time period and in the contracted condition.​

    This is a normal part of the fleet and rental-car business, and it doesn’t imply anything is wrong with the vehicle. It’s not a lemon law or warranty buyback, or anything like that.
     
    #3 Elektroingenieur, Feb 3, 2018
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  4. oz10k

    oz10k New Member

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    Got it. Thank you very much!
     
    #4 oz10k, Feb 3, 2018
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  5. bisco

    bisco cookie crumbler

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    what does toyota do with them?(n)
     
    #5 bisco, Feb 3, 2018
  6. RRxing

    RRxing Senior Member

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    Sell them to unsuspecting rubes by not disclosing that they were once rental cars? :rolleyes:
     
    #6 RRxing, Feb 3, 2018
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  7. Since2002

    Since2002 Senior Lurker

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    Yikes, is that what is meant by certified pre-owned? :eek:
     
    #7 Since2002, Feb 3, 2018
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  8. Elektroingenieur

    Elektroingenieur Senior Member

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    No; “certified pre-owned” implies nothing about the source.

    For example, any used Toyota or Scion can be a Toyota Certified Used Vehicle, if the selling dealer chooses to incur the cost, as long as the vehicle was originally sold by Toyota Motor Sales, U.S.A., and it meets the age, mileage, condition, and other program requirements.
     
    #8 Elektroingenieur, Feb 3, 2018
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  9. bisco

    bisco cookie crumbler

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    maybe they go to auction.
     
    #9 bisco, Feb 3, 2018
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  10. oz10k

    oz10k New Member

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    FYI. I'm looking at several that were bought by dealerships at auction. Some are being sold as certified pre-owned others are not. Mileage for 2017s is all over the place, from as little as 4,100 to over 35,000!
     
    #10 oz10k, Feb 4, 2018
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  11. Since2002

    Since2002 Senior Lurker

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    I guess I should have been more wordy, I meant that it never occurred to me that certified pre-owned includes rental cars, I assumed those got auctioned off somewhere else. I figured certified pre-owned meant trade-ins by the original owner (okay to be wordy I understand the rental car company would be the original owner, I am referring to private owners.) I have never bought a certified pre-owned car so I guess I just have had fanciful ideas about it based on the advertising
     
    #11 Since2002, Feb 4, 2018
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