Resell Value and Recalls

Yes, it will impact those people who only know what they have heard or read recently in the media. I am sure the other auto manufacturers will take every opportunity (can you blame them?) to promote their products at Toyota's expense. I am sure Toyota will rebound. I do hope they will aggressively address the braking issues with the 2010 Prius.

 

For those who strongly believe in Toyota, why not vote with your money?
Buy Toyota ADR stocks. It dropped $5 today down to $72 from $90+ a few days ago.
Isn't this a great opportunity?

 

We have already received two flyers in the mail, one from a GM dealership and one from a Ford dealership, advising us to trade in our troubled Toyota vehicles and buy safe, reliable [GM/Ford] vehicles. Wow, there must be blood in the water....

 

Too late. The book value is plumeting as we speak:

Toyota Recall Impacting Price of Cars
Experts Say Recall Is Hurting Value Of Some Toyotas

DENVER -- As the uncertainty over Toyota drags on, auto pricing experts say the value of some vehicles will decline. Paul Barratt is the owner of a 2009 Toyota RAV-4. He was drawn to the vehicle for its safety record and price. "I have three kids and one of the considerations I made when purchasing was the safety, track record of the vehicles," said Barratt. But what was a good price in the past, may be quickly eroding, because of the Toyota troubles.

"The value of the effected Toyotas are dropping as of today," said Robyn Eckard of Kelley Blue Book. Kelley Blue Book is known for publishing lists with the values of various cars. "As of today, Kelley Blue Book has dropped the value of the effected Toyotas by about two to five hundred dollars," said Eckard. The experts say the drop could continue for the next 30 to 60 days. That decline could increase the value of your car, if it's not a recalled Toyota.

 

In fact GM is offering a $1,000 rebate for people trading in Toyota vehicles. It is sort of a "negative loyality" bonus.

 

Well when I buy a new Gen IV in 2015, I won't really worry about it!!!

 

Hopefully Toyota will get through this and offer some outstanding deals to get them back into the competition as a real player. Hopefully US dealers will stick by their own products and offer decent trade-ins for used Toyotas on new Toyotas. But I won't hold my breath - it has been my experience with US car lots (of all brands) that they will take every advantage of this drop in book price to offer less on trades so they can make more on used car sales.

 

I agree, the recall has definitely tapped in Toyota's fortunes in a very negative way. There is a fix, but it will take a long long time for millions of Toyota to be serviced. I know I am one of them. This afternoon, I am calling Toyota to schedule an appointment to check my brakes.

 

I wouldn't buy now. I expect it to keep falling. Support is probably at $60.

 

The dealers here are not buying toyotas, as for me I have no problem

 

I have a used car dealer friend of mine - he's been watching the prices of Toyota's plummet in the marketplace realtime.

He saw a 2006 Prius at auction go for $9k - normal value at auction should be around $11.5-$12K.

The real kicker - some auctions won't run if the Toyota model in question is under recall.

Honda's are tough to get a hold of - CRVs, Civics, Accords, etc. They're the new king of cars.

 

Here they are not buying any toyotas at all they are tough to get rid of because of the recall, they now are buying Hondas.

 

A $1-3K hit isn't that bad unless you really needed to sell it. Ride out this hysteria and we'll be good again in no time.

I dont think Hondas are the new "king." If anything, their image is hurt as well. I'd say German automakers are cream right now.

But who cares, the fact that we've temporarily taken a $1-3K hit in owner value, or the media has temporarily tainted Toyota's image does not stop the fact that we still have great cars and get the best mileage of anyone on the road. It doesn't make a single difference. I'll take that any day.

EDIT:
By the way, I have been scouring my local Toyota Certified Used Dealer website and there are no noticeable discounts on the Prius. THIS IS A GOOD THING. Nothing unusual compared to a few months ago when I bought mine. Prices are still holding as I would expect.

2009 Touring no leather 18K miles - $22,000
2009 base 38K miles - $17,000
2008 33K miles - $19,000
2007 base w/ leather 46K miles - $16,000

See, nothing to worry about. Although the bay area is pretty expensive.

 

Time to pick up a second Prius from some panic driven crap. BTW//didn't Ford have cars that caught on fire and rolled killing a bunch of people. Remember the Vega and the all aluminum engine!

Honda, Toyota, & Hyundai are still the best buys for price versus quality and safety. I do wish the best for the VOLT and all cars that try to get us off foreign oil and hope the VOLT is best car ever invented.

 

2010's any cheaper?

 

In the last two weeks the Toyota recalls have dropped the value of toyotas 10-20% at the auctions. The will probably recover to some degree depending on what happens in Washington later this month.

 

Not true at all. This may be the case if you look on ebay or craigslist. Individual sellers will always react strongly.

But you need to check Kelley Blue Book - there's no indication of a decline. My Touring still retails for $23,000. $1000 less than I paid for it. Case in point, Toyota's are holding their value relatively well amidst the hysteria.

You are obviously either a long time troll or long time angry Prius owner who changed their avatar and profile information in support of GM. Whatever you are, please don't spread false rumors to other readers.

 

you need to check auction prices thats the only way to tell

 

Auction prices hardly mean a thing unless you, specifically, engage in private auctions - again, they only represent the immediate reactions to the hysteria.

Right now, the best thing to do if you're selling your Prius is to go to the dealer. They price the car based on the KBB value, which has not decreased. That is the only number I go by.