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LA Times: Is Toyota's make-good offer fair?

Discussion in 'Prius, Hybrid, EV and Alt-Fuel News' started by bobr1, Feb 23, 2006.

  1. bobr1

    bobr1 New Member

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    An interesting article about an unusual problem with a 1st Gen. Prius, and a dispute with Toyota over replacement value. Unlike some negative articles about this Prius, this one takes care to point out that owners like the car and that this is an unusual circumstance:

    http://www.latimes.com/news/printedition/h...-news-highway_1

    Excerpts:

    When Samuel Silverman took his green 2001 Toyota Prius to a West Los Angeles dealership Aug. 23, he wasn't sure what had caused the master warning light for the hybrid system to turn on.

    While the hybrid car was at the dealership that night, a fire started in the rear compartment near the high-voltage battery and burned through the back seat. The next morning, mechanics discovered the damage, which his insurance company declared totaled.

    ...

    Silverman said he has comps from local used-car lots and private sellers that range from $15,000 to $17,000. The $11,500 that Toyota is offering would barely cover the $8,000 loan that exists on the vehicle, he said. A check on http://www.cars.com seems to confirm that 2001 Priuses are commanding healthy prices.
     
    #1 bobr1, Feb 23, 2006
  2. Widdletink

    Widdletink Member

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    Hi All,

    Well, there are alot of variables not addressed in the article like: What is the mileage on the vehicle in question? Was the car covered by the extended warranty? Does Toyota pay any attention to the fact that this is still one of the hardest cars to get your hands on and that the rules which apply for valuation of other cars don't seem to apply to the Prius?

    Judging by the lowball (for a Prius) offer, my guess is no they don't seem to be paying the kind of attention that they should to this issue.

    I am sure that now that there has been some media attention to Mr. Silverman's plight, all will be fairly settled by the parties in question.

    I think that what Toyota should offer to do is replace the vehicle with one of comparable vintage.

    I will be curious to see what happens. Keep us posted!

    Take care,

    Tisza
     
    #2 Widdletink, Feb 23, 2006
  3. galaxee

    galaxee mostly benevolent

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    i heard about this somewhere.

    i agree, that's a real lowball estimate and the value would be much higher, but it does depend on the pre-flames condition of the vehicle, the fact that it appeared to be in need of a major repair, etc. you can't base value of a car like that upon vehicles in "excellent" condition.

    but it's still lowball IMO.
     
    #3 galaxee, Feb 23, 2006
  4. cky3396

    cky3396 New Member

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    toyota dropped the ball on this, they should have got the guy a brand new prius. now instead of looking like heros, toyota looks like a bunch of cheep a holes.

    good thing the fire didnt spread any farther than it did... suppose he was in the car when it lit up... what if it was in his garage?
     
    #4 cky3396, Feb 23, 2006
  5. rposton

    rposton Member

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    I have a freind who has a 1st Gen Prius, who describes an unsual light pattern. Master Light, coupled with Maint Req. light. Before car reached end of it's warranty, her dealer claimed it just needed an oil change. Now the car has 130K on it, and the light pattern comes on just 1K miles after last oil change. So the dealer charged her for a new computer, knocking about $200 off of the price. Light came on again after a couple more days. Last I heard, they were thinking that it might be the Gas Tank, of all things. So they were replacing that. Now they are suggesting that she trade for a new Prius. The dealer is the big Toyota dealer in Murfreesboro, TN.
     
    #5 rposton, Feb 23, 2006
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