As some others have mentioned, does everyone think the future resale value of these vehicles will be significantly affected because of the recall? I for one, planned to keep this car for 3 years and then trade into something else hoping for that nice resale value that Toyotas have been legendary for. That's one of the reasons I bought the car. There were better choices out there, but I thought the future value outweighed everything. Now I'm not so sure. If we get hosed on a trade in, it makes the purchase pretty much a big mistake in my view. What does everyone think?
As some others have mentioned, does everyone think the future resale value of these vehicles will be significantly affected because of the recall? I for one, planned to keep this car for 3 years and then trade into something else hoping for that nice resale value that Toyotas have been legendary for. That's one of the reasons I bought the car. There were better choices out there, but I thought the future value outweighed everything. Now I'm not so sure. If we get hosed on a trade in, it makes the purchase pretty much a big mistake in my view. What does everyone think?
I think we are in deep doodoo. In fact at the moment, I would be surprised if a dealer would even take it in at any price, except for the bounty hunting GM dealers who would completely hose you anyway.
Addition: aside from the rental and leasing companies backing away Adesa has also backed off selling Toyotas (auction company)
Normally I would agree BUT that problem was identified quickly and fixed. Toyota still does not know what the real problems are IMHO...I am now thinking there may be a few issues..This mess could cost billions before it is over If they can even identify ALL the issues that may be involved
face it, this is not out of the ordinary. EVERY car has its recalls. It;s not toyota's problem soley. Today ford has recalled some of its vehicles that use the CTS petal. It is the manufacture's issue and soon I think all vehicles that use it will be making recalls. Toyota just took the first responsibility of doing it.
sit back and take a deep breath, the world isn't ending. Your Toyota will still hold value, insurance companies won't drop you and the sun will rise tomorrow. I guarantee it
Exactly, next year at this time people won't even remember it...provided Toyota doesn't have more problems in a row...that's a little harder to forget.
Say you sell it 5 years, this whole thing will be a non-issue.
__________________ '09 Corolla CE Enhanced Auto
TRD Springs/Sway/Xrs FSB by Yamaha
Lifetime : 6.121L/100km(38.714mpgUS)
Maximum: 5.082L/100km(46.287mpgUS)
(manually calculated) (original unflashed factory ECM code)
face it, this is not out of the ordinary. EVERY car has its recalls. It;s not toyota's problem soley. Today ford has recalled some of its vehicles that use the CTS petal. It is the manufacture's issue and soon I think all vehicles that use it will be making recalls. Toyota just took the first responsibility of doing it.
sit back and take a deep breath, the world isn't ending. Your Toyota will still hold value, insurance companies won't drop you and the sun will rise tomorrow. I guarantee it
This is no little recall for Toyota...even if the media blown this out of proportion, there's no way to know if the value factor will hold true. Unless you have a crystal ball, I don't think you want to ASSUME.
Anybody remember Audi a bunch of years back?? Same type problem. There still in business and even strong than before. Hang tight, after the fix, this will all be forgoten by most.
This is no little recall for Toyota...even if the media blown this out of proportion, there's no way to know if the value factor will hold true. Unless you have a crystal ball, I don't think you want to ASSUME.
well at least I leased then. Heck, if the value takes a hit, I will just buy it for dirt cheap then
Our resale will be fine, as it stands. So far this has received nowhere near the media attention of the Ford/Firestone debacle, and even then people remember that only vaguely.
If your someone that hops from one car to another every 2 years, you might be impacted. I really don't see anyone remembering this 5 years from now.
Our resale will be fine, as it stands. So far this has received nowhere near the media attention of the Ford/Firestone debacle, and even then people remember that only vaguely.
The Firestone incident didn't get the attention because the media and Internet wasn't so sleazy back then. Today, that's a different story unfortunately.
Either way, Toyota is definitely still a strong company, and should be able to bounce back. But the question of when they do is something we won't know yet, since we are still in the beginning stages of the fire. If they pledge to go back to building cars the way they use to, which is deliver competitive, high-quality products and implement the fixes efficiently with good customer satisfaction, then the further away they get away from this mess.
Normally I would agree BUT that problem was identified quickly and fixed. Toyota still does not know what the real problems are IMHO...I am now thinking there may be a few issues..This mess could cost billions before it is over If they can even identify ALL the issues that may be involved
It's kind of a complicated issue because of how it manifested itself. Toyota worked swiftly to address the floormat issue with the affected cars (and trucks), so they thought the issue was resolved. But then you had other incidents arise that did not involve the floormats. I always thought the presumed floormat issue was questionable at best, and like you, was not fully convinced that Toyota REALLY knew what the problem was. But now that they have done testing and have positively identified a specific pedal component as the culprit.
Regareding resale value, I wouldn't worry too much about it. This week or this month would not be the time to try to sell though, due to the alarmist mentality of the general public and the sensationalism of the media. The Corolla is strong enough to overcome these speedbumps in the long-run.
Anybody remember Audi a bunch of years back?? Same type problem. There still in business and even strong than before. Hang tight, after the fix, this will all be forgoten by most.
That's only due to the fact the discontinued the 5000 model, which did take a big hit in resale value. Audi had to work hard to gain back the consumer's trust
It's kind of a complicated issue because of how it manifested itself. Toyota worked swiftly to address the floormat issue with the affected cars (and trucks), so they thought the issue was resolved. But then you had other incidents arise that did not involve the floormats. I always thought the presumed floormat issue was questionable at best, and like you, was not fully convinced that Toyota REALLY knew what the problem was. But now that they have done testing and have positively identified a specific pedal component as the culprit.
Regareding resale value, I wouldn't worry too much about it. This week or this month would not be the time to try to sell though, due to the alarmist mentality of the general public and the sensationalism of the media. The Corolla is strong enough to overcome these speedbumps in the long-run.
I agree with you about the timing...never sell into hysteria!
Problem is time is against them and the more time that goes by, the worse it will get for them and us. Why they came with the "new" additions to the floormat recall is probably a play for time. I put a new link up in the recall section where they say they have no estimate when the pedal problem will be fixed. There is more to that then meets the eye IMHO.
Ahhh..they have learned too well from the American Corporations!
I think that some of Toyota's models may take a nice hit with regards to resale value, with the Camry and Corolla being the least affected. One of the ones that will probably be most affected is the Avalon. It was one of the first models where it's declining reliability had been reported. Now this, it's a model that is in trouble.
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