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#907 of 3623 Resale values of recalled vehicles drop amid worries
Feb 07, 2010 (11:10 am)
Inquiries have halted, says Corolla seller
Resale values of recalled vehicles drop amid worries
Many Toyota owners who are trying to sell their cars may have to drop their asking prices.
Resale values for Toyotas that have been recalled fell by as much as 3% this week, or about $450 on a car valued at $15,000, according to Kelley Blue Book. They could fall further next week if Toyota's quality issues stay in the news.
And they likely will.
Next week, Toyota is slated to testify before a congressional committee about the automaker's massive recalls. The federal government also continues to investigate brake issues in the 2010 Toyota Prius hybrid.
Meanwhile, owners of models that Toyota has told its dealers to stop selling, such as the popular Camry, are finding it tough to attract buyers.
Todd Oakley, 46, of Jackson, who is trying to sell a 2007 Camry, said he is waiting for the controversy to blow over.
"We'll still try to sell it," he said. "I'm sure it will take a little extra time."
Selling a recalled Toyota
Tony Schepis sees a challenging task in his future: selling a recalled Toyota.
"I think it's going to be impossible," said Schepis, who owns Schep's Garage in Lansing, where he often sells vehicles for his customers.
A few inquirers of the green 2009 Toyota Corolla stopped calling after Toyota stopped selling and making eight recalled models last week, including the Corolla.
"It's been absolutely quiet," said Schepis. "People have backed right off. I think they're waiting to see what's going to come of this."
#908 of 3623 Re: New Slogan: OH what a feeling you can't stop a Toyota! [explorerx4]
Feb 07, 2010 (11:19 am)
>>>i'm sure if the manufacturer had provided the answers to the questions you asked, they would have been happy to include it in the story.
I'm considerably less sure about that than you. Unfortunately, Toyota doesn't have the answers either. The media and public demand that they fix a problem that, so far, remains unidentified, or even accurately quantified. So, they're now going about fixing anything that looks even possibly defective, hoping they get lucky.
#909 of 3623 Re: New Slogan: OH what a feeling you can't stop a Toyota! [graphicguy]
Feb 07, 2010 (11:29 am)
>>I think something more tangible is needed here...perhaps substantially extending their warranties.
I doubt the gesture would accomplish much. People are easily frightened. Nothing short of an end to the reported incidents will likely calm the waters. Publicity alone, though, will generate more reports of problems, whether from jumpy people or real defects we won't know for a long time.
Yes, it is going to take more than an apology. But absent knowing the cause of the problem, they're in a tough bind.
#910 of 3623 Re: New Slogan: OH what a feeling you can't stop a Toyota! [lzc]
Feb 07, 2010 (12:14 pm)
If they'd not been blowing off customer reports of problems like mine, they'd have more to go on. They only started paying attention when they got bad press. On the other hand, if the Prius brake issue is typical, they may well suspect or know exactly where the problems are and just not want to admit it.
#911 of 3623 Re: Resale values of recalled vehicles drop amid worries [revit]
Feb 07, 2010 (12:30 pm)
The answer is so simple. Buggy code? Rewrite the code. Yep all of it. Not enough memory? When rewriting the code manufacture a new ECU with enough memory. What's the problem. So what if you have to do it for 10 million cars.
#912 of 3623 Re: Resale values of recalled vehicles drop amid worries [obyone]
Feb 07, 2010 (1:10 pm)
10 million cars, do you realize what that would cost Toyota? Billions and Billions. There is no way they will spend that kind of money. Whatever it costs you can bet it won't cost over a couple bucks per vehicle plus labor which could cost them hundreds of millions.
#913 of 3623 Ignore feature
Feb 07, 2010 (1:15 pm)
Is there an "ignore feature" on these forums so I can automatically ignore posts by certain members?
#914 of 3623 Re: Ignore feature [mikefm58]
by Stever@Edmunds HOST
Feb 07, 2010 (1:23 pm)
Just scroll on down.
#915 of 3623 Re: Ignore feature [mikefm58]
by kyfdx@Edmunds HOST
Feb 07, 2010 (1:37 pm)
Just scroll on down.
What? Did someone else post that, too?
#916 of 3623 Re: Ignore feature [kyfdx]
by Stever@Edmunds HOST
Feb 07, 2010 (1:40 pm)
Better recall that stuck post.