Toyota buy back hypothetical

I just remembered something.... confirmed on WA site, but couldn't find similar stuff on the Mass site. The mileage to be used in that calculation above shouldn't be the mileage on the vehicle NOW, but at the first attempt of repair (if it took multiple times to fix same issue) or on the 15th day out of service (if the lemon was based on total days out of service). Maybe you could work with that somehow?

 

Black Book high trade for 17 DCSB SPT 4x4 6AT 28Kmi in WA is $30-31K. Retail is $33-34K.
I would insist they at least meet market pricing.

 

Ok cool. I’m going to call my account rep to see their angle. I’m at work so I k my saw the email come through.

 

Call your fav CU and ask what loan, wholesale, trade, private party and retail prices are on your truck model/miles.

It will give you an idea of a range/targets.

I promise you if you sell it back it's not going to the crusher. At a minimum it's going to an auction house for a local or overseas sale.

 

It was back in 1992, so who knows what happens now, but my mom's 1990 Oldsmobile Cutlass Sierra was bought back here in WA. A few months later someone screwed up and sent some paperwork to our address... the car was sold to someone in Oregon... we felt pretty bad someone bought it. Had 3 engines in 18 months, and no one could figure out what was wrong with it.

 

Ha! We've seen similar with a couple cars that we traded in. They were either at the end of their lives or would have needed way too much mechanical TLC to keep going reliably. But then, I've seen one driving around years after and another still shows up on our state registration page.

The only one that I ever felt good about was the one I sold to our neighbor. It was great mechanically since it was just sitting around with no one driving it but was harsh on the cosmetic side.

 

Are you sure it isn’t (mileage/120,000) x purchase price? But it only works up to mileage = 120,000...

Based on my own experience with a Bronco II, that truck life estimate of 120,000 for the Ford is about right. They’d have to adjust it for a Toyota quite a bit higher.

 

Basic math rules regarding multiplication and division for a simple operation... doesn’t matter, same result either way

 

I always see decimal percentages when working with those types of problems... is the 120,000 mileage fixed across all trucks?

 

Take this redneck math for what you will...obviously this isn't a perfect guide to buying or selling anything and I always reference pricing guides...but this is how I calculate useful life of a vehicle which I consider to be 200,000 miles (mileage before most vehicles require major repairs).
Lets say a new Tacoma costs $36,000.

$36000 (new price) / 200,000 miles (useful life) = .18 per mile

.18 (cost per mile) x 28000 (mileage on vehicle) = $5040 (depreciation of useful life)

$36000 (new price) - $5040 = $30,960 (selling or buying range for this used vehicle)

 

So gentleman here’s what they sent me as I got the formula. It was mileage x purchase price divided by 100k. They did say I can take off the bed cover and side rails for private said

 

I don't know. You are probably not going to do better on your own dealing with corporate, but that seems like one helluva hit. $0.30/mi?

For me, I'd sign for about half that mileage hit. $4k may, or may not, be a big deal?

Edit: I'm just one idiot on the internetz with an opinion and an asshole.

 

I doubt he really has much ability to negotiate. Prolly gonna have to either take the offer, or just sell it himself.

 

I agree. He would have to bring in facts / figures or an expert / lawyer. That is why I suggested looking at the state office. They might have some solid info?

To me, $4k is a lot of $$. Wasting a lot of time and frustration to negotiate that down only $1k or $2k? You know that truck will be listed at more than $31k. Corporate will end up making money on this.

 

why are they buying back?,,,,,,what is the issue....

 

Definitely worth calling up the Attorney Generals office and asking. That's what they are there for. But i'm still betting Toyota is using the same calculation that is required in the OPs state. So they wouldn't be able to get anymore out of Toyota if that were the case.

 

quote from above:
"Toyota carporte is offering to buyback the truck due to the amount of issues it’s had and amount of time it’s beem in the shop."

 

More agreement here. Having that second opinion and knowing there is no likelihood of any further gain would put me to ease on the offer.

I'd still have to chug a lot of Tums to get over that $8k loss though.

 

They are using a set calculation per state. It’s being bought back because it’s been In the shop for a sleugh of reasons, the latest was the leaking third break light that I brought it in for a few times and they didn’t find the issue until I finally brought it in while raining and everything soaked. I just got the truck back after 6 week in the shop.

 

I guess I can get a little more if I rip off the mud guards, side steps and bed cover and floor mats lol... whatcha think I can get if sell all those