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Can Toyota know how much I paid for my truck?

Discussion in '1st Gen. Tacomas (1995-2004)' started by toy_yo_yo, May 19, 2010.

  1. May 19, 2010 at 10:21 PM
    #1
    toy_yo_yo

    toy_yo_yo [OP] Member

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    Is there anyway toyota can find out exactly how much I paid for my tacoma? I bought it from a private seller.

    I am wondering because my truck recently failed the frame inspection. The process is just getting started so I am still waiting to hear back from toyota. The service manager said that they could but it back for bluebook and a half, or they could give me what I paid for it since I am not the original owner.

    That is why I am wondering if there is a way they could find out what I paid for it. I could easyily say that I paid something ridiculous for it. How would they know if it was true or not? Like I said I bought it from a private seller so.....

    This whole thing has been nothing but a BIG headache![​IMG] The worst thing about it is that I am loosing my Tacoma! I absoulutley love it, it has been the best vehicle I have ever owned.

    So, Is there a way that they could find out exactly how much I paid for it?
     
  2. May 19, 2010 at 10:49 PM
    #2
    Drewboto

    Drewboto Well-Known Member

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    I've never actually purchased a vehicle. (been donated to me or I did work) I read somewhere the title has that info. But idk. I'm sure somebody else on here knows
     
  3. May 19, 2010 at 10:59 PM
    #3
    jdkeller

    jdkeller How many words can be fit in this s

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    The seller you bought it from writes war he sold it for on the pink slip attachment and sends it in to the DMV.
     
  4. May 19, 2010 at 11:01 PM
    #4
    NAYo2002

    NAYo2002 Well-Known Member

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    It's recorded for tax purposes. Unless you want to go down that road, fraud is a bad idea. Just take 1.5 x KBB value... it's quite a deal!
     
  5. May 19, 2010 at 11:02 PM
    #5
    BakoTruck

    BakoTruck Well-Known Member

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    I'm confused about your question; let me get this straight. You want to know how much you paid for your truck from a private seller? Or are you wanting to know how much the original owner paid for the vehicle?
    All of this information should of been given to you by the seller on a slip. Transferring ownership of truck.
     
  6. May 19, 2010 at 11:05 PM
    #6
    Digiratus

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    In the state of Washington, a title transfer requires the seller to document how much the vehicle was sold for because the buyer must pay a percentage sales tax on the purchase.

    That information becomes public record, so in theory it is possible to find out how much was paid.

    Far as I know, in a private transaction here, that is the only place it is documented.
     
  7. May 19, 2010 at 11:22 PM
    #7
    toy_yo_yo

    toy_yo_yo [OP] Member

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    Let me ask this.... Has anyone heard of toyota buying back your rotted tacoma for 150% over kbb, and then give you (the current owner) what you paid for it, and then send the rest of the money to the previous owner?

    Example:
    So, say you payed $5,000 for your tacoma and toyota will buy it back for $10,000. They give you the $5,000 that you spent on it, and send the other $5,000 to the previous owner.

    Has anyone heard of anything like this??
     
  8. May 19, 2010 at 11:31 PM
    #8
    Chad7088

    Chad7088 Old Newbie

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    I had a '99 that was in range of the frame recall. I had a "clean bill of health" from the dealer. However; what i understood of it all was I would get 1.5 times the blue book. I believe kbb on my truck was $8700 so I would have walked away with over $13000. It would have been a heck of a deal. Never heard of them paying you what you paid for it. Just take the 1.5 of kbb and put it down on a newer tacoma! :)
     
  9. May 19, 2010 at 11:35 PM
    #9
    BakoTruck

    BakoTruck Well-Known Member

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    Toyota would never do that, or at least I would think they wouldn't be that stupid.
    And if you're trying to tell them that your the original owner and give them the price of what the original owner paid for it; I'm sure that would be some kind of fraud.
     
  10. May 19, 2010 at 11:43 PM
    #10
    toy_yo_yo

    toy_yo_yo [OP] Member

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    I am not trying to do anything fraudulant. I just want to make sure that I am going to get the money so I can upgrade to a newer Taco since im 99% sure mine will be condemmed. :(

    Does it matter if I have only owned the truck for a couple months?
    Will I still get the 150% over kbb?
     
  11. May 19, 2010 at 11:55 PM
    #11
    BakoTruck

    BakoTruck Well-Known Member

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    Mostly stock for now, I have added a cb radio, various cheap mods and I plan on adding aftermarket wheels and other items in the future.
    Kinda sounds to me like you wanna try to make some money on this?
    I would assume that it would all have to do with how much you paid for the truck. kbb should be around that area.

    You can't just say you paid some crazy high price for it and get some extra money out of this, that would be stealing.
    They will more an likely ask for a copy of proof of ownership, which should show how much you paid for it. Or your banks loan information, which they would probably check anyways with the bank; if you got a loan.

    So are you trying to figure out a way to make some money on this or what?
     
  12. May 20, 2010 at 12:04 AM
    #12
    toy_yo_yo

    toy_yo_yo [OP] Member

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    I payed $6,000 for my tacoma. I bluebooks closer to $6,500. The deal is supposed to be that if your truck fails inspection, you get 150% over kbb. I am just concerned because like I said I have only owned the truck for a couple of months, so I want to know if I will still get the buyback deal.

    I do not have a lein on it. I bought it from a private seller and payed cash for it. It does not say anything anywhere on the title or registration what I payed for it.
     
  13. May 20, 2010 at 12:38 AM
    #13
    Leadgolem

    Leadgolem Well-Known Member

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    If they offer you 1.5x kbb I'd take it. It's more then what you paid anyway. I wouldn't try to give them some kind of ridiculous amount that you paid for it. When you registered it you where probably charged sales tax by the DMV. They would have recorded the purchase price when they collected the taxes from you. That's public info, so you'd get busted if you tried to inflate your purchase price.
     
  14. May 20, 2010 at 12:40 AM
    #14
    BakoTruck

    BakoTruck Well-Known Member

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    Mostly stock for now, I have added a cb radio, various cheap mods and I plan on adding aftermarket wheels and other items in the future.
    I'm sure you are fine for the short amount of time you have owned it, it shouldn't matter. You are the owner of the truck, the amount of time you have been the owner shouldn't matter with this. Or at least I think it shouldn't matter.

    If you only paid $6,000 for it and the kbb is worth $6,500, than you're golden.
    It won't be enough for any new Tacoma's to pay in full, but could be a good down payment. Or go towards the purchase price of another used Tacoma, or other vehicle.
     
  15. May 20, 2010 at 1:10 AM
    #15
    beanZnMyTaCo!

    beanZnMyTaCo! Well-Known Member

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    what does it matter if they find out how much you paid for it...?(unless you paid more than kbb, lol!)if kbb is $6500 and toyota is going to pay you out 150% of that, your getting Damn near $10k. i'd be good with that, you can always use that for an upgrade if you dont mind a monthly payment!
     
  16. May 20, 2010 at 6:22 AM
    #16
    NAYo2002

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    Does not matter length of ownership. As long as you are current owner you get 150% KBB price.
     
  17. May 20, 2010 at 6:27 AM
    #17
    81shark

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    from them to give you more than the 150%, you know damn well, they are going to want proof.
     
  18. May 20, 2010 at 9:10 AM
    #18
    Wreckless_71

    Wreckless_71 WRECKLESS for Life...

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    Second this... Bill of sale is required for the title transfer, and in most cases you write the bill of sale for a LOT cheaper than what you actually paid so as to avoid some taxes, so it probably wouldn't even benefit you in any way. Take the 1.5 over BB...
     
  19. May 20, 2010 at 9:42 AM
    #19
    toy_yo_yo

    toy_yo_yo [OP] Member

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    Thats what I am worried about. I paid the guy $6,000 cash for it, but on the title (thats where we put it in WI but when it comes backit doesnt have the price you paid for it anywhere on it.)

    I put that I paid $2,000 so I didnt have to pay so much sales tax. (that was an agreement between the seller and I.)

    Thats why I was wondering if Toyota could or would look at this and not give be the buyback deal because it shows that I only payed $2,000 for it.
     
  20. May 20, 2010 at 10:14 AM
    #20
    EnolaGaia

    EnolaGaia Well-Known Member

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    Simmer down; the dealer told you wrong. Purchase price has nothing to do with it ...

    Per Toyota's published policy documents, the buyback offer is to be based on 1.5 the KBB value as of the time the truck was found to be 'failed'. Period.

    The only parties for whom purchase price is an issue are *dealers* who wind up with a failed truck in their inventory. In this case, Toyota will reimburse them for their documented purchase price.
     
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