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Offer to buy my truck from the dealer--scam???

Discussion in '1st Gen. Tacomas (1995-2004)' started by Natedogg, Sep 17, 2010.

  1. Sep 17, 2010 at 8:25 AM
    #1
    Natedogg

    Natedogg [OP] Well-Known Member

    Joined:
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    MA
    Vehicle:
    2001 DC SR5
    I recently took my 01 DC to the dealer for them to diagnose some electrical problems, and I just got a letter in the mail that said something about how used car stocks are low, I have a high-demand vehicle, and they want to buy my truck. They said they used a Black Book to come up with a value of ~$11,000 for my truck (saying that Blue Book can't keep up with used car values). For reference, Blue Book lists my truck at $6,000 for private party sale (2001 DC SR5 in good condition and 225k miles). They then say they'll give me $3,000 more (~$14,000) total. They have all the info of the truck in the letter (VIN, year, etc), and a mechanic was all over the truck (they gave me price quotes for every little thing that was wrong with it so it would pass inspection [a side note, the local mechanic passed my truck the next day, no work whatsoever having been done]).

    I have to assume this is a total scam--anyone have any experience with this? I envision going into the dealer with the letter asking the SIMPLE question "is this quote accurate--will you really give me $14,000 for my truck?" and they give me a run-around answer, saying they would need to inspect the truck, work up some numbers, etc and waste three hours of my time. I imagine them saying "we'll give you $7,000 if you put it towards this $30,000 2011 Tacoma over here on the lot."

    Advice, input, comments?
     
  2. Sep 17, 2010 at 8:38 AM
    #2
    scottri

    scottri Well-Known Member

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    Scott
    Tigard Oregon
    Vehicle:
    '10 Sport DC TRD Sport PreRunner
    Cover King Seat Covers, WeatherTech Liners, PopNLock, storage bin locks, N-Fab Step bars, and G4 Elite Tonneau cover.
    Yeah, it's bullshit to get you to come in and buy a new one. They might give you an inflated price for your truck but they will make it back on the price of the new one or on the financing side. I get that shit all time for a truck I haven't owned in 4 years.
     
  3. Sep 17, 2010 at 8:40 AM
    #3
    Manlaan

    Manlaan Well-Known Member

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    Greg
    Riverton, Utah
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    See Signature
    I dont know if I'd go as far as to call it a scam, but more of a way to get you into a new vehicle. You are right that it is meant to be a trade in, not an outright buy. Also, with them giving you so much "extra" on your trade in, I believe they're hoping you'll be grateful and wont try to talk them down on the listed price quite as hard.
     
  4. Sep 17, 2010 at 1:17 PM
    #4
    vegetopia

    vegetopia newbie

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    Jamie
    Houston
    Vehicle:
    08 DCSB TRDOR 4x4 MANUAL
    2008 Toyota Tacoma 4x4 TRD Off Road SR5 Double Cab 6.0L 6MT
    do you want a new truck? If not then who cares? If so, then come up with a price and stick to your guns. It's not like you're under obligation to buy anything. If they offered you $14k trade in, don't settle for less and ask for dealer invoice on the new one. It's really not hard to get a good deal on a new vehicle these days. The internet has given you all the tools you need to get the deal you want.
     
  5. Sep 17, 2010 at 4:39 PM
    #5
    Natedogg

    Natedogg [OP] Well-Known Member

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    MA
    Vehicle:
    2001 DC SR5
    Yeah, I see that. But if I go there and they say "oh, we can't give you $14,000 for an 01 with 225k on it. We're thinking more like $7,000" I would NOT be happy they wasted my time--and at that point I'd call it crossing into 'scam' territory.

    I know I'm not, I was just putting out feelers to see if anyone had this experience and if the dealer was untruthful about how much they would actually give you on a trade in. If I go in there, spend three hours while they look at my truck and negotiate and research blah blah blah and say "we'll give you $7,000" it's a complete waste of my time. If they REALLY would give me $14,000 for a 10 year old truck with 225k on it, I think I have to think long and hard if I should take it and run. I'd love to keep it, but if I can save $8,000, it's something to think seriously about.
     
  6. Sep 17, 2010 at 4:41 PM
    #6
    005Tacoma

    005Tacoma Well-Known Member

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    Mike
    Macon Georgia
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    Toyota does have a buy back program.
     
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