Toyota Frame Settlement Postcard

nice verbage

 

Thank you, it's a good word; per the Oxford dictionary (the only one that matters):

Accept something reluctantly but without protest.

Which I think pretty much sums up what Toyota has done. However the real issue to my mind is it's nice that they have (reluctantly) undertaken remedial action, but what have they done to eliminate the problem? At first, even before I owned one, I had read of the "frame rot" issues and thought "What do people expect, these are 8 to 15 year old vehicles that have lived those years in rust-bucket states.?"

However after getting a Tacoma and frequenting this site and seeing photos of the carnage, it has become quite obvious that Toyota has failed--for at least 15 years from 1995 through 2010 (and time will tell about the '11 to '17+ models)--to use an appropriate grade of steel in the construction of Tacoma frames; I believe that is the primary issue, with frame design and initial corrosion treatments (if any) being contributing but secondary issues.

Fifteen years is a long time, which when extended points to that perhaps (I said "perhaps", so give me a break on this) the "legendary Tacoma quality" is a myth--or the old expression "drive it 'til the wheels fall off" needs to be revised to "drive it until the frame rots out". I have done a bt of online research on this and cannot find any other makers having this magnitude of corrosion problems; maybe Toyota's "deep pockets" made it a target--IDK.

What remains to be seen is, as alluded to above, how the 2011 to 2015 2nd gen, and 2017+ 3rd gen frames hold up.

I believe that were Carnac the Magnificent still with us he would touch his head and say "I see more class action suits in the future."

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For "full disclosure" my '09 is a "Florida" truck so none of this is relevant to me personally.

 

https://youtu.be/ZZeiD2-Rbg4

 

lol

 

this is my last toyota

 

ya me 2

 

would Toyota come out and offer a cash settlement like before?

 

There is nothing in the BW v. Toyota settlement agreement that would require them to do so--but who knows. I would not be surprised to find if one did the math that it could be a less expensive option--especially if the price tag of replacing frames climbs too high.

I had seen an estimate somewhere that it would cost $15k per frame. I have no idea how accurate that was or if it represents the actual cost to Toyota, but lets assume for a moment it does; many of the trucks that will be eligible for new frames aren't worth $15k, and wouldn't be even with brand shiny new new frames. I'd wager many owners of these would jump at a chance to get $7500 or $10,000, or even $5000 to sign-off on the frame replacement...

 

i would do 10,000 not any less

 

I've been in rental for weeks now I've put almost 3000 miles on their new truck you'd think they would want to hurry lol

 

most likely be driving the truck for months , the dealership is getting paid $1,800 a month what a good deal for the dealership.( i think ) $60 a day the only mistake is they didn't put you in a Camry

 

For Toyota's 2016/2017 fiscal year, ended 3/31/2017, they had $19.688B in earnings before taxes. They paid $5.644B in taxes making their tax rate 29.7%.

So if this settlement does cost them the $3.4B as has been estimated, and because it a result of a settlement agreement costs, The costs can most likely be expensed in the fiscal year in which they are incurred. Let's assume the $3.4B is correct, and for the sake of argument that it is all spent in one fiscal year, and that that year fiscally resembles their FY 16/17:

If so the net cost to Toyota would be about 70.3% of the $3.4B = $2.39B--still a sizable number but with one billion less going out the door to taxes...

 

help me understand the main point of your info. thanks

 

Simply that when Toyota spends a dollar on this campaign, it's really only costing them 71¢...

 

That's what I was hoping for!! But oh well less wear and tear on my truck. Haha

 

Went to my local dealer to get a new rental. I got a rav4, had a camry before. Talked to the manager and he said the parts are ordered. Also that he has no clue when they will receive them. Has anybody else gotten a different response from a dealer?

 

i was told 6-8 months for parts

 

what is everyones vin#?

Mine is 5TELU42N56Z223340 Indigo Ink Quad Cab 6spd Manual TRD Sport

 

So I have a question for everyone. After purchasing my 05 Tacoma last Oct I put the VIN into Toyota's site only to find out that it had previously failed a frame inspection. The small dealer where I purchased the truck had said nothing about having the frame replaced so I gave the frame a close look. The frame had not been replaced. Either the small dealer or previous owner must have welded some 1/8"-1/4" plate to the frame to reinforce where holes were that caused it to fail the inspection. The repair was done well enough that I didn't even notice when inspecting the truck before buying it. But my question to everyone is, will having these pieces of plate welded to the frame to reinforce the bad spots make it so Toyota will deny me for frame replacement?