The issue of sticking accelerators in Toyota cars and trucks is a nightmare for Toyota but a possible dream for savvy used car buyers. This is a great time to buy a used Toyota but as you would with any used car purchase, proceed cautiously before plunking down your hard earned money on used Toyotas.
Toyota has come up with a recall plan for its sticking accelerator problem. It should answer all of your questions on the technical side, but here is more advice for helping you sell or buy a used Toyota that may be part of the recall.
To recap, Toyota Motor Sales (TMS), U.S.A., Inc, is recalling approximately 2.3 million vehicles to correct sticking accelerator pedals on specific Toyota models:
- Certain 2009-2010 RAV4,
- Certain 2009-2010 Corolla,
- 2009-2010 Matrix,
- 2005-2010 Avalon,
- Certain 2007-2010 Camry,
- Certain 2010 Highlander,
- 2007-2010 Tundra,
- 2008-2010 Sequoia
Here is how you should handle the Toyota sticking accelerator recall to your advantage:
If I bought a Toyota recently, what should I do?Unless it is on the list above, do absolutely nothing. If it is on the list, your Toyota dealer will send you a certified letter telling you what to do. The gas pedal parts are being shipped directly to dealers, according to Toyota. However, be cautious about when you bring your recalled Toyota to the dealer.
How will I know if a used Toyota on the recall list has been repaired?
There are two ways this question can be answered. The first is to make the seller provide you with written proof the work has been done. Failing that, make the seller pay for a CarFax report. It should reflect that the car has undergone warranty work. A seller who can provide no proof may not have had the work done. Make the seller bring it to a Toyota dealer for the warranty work before paying for the car.
Will this recall affect resale values of used Toyotas going forward?
Absolutely - and this is where a savvy used car buyer can take advantage of the situation. In the near-term future, the price of used Toyotas is going to drop by private sellers. Dealers won't be as willing to compromise on price because they will have fixed the problems before putting the cars up for sale. Private sellers, though, will not be able to have the work done in the next month unless they really act fast - and then they probably have no reason to sell the vehicle. Take advantage of private sellers trying to unload these vehicles because they're going to be somewhat desperate. Consult Edmunds.com or KBB.com for up-to-date pricing information.
What should I do if I'm trying to sell a used Toyota?
If it's on the list above, your best bet is to hold off if you can. By May 2010, most used Toyotas under the recall should be fixed and back to almost full value. Frankly, you're still going to lose value on your used Toyota at this point if it is affected but the pain and suffering should be a little less come late Spring.
If you're used Toyota is not on the list, trumpet that fact in all of your advertising with this phrase: Not Subject To Recall. It's as simple as that. Photocopy a newspaper article or download information from automotive websites that shows your used Toyota is clean.
What can I do if the dealer wants to renegotiate the price on my used Toyota trade-in?
Hold the dealer to the price offered in writing. If the dealer won't budge, don't buy a car there. It's unscrupulous to change a deal in writing so it's a sure sign not to conduct business there.
