Toyota Truck Buyback

[RWEST]

Don't know if this has been posted before, so, please excuse if it has.

We've run Toyota pickups for a number of years, and within the last few years, a number have failed inspection because the frames are rusted through. Toyota is buying them back - at roughly what we paid for them!! We've had two so far, and a third isn't looking so good.

http://wheels.blogs.nytimes.com/2008/05/07/toyota-offers-to-buy-back-rusty-tacomas/

 

[Steve S]

The years with the problem seems to correlate with the drop in Toyotas quality.

 

[H2GURU]

Well... the problem on this model stems from parts sourced from DANA, who made junk frames from faulty steel and/or failed to treat them properly for NUMMI assembly. Products from Toyota, manufactured in Japan, do not seem to be having these problems??

 

[mikered30]

Guy I work with sold his truck back to Toyota for $10.5K with 124K miles on it plus $1,000 credit for any new Toyota. He also said it got 25 mpg. He bought it used for $7.5K. It failed inspection but it was welded with a cross piece to pass but Toyota bought it back any way.

 

[MrCritical]

So Toyota took Dana's word that their frames were up to spec, and didn't catch it for years?

Bull [censored].

 

[OVERKILL]

Originally Posted By: MrCritical
So Toyota took Dana's word that their frames were up to spec, and didn't catch it for years?

Bull [censored].


Sounds a bit like the sludge issue that Toyota was "so honourable" to look after.......


After a class-action lawsuit of course...........

 

[ekpolk]

Originally Posted By: from the cited article
Mr. Butto said he was not sure how much the program would cost, but it is “among the most aggressive programs we have put together in trying to take care of our customers.”

He said the automaker expected that a small number of vehicles will have such a serious rust problem that Toyota has to buy them back.

But if, say, 2 percent of those 813,000 Tacomas were bought back and the repurchase cost was only about $5,800 (for a basic 1995 two-wheel drive Tacoma with the 4-cylinder engine and 140,000 miles) that would amount to about $94 million.

“I don’t see how this is going to cost Toyota less than $100 million,” Mr. Ditlow said.

Someone please let me know when GM starts its buyback program for all the customers who got royally screwed after their 60-degree V-6 engines started sucking coolant into the crankcase and then ground themselves bits...

Oh wait, that's right, if it's after wty, as the intake leaks almost always are, that's the customer's problem.

So here's Toyota offering to buy back thirteen (13) year old vehicles, and they're getting hammered for it. Amazing... Please, someone tell me when it was that GM last offered to buy back thirteen year old vehicles with problems.

 

[Mucho_MPG]

Well said Elkpolk. Too many people here are way too quick to jump down Toyota's throat. They are stepping up to plate. Something Nissan did not/has not done with the notorious 2000-2007 Sentras that eat head gaskets for lunch.

 

[MrCritical]

I didn't say Toyota didn't do the right thing. Finally.

I said they didn't let someone supply bad frames for them for years without knowing about it.

So, would the right thing to do be not to sell trucks with frames you knew might fail? Or buy them back when they did?

You decide.

 

[Max_Wander]

They found out the hard way that the problem was not going to just go away, apparently. This is some of the best marketing $$ they can spend.

 

[Hermann]

I hope my frame rots 7-10 years from now and they give me $10k+ for it. Like manna from heaven. Sorry for the the biblical reference.

 

[Steve S]

Originally Posted By: H2GURU
Well... the problem on this model stems from parts sourced from DANA, who made junk frames from faulty steel and/or failed to treat them properly for NUMMI assembly. Products from Toyota, manufactured in Japan, do not seem to be having these problems??
Would have been a better choice to buy higher quality parts,cheaper too!I own a 96 and got the letter there is no rust as it has not been in snow or by the coast.

 

[Aldaris]

Originally Posted By: ekpolk

Someone please let me know when GM starts its buyback program for all the customers who got royally screwed after their 60-degree V-6 engines started sucking coolant into the crankcase and then ground themselves bits...

Oh wait, that's right, if it's after wty, as the intake leaks almost always are, that's the customer's problem.

So here's Toyota offering to buy back thirteen (13) year old vehicles, and they're getting hammered for it. Amazing... Please, someone tell me when it was that GM last offered to buy back thirteen year old vehicles with problems.

Thank you for taking the words out of my mouth and arranging them so eloquently.

 

[glennc]

Maybe it's just me but rust and Toyotas seem to go together. One of the real sore spots for Toyota's reputation all through the years IMO. Many manufacturers seem to have done a better job on this.

 

[brianl703]

Let's not lose sight of the fact that this is a buyback program ONLY when the rust damage is so extensive that the truck isn't economically repairable (ie, it would cost Toyota more to repair it than to buy it back).

Otherwise, the rust gets repaired.

(Ooops, I'm sorry--I made the assumption that others may have read the Toyota documents here:

http://www.autosafety.org/uploads/phpMgeIbQ_TacomaCustomerSupportProgram.pdf )

Quote:
Upon confirmation of perforation of the frame due to rust damage, Toyota will, at its option, either repair or repurchase the vehicle.


My suggestion for those who want the buyback instead of the repair is to try a DC current and salsa, which was confirmed by Mythbusters to work very well for corroding steel...

 

[OVERKILL]

Originally Posted By: MrCritical
I didn't say Toyota didn't do the right thing. Finally.

I said they didn't let someone supply bad frames for them for years without knowing about it.

So, would the right thing to do be not to sell trucks with frames you knew might fail? Or buy them back when they did?

You decide.


Well-put sir! And you echo my opinion to the letter.

 

[The_Jeff]

If they are offering 150% of KBB, this will drive up the price of the very vehicles that are under their goodwill program, which will be reflected in the next KBB, which they will then have to beat...

Kinda like a hostile stock takeover in a way...

Although I'm envious of that resale value. I got my 94 sonoma for $400, with, yup, rust ...

 

[Bill in Utah]

Yuk!

Major rust. That is the worst I've even seen.

My 1982 SR5 truck still is going (with the guy who bought it from me in 1990) but the bed, tailgate and doors are shot. To the point that he had to take the bed off and made a flatbed with stakes on it.

My uncles 1978 F250 Ford has some rust on the rear lips of the wheelwells and slight rust below the windshield but the frame still is in excellent condition in most parts. (I should know since i changed the oil last weekend for him)

I do think Toyota should be given a thumbs up for at least doing something like Ekpolk noted.

Of course, if GM did offer anything (like $100) per car that has had a intake manifold problem that would put them out.

Bill

 

[XS650]

Originally Posted By: eljefino
If they are offering 150% of KBB, this will drive up the price of the very vehicles that are under their goodwill program, which will be reflected in the next KBB, which they will then have to beat...
....


For every one bought back under the rust buyback, there will be several (my guess) that don't get bought back. Those that don't get bought back will have doo-doo market value.

My guess, which has exactly the same cash redemption value as yours

, is that the KBB will drop on them in a few months. There could be some good buying opportunities outside rust country.

 

[cousincletus]

Originally Posted By: ekpolk
Originally Posted By: from the cited article
Mr. Butto said he was not sure how much the program would cost, but it is “among the most aggressive programs we have put together in trying to take care of our customers.”

He said the automaker expected that a small number of vehicles will have such a serious rust problem that Toyota has to buy them back.

But if, say, 2 percent of those 813,000 Tacomas were bought back and the repurchase cost was only about $5,800 (for a basic 1995 two-wheel drive Tacoma with the 4-cylinder engine and 140,000 miles) that would amount to about $94 million.

“I don’t see how this is going to cost Toyota less than $100 million,” Mr. Ditlow said.

Someone please let me know when GM starts its buyback program for all the customers who got royally screwed after their 60-degree V-6 engines started sucking coolant into the crankcase and then ground themselves bits...

Oh wait, that's right, if it's after wty, as the intake leaks almost always are, that's the customer's problem.

So here's Toyota offering to buy back thirteen (13) year old vehicles, and they're getting hammered for it. Amazing... Please, someone tell me when it was that GM last offered to buy back thirteen year old vehicles with problems.


That's because GM doesn't make junk like that. An intake gasket costs about what a timing belt costs on an import, and gives plenty of warning.