Recall and trade in value

So I have a 22 tundra that is on the recall for the engine and it has 18,000 miles on it. I took it in today to try and trade for a 24 platinum tundra crewmax and they would only give me $38,000 for trade in value. This is absolutely ridiculous what Toyota is doing. The recall isn’t going to have an answer until end of year and than they won’t even start fixing until next year. I’m thinking of going to lemon law lawyer in California

 

Lawyer up and stick it to them before they stick to you. Have them buy it back or give you a brand new 2024.

 

Welcome to the forum.

My wife just bought a BMW X1.
She went by CarMax to see what they would give her for her Cadillac XT5 to get BMW to match it.
BMW offered her $4K less for the trade-in and wouldn't budge on it.
She drove back to CarMax, sold the car, took an Uber to BMW, and bought the X1.

Maybe see what CarMax or Carvana will give you for your 2022..

 

Last couple years really been a mind F for a lot of people…in the sense we buy brand new cars, slam 2 years and 20k miles on them and think we should be able to trade em in for the same amount we paid new.

Welcome back to Earth

 

@Dmusgrove, what will a lemon law lawyer do for you? You didn't say the truck has been in the shop, just that you didn't like the trade in offer. But, hey, go ahead and give money for a consult only to be told there is nothing currently wrong with your truck.

 

@Dmusgrove if that same dealership had your truck on the lot with an open engine recall (with no current remedy) how much money would you offer them to buy that truck? More than $38,000?

 

I was offered $34k earlier this year to trade in my '22 Tundra with 15k miles (loaded SR5 crewmax w/ 6.5ft bed).

We were ready to walk from the deal on the new car we were interested in, unless they gave us KBB minimum which was $40k. 2 minutes later after our sales rep talked with the guy behind a computer, they offered $40.5k for the trade in.

That's a $6.5k swing in 2 minutes. Everything is negotiable, and if you don't like the deal... walk away and look for a better one.

 

What did you pay for it if I may ask?

 

I bought my '23 in April of '23 (Build date 4/23 so not even within the engine recall...yet) for $60K new (sticker was $67K).
Recently when I was shopping around the best offer I got was $53K, most dealerships were in the upper $40K range. Only 8500 miles on it.
A few weeks before the engine recall I was offered $55K from the Toyota dealership I bought it from (initially they offered $52K but I told them I had been a loyal customer for over 20 years and they upped it to $55K). Fast forward to after the engine recall...when I tried to email and call the sales manager at Toyota I had been working with he would not not return any of my calls or emails. He absolutely ghosted me.

Needless to say they have lost a loyal customer of over 20 years.

 

Market price. There are a LOT of 22-23 for sale used near me. Why would they take a big bath for you? Like someone else said "welcome to reality"

Look at these two trucks side by side, I do think the 2018 is over priced and its been there a few weeks, but it gives you an idea on how these are holding value compared to the older ones

 

Not sure how this happened, 2022+ TT named the least reliable truck in 2024 consumer reports. @testerdahl

https://www.youtube.com/watch?v=fa81XfBSS7Y

 

Also, the market is flooded with Gen 3 Tundras. So not sure how much effect the recall actually has. There is more supply than demand right now. I see Gen 3 on pretty much every trip i go out now. Not sure why they would go upside down on your trade-in when they have to heavily discount their new stock to sell them.

 

Moral of the story: the COVID shenanigans are over. You can't buy a brand new car, drive it for 1-2 years, then get a full cash refund. Instead you'll lose 10-25% of the initial MSRP to the evil monster named depreciation.

Many many years ago, like 5 years ago, this was the state of affairs and this evil monster, depreciation, has come back to haunt those that "need" new vehicles every 18 months.

 

truth ^

plus one post members who complain and not even say all the details, like what trim and options, what condition (for real) is the truck in, everyone says “excellent “ when in fact like 3-5% of used are actually in that , also how many locations made an offer etc

For those that are wanting to trade and have a recall, just chill out and wait until there is a remedy if top dollar is needed or wanted , otherwise just do it and move on with life , because no matter what, these are depreciating assets, even though a ton of people keep saying “investment”

as stated, the Covid anomaly is over, and nobody wants a first year model sr5 truck for top dollar when you can get a limited or platinum for 8k or more off now. It’s just the way the market turned

Toyota is also kicking ass at the moment and the tundra has the largest market share it has ever had at the moment for 1/2 tons, I think I saw it was over like 15% and sales are better than ever

 

The new TTV6 is the reason I looked for a 2021 NAV8.

 

I get that, that’s totally fine and I certainly understand that perspective, but that is a smaller market of people as evidenced by record setting tundras sales and market share of the new platform

for me, no way I would buy another 2.5 gen, I had two of those already and wanted the next gen comfort , tech, and convenience, but that said, it was a no way on the first year model, Toyota or not , I tested a 22 and bought a mid year 23, build quality and qc were significantly improved as you would expect after a few years of production

 

When I was looking, test drove 21 with 5.7 and 23 with TT3.4.. Went with TT3.4, it drove better with more power down low where needed for my use.
No Regrets.

For clarity, at the time of purchase, no recall. I had heard of turbo/wastegate issues that had been resolved. Knew a few had motor issues at local dealer, none with hybrid. I purchased knowing possibility of issues as end of second year run.

If looking today, I'd still go tundra.

 

no one doubts that ... but ..........

 

ya my butt is more comfortable too as it rides WAY better, comfort mode for the win

 

Quality for the win

 

That is today. What was it at the time of '22 and' 23 buyers?

 

I heard CarMax type places are not taking turbo tundras in at all on trade.
I watched a video of a guy who bought the top end 4wd Tundra, put 5k on it and changed the oil himself… He tore into the oil filter looking for particles and found nothing… He’s keeping the truck.

 

If your truck is not acting up, just under the recall, probably the best thing you can do to minimize losses is to keep it, drive it, and let Toyota fix it when they figure out what they're going to do. You will be getting your value out of it and the resale prices will come more inline with other trucks as they all age. Doing something now just about guarantees that you'll take a financial beating.

BTW, Welcome from LA (Lower Alabama)!

 

What was the Carvana quote vs dealer ?

 

This is why I leased it, but no issues at all after 7k miles if there is it’s their problem to deal with.

 

One post members never return

 

Welcome to the forum!

 

Guess that's what makes them one post members, lol.

 

20+ Gen 3s sitting at dealer near me

 

yup production is up as they moved the taco production out of Texas , that’s why sales are setting records and you can find more to pick from here and there , my dealer doesn’t have much though but I’m in a large market