Tundra engine recall - interesting news

Not if it came completely unplugged.....motor stops running customer thinks it catastrophic failure

 

That's trade in value. You can't base the value of a vehicle off of a trade in offer. 100% of the time, that offer is significantly lower than the actual value. Go to auto trader, your local dealers website, or any other reputable car re-seller and see what the dealers are selling similar vehicles for in your area. That is the value of your vehicle.

 

I hear you. At the time I purchased my truck, the dealerships in my area were selling them faster than they could get them in. MSRP was the best deal you could get.

I traded in a very clean 2015 1794 with 140K miles on it. They gave me $20K in trade. I probably left a little money on the table by trading in, but I hate the hassle of selling used vehicles myself.

I doubt I'll see that kind of trade-in value on my Gen 3 when it has 140K miles on it, even though I paid $25K more than the 2015. And my Gen 3 is not on the engine recall list......yet.

It is what it is....

 

I get that, but I like the convenience of trading in, rather than selling used vehicles myself. The time and hassle factor involved isn't worth it to me.

 

I saw that. 39 failures over 5 model years.

 

Have you verified all 39 personally and made sure those were the only ones?

 

I trust the NHTSA filing.

Under number of failures for the Toyota recall they put they had no idea how many had failed.

Seems GM is tracking better or being more forthright. Or both.

 

The convenience is nice, but you can't compare the trade in to purchase price and calculate depreciation. The actual value of the vehicle will be mich higher.

In the carfax report referenced in my previous post, it specifically called out trade inn as the offer value not private or dealer sale value making the depreciation calculation invalid in that instance.

 

I don't think I ever mentioned depreciation value. In fact, I think my post was pretty clear that I was talking about trade-in value.

Whether you judge it by depreciation value, or trade-in value, it doesn't change my point. The Gen 3s clearly aren't holding their value like previous Gens.

I'm not as emotional about my Gen 3 purchase as some are, here. It's a decent truck, so far, but I'm wishing I would have looked for a low mileage Gen 2.5, instead.

 

Toyota had the number of verified failures on their report to NHTSA. They didn’t know what the expected failure rate will be (still don’t probably) and just put a 1 in that column if I remember correctly.

You think over a million engines are being recalled because of 39 failures? You trust GM’s NHTSA report but not Toyota’s? Which one of those companies got bailed out by the same government that runs NHTSA?

 

Unless you are a car dealer the dealer sale value is useless, private party is higher than trade in but lower than dealer listing as it is in this instance. listings as On auto trader that same truck listing price is between 52-58K. Which sounds about right with the trade in at 48K.

I know I know...you can list your truck private party higher than dealer price and I guess you could find the one moron that is willing to pay you more for the same thing.

 

I’ll concede I’m likely misquoting Toyota’s statement. Whatever number they put would likely indicate we are way beyond the number of failures being discussed in this thread today.

The GM report is in another thread and is pretty clear they’ve identified 39 and are looking for more.

Make of it what you will. I expected more than 39 failures when you make the news. I thought it put the scale of this recall in perspective as not minuscule.

 

You kinda just proved my point though. If the car gets totaled, the insurance company is going to give you (im my experience ymmv) dealer retail not private party and call that number the actual value. Private party is lower, but still higher than trade as you said. Sooo thanks for making my point?

 

You're correct you didn't specifically mention depreciation it was another member.

 

I wasn't trying to counter your point or prove a point. it still stands that the 3rd gen trucks are not holding their value so far, not living up to the Toyota truck resale value. Considering there are 2021 1794's with low mileage listed (valued) at 53K on Auto trader. Many of them listed (valued) over the 2023's trade in. Prior generation truck is holding hard to value and current seems to be plummeting.

Now this may change at some point, but as it sits right now this does not seem to be the case.

 

I can't argue that. The sale price of the 2.5 gens was high enough it was hard to justify not buying new. I understand what you are driving at now.

 

With all due respect, are you disputing that Gen 3 Tundras aren't holding their value like previous Gens? If so, we can continue this conversation. If not, I'm not sure what your point is.

 

I am not disputing that third gens are depreciating faster than 2.5's. I am pointing out the error in using trade inn value to calculate the actual market value of a vehicle. No more no less.

 

So you're disputing a claim that was never made. OK, thanks for clarifying.

 

I think it depends upon your region, gulf states sure isn't seeing much depreciation.

 

Sigh,
You were disappointed with the amount in the email you got from the dealer. Then you quoted your purchase price for comparison. The conclusion being drawn was you were disappointed in the drop in value between trade and purchase. Jaxyaks responded with a note about not including extras in the purchase price such as warranties. I responded that your truck is actually more valuable than the email in that you were given a trade in quote not actual market value quote and the drop wasn't as bad as it seemed. I also suggested some places to get an idea of actual market value so you can see what it's actually worth. Correct me if I am wrong on any account. If so i apologize.

 

I posted a Carfax trade-in value. And I mentioned what I paid for my truck. I never suggested the trade-in was equal to the retail value because that doesn't matter to me. When I'm ready for a new truck, I trade my old one in. So trade-in value is all I care about. Not sure why that is so hard for you to understand.

You've acknowledged the fact that Gen 3s aren't holding their value, which was my whole point, so WTF are we still discussing?

 

I have no idea what we are discussing anymore. First you post a trade in value and compare it to purchase price then talk about third gen vs 2.5 gen value. Is there a link? Sure, but as far as i can tell it wasn't brought up until after I initially responded? Either way this is to mich fun for one old man in one night. I'm out.

 

Did you guys kiss and make up yet?

 

My beard tends to tickle, i think we simply went our separate ways.

 

We came to a mutual misunderstanding of points. It's all good. Thanks for your concern.

 

Alberta, Canada you decide if they're holding their value...





1794s look like they are still doing OK

 

Not sure how this got to a thread about resale value, maybe this should be shut down. However I did get some information from a friend that is a service rep at a Toyota dealer. Think this has been shared, engine replacement is hood off, front bumper and clip off, cooling systems off and that’s it. Said the engines they have done have gone really well, no issues, engines are running well. Mine is coming soon and Ill likely have 70K plus of perfect performance, Im happy to let them put a new engine in. I’ll post pictures and any review I can when complete.

 

Is there any interesting news yet?

 

Ok, this highlights a fundamental difference. My '18 is 160k miles in, and if someone told me they were going to lift my engine out and drop in a brand-new 5.7, I would be very far from happy. I assume mine has at least another 200k in it.