Possible Class Action Suit For Toyota Eroding Resale Value

[The G Man]

Kelly's blue book and other automotive guides have drop the resale value of Toyota anywhere from 2.5% to 4.5% in the last two weeks, a US judge will decide whether to consolidate the suits into a single national class-action suit for Toyota owners who believe the recalls have hurt the value of their vehicles:

http://bostonherald.com/business/automotiv...p;position=also

[SW03ES]

Good luck...

[Willemh]

They have to sue Kelly's blue book and other automotive guides. For sure Toyota's are more valuable now. They have good throttles now. Cant say that about other carmakers.... :P

[nc211]

Yeah, good luck! This would be like all of the SUV owners out there two years ago trying to sue the oil companies for the price of gas killing the SUV value.....

At the end of the day, the market sets the fair price. The market being you and I. The more educated the market, the more fair the price. If the market wishes to believe all toyotas are worthless now because of this, then that is a dangerously uneducated market place. However, if you're a wise buyer, it's a good time to use this as leverage on a better price, assuming the seller buys into this as well. I used the whole gas prices argument when I bought our V8 4runner, and it worked perfectly. $4 a gallon with the perception of $250/barrell prices coming any minute = leverage for an SUV buyer.

when the sheep go left, go right.

[The G Man]

I must say, this will be a tough law suit to win. Imagine winning a lawsuit because something you bought depricate unexpectly, but then again, I have seen people winning law suits for stupider reasons.

[The G Man]

I just saw this on the news, Toyota Motor Corp. said today that federal prosecutors have launched a criminal investigation into the company's safety problems. It seems that the deeper the feds dig, the more evidence they are finding.