Used Toyotas Selling at 5% Below Market Value
Car shoppers wanting to take advantage of Toyota's problems should consider the used car market.
According to Edmunds.com, prices for used Toyota vehicles affected by the recall are 4.5% below market value.
In essense, you're getting a 5% discount on used models such as the Toyota Camry and Toyota Corolla.
Rental car companies have been returning these vehicles in droves, pushing the supply higher. This, coupled with the negative perception many car buyers have towards Toyota, has driven the prices lower, while at the same time other used cars have gone up in price.
If you're considering buying a used Toyota, now is a great time to take advantage of the situation. These opportunities don't show up every day.
My Recommendation for Car Shoppers
TrueCar and Edmunds are the quickest way to see the lowest car prices in your area. These sites show you no-haggle prices from dealers closest to you - and the deals are usually really good. This should be the first step you take when negotiating your car price. Follow this up with my checklist to make sure you squeeze out every last bit of savings.- Gregg Fidan
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid
About: Gregg Fidan
Gregg Fidan is the founder of RealCarTips. After being ripped off on his first car purchase, he devoted several years to figuring out the best ways to avoid scams and negotiate the best car deals. He has written hundreds of articles on the subject of car buying and taught thousands of car shoppers how to get the best deals.
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