Toyota To Resolve Tacoma Problem Through Mass Buyback Program
If you are the owner of a Toyota Tacoma truck, particularly those trucks made between 1995-2000, you may have a goldmine on your hands. Or, at least a rust bucket that Toyota wants to fix.
Toyota has initiated a special program to buy back the trucks after complaints that the frame rails on some of these models have overly rusted and cannot be repaired. Toyota is planning a mass mailing to more than 800,000 Tacoma owners, instructing customers to bring their car to a local dealer for an evaluation. If dealerships discover sufficient rust damage to the frame, Toyota promises to either repair or repurchase the vehicle. If there’s no rust perforation present, an extended warranty of fifteen years — with no mileage limitation — will be given.
The goldmine for Tacoma owners is in the price that Toyota indicates they are willing to pay for each vehicle. Jalopnik says that owners will receive 150% of the truck’s value as compensation. Owners won’t be required to purchase another truck — they can cash their checks for whatever purpose. Even if your truck is in poor condition Toyota will consider its condition “excellent” and base its payment to you on that value. Thus, if your 1994 Tacoma is on its last legs you could be given enough money to buy a new one.
More recent model Tacoma trucks have been experiencing acceleration problems, an issue that is also under investigation.
Trackbacks
- Your page is now on StumbleUpon!
- Rusty Toyota Tacoma? Toyota May Buy Back Your Truck For ... » Autos News » BuzzTracker News Headlines
- The Auto Writer - MyBlogLog
- confusionforums.com :: View topic - Know anyone with a 1995-2000 Toyota Tacoma?
- tacoma buy back program - Dogpile Web Search
- Massive Toyota Tacoma Buy Back - The NEOW Forum
- tacoma 1995-2000 buyback - Web - WebCrawler
- A1-Webmarks - User MattK
- old new truck - Tacoma World Forums
- Toyota to Resolve Tacoma Problem Through Mass Buy Back Program : reddit.com
- keegan.matt's Friends on Faves
- Need a truck!
- Toyota Truck Rust Problems - Page 2 - Corvette Forum
- Rock Solid No More: Toyota’s Image Takes A Hit
on 
April 9th, 2008 at 5:56 am
Very clever of Toyota to take an issue that has owners worried that they bought wrong and turn it around so that those people feel good about the deal.
Would that other manufacturers were as savvy…
April 9th, 2008 at 12:38 pm
I hadn’t heard this. But, I have noticed an increase in the cost of these trucks at the auction lately. I’ll keep my eyes open for them now.
April 9th, 2008 at 12:42 pm
Driving Course, it can also be a way for Toyota to sell a bunch of new trucks. In effect, Toyota is giving a hefty rebate check even without a truck purchase. For owners who decide they want a Tundra instead, then another $5500 in savings could be realized.
Enigmanuma, if you find a junk Tacoma at auction then go ahead and buy it and turn around and sell it to Toyota for a hefty profit!
April 20th, 2008 at 3:01 pm
I’m extremely impressed with the manner in which Toyota is handling this. My truck is one of the affected units. First of all, Toyota owned up to it’s fault. The dealership offered me a brand new loaner (which I declined, I don’t think my truck’s going to fall apart in two weeks). I haven’t received my offer yet, but from what I hear everyone who already has is extremely pleased. When I was telling a Lincoln/Mercury salesman about this, he had a hard time believing me. Yet again, the foreign automakers trump the domestic ones on almost every front. Kudos to Toyota!
April 21st, 2008 at 9:14 am
Love toyota……they have it right from the CEO down to their products.
All the objective literature says the same things about toyota…..it’s just a good company!
April 27th, 2008 at 11:53 am
The offer is real, however, the dealer told me you have to own the vehicle for a minimum of two years.
April 28th, 2008 at 9:19 am
Thanks for sharing that information, Jim. It makes sense too — otherwise anyone could run out and get a Tacoma and flip it for a new vehicle.
May 1st, 2008 at 1:52 pm
Does anyone know how to go about this program?
May 1st, 2008 at 2:33 pm
Hi Jaime, contact your local Toyota dealer and find out how they are handling it. If your truck qualifies, they’ll tell you what to do next. Likely, you’ll have to bring it in for a personal inspection.
May 9th, 2008 at 4:08 pm
Nice to see a builder back it’s product. I bought a Ford Pinto in the 1980’s, brought it back to the dealer who sold it to me 9 months later with rust perforations all over it, the dealer laughed at me and told me ‘Buyer Beware’ some nice, and some nasty letters later, Ford pretty much told me to go to hell on the matter. I never bought another Ford product because the company was not behind what they sold.
PS Good show Toyota, way to go!
May 11th, 2008 at 8:53 am
I agee completely with taco-owner. Toyota is backing up its reputation for quality and doing right by customers. I am also affected and have not yet recieved my offer but the estimates are well above what I could get in a private sale.
I am looking at a used Tundra – with the price of gas probably not the best move but at the same time I have a lot of faith in Toyota products
May 12th, 2008 at 10:48 am
Hi,
I’ve got a 94 Toyota Corolla with the same problem. The rocker panels are so rusted the shop basically said I’d be better off junking the car. Any chance Toyota would give me a rebate?
Thanks
May 12th, 2008 at 11:26 am
Dave, that is hard to say. Your best bet is to go to your local Toyota dealership to find out if you’re covered. Also, check this site out for “secret warranty” information that you may not know about:
http://www.consumeraction.gov/caw_automobiles_warranties_lemon.shtml
May 14th, 2008 at 10:45 pm
Hello
For anyone that is getting a hard time from Toyota in terms of the Toyota Tacoma Frames rusting out please try this website The Center for Auto Safety It has alot of valuable information on it and you can file a complaint if you wish. Another website is Home | National Highway Traffic Safety Administration(NHTSA) | U.S. Department of Transportation file a complaint and they will start investigating your complaint. Hopefully this can help alot get many of these defective vehicles off the road and correct corporate irresponsibility.
Thanks
May 15th, 2008 at 10:45 am
“if your 1994 Tacoma is on its last legs you could be given enough money to buy a new one.”
A new Tacoma is about $15k, more or less. Where in the world is a ‘94 Tacoma sell for $10k?!
May 15th, 2008 at 10:53 am
Ham, the owner of the ‘94 Tacoma would still have to come up with some money, but since Toyota is giving owners well over book value (not condition) then the owner of a rusty Tacoma could fetch a nice amount for their relic.
May 25th, 2008 at 9:54 am
Hi,
Another thing to remember is if your Tac does fail inspection, Toyota is suppose to provide you with a free loaner vehicle from the time you turn in your truck to the time you pickup your check. I rec’d my check last Thursday for more than what I paid 4 years ago. The problem I’m finding with this program is that it’s driving up the cost of used Tacomas. It’s almost impossible to find one around here (Central New England). I believe Toyota had a great marketing strategy. Although they will be taking a financial hit, they will be profiting in the long run. I miss my truck.
June 6th, 2008 at 7:21 pm
This is to Matt whos mouthing off about Toyota “corporate irresponiblity”. I can tell Hes a typical liberal with a victim mentality. Toyota is a highly responsible company and they should be held up as a great example for the way companies should be run (without need for unions, by the way). I just got my 150% check for a rusted out 98 Toyota Tacoma. How many other companies would back their product up like this?
July 2nd, 2008 at 6:40 pm
I would be checking craigslist for these! You could get a really good deal on one and have toyota rebuy it or get hooked up with an awesome warranty. Toyota knows what they’re doing imo
John Browns last blog post..Projector Information
July 5th, 2008 at 5:26 pm
Alight I had a 1996 Toyota Tacoma Extended Cab with 192,000 miles. Now if I were to trade it in I would probably get $5K at best. The AC doesn’t work, the rear bumper is all smashed in. I got my offer letter last Tuesday and it said $11,970. I almost wet my pants when I saw that number. If you have a Tacoma and received a letter I recommend everybody take their truck to them. The dealership put me in a Toyota Corolla rental for free. I didn’t even have to accept the offer. But I was crazy not to. I bought the truck used for $12,300 in 2001 and I am getting about 12K for it. That kind of deal is unheard of. I don’t necessarily have to buy another Toyota. Hell if I had another vehicle I could just throw the check in the bank. I am very happy with Toyota and I will buy another one in a heart beat.
July 7th, 2008 at 9:30 pm
Hi, I have a 97 tacoma took it in to the dealer after receiving my letter,I checked out the frame myself, I’m no pro mechanic by any means but I do know you should not be able to pull off chuncks of your frame with your hand,rusty flaking everywhere even the welds look bad,the guys at the dealer beat around on it with a hammer as stuff fell off,they said it was fine and sent me on my way with an extended warr. Not very happy I now have a truck that is soon on it’s way to being worthless,sad thing is they know about it!
July 8th, 2008 at 4:35 am
Mike, that is a solid return on your investment: 7 years of driving that cost you just $300 plus gas, insurance, and upkeep. Enjoy your new Corolla!
Darryl, you should challenge the dealer’s assessment. If something fell off, did they put it back on again? If I were you, I’d take lots of pictures and send them to Toyota’s regional manager. Squawk and you’ll get heard; say nothing and you’ll miss out on this opportunity.
July 15th, 2008 at 1:46 pm
okay i just called Toyota and this is only is you got your Toyota inspected (they will do it for free) and the rust is because of their manufactured problem. if your Toyota has been offroading like i know so many have they are less likely to fix or buy it or as well as if your roads are salted. they will only ever buy the truck if it is way beyond fixing . you MUST get in inspected right away.
September 27th, 2008 at 10:31 pm
I just received a check for $13,087.50 for my 98 Tacoma Pre-Runner. It took about 2 weeks after my truck was inspected.
Plus the dealership gave me a new Camry to drive for 30 days. Will I buy another Toyota — You bet!!! what other auto company stands behind thier product like this? The blue book price for my truck was $4500.00 This was a great offer. Kudos to Toyota!!!!!
December 5th, 2008 at 5:51 pm
Terrible experience!
I have a Tacoma that I braught in for an inspection that passed, meaning that it has significant rust in the frame. I was waiting for Toyota to call with their offer but when they did they said it no longer qualified. Their reasoning was that it was considered a “total loss” a number of years ago by an insuranec company. The title is not salvage and in the accident report it mentions that they checked the frame and there was no damage. So, long story short, my Tacoma is worthless because of the rust which is due to the manufactoring and has nothing to do with the accident it was in. Also, durring the inspection they hit the frame with a hammer and knocked two large wholes in the frame because of the rust. Now the dealer (Toyota of Grand Rapids) is refusing to fix the wholes. My truck is worse off then when I braught it in. Also, I can’t sell it with the rust and wholes (one whole is 5 inches long) and it’s not safe for me to drive. I have to drive it anyways. The people I talked to at Toyota were very rude to me and did not care about my situation at all. Does anyone know what I can do?
August 30th, 2009 at 9:12 am
I Know that you’re blog is quite some time ago but I still wanted to write. We are having the same problem. Due to damge that was repaired on one side due to an accident, they are not going to fix the frame of our Toyota Tacoma which is rusted almost completely through in two spots. Did you ever have youre issue resolved?