Used Car Prices rise on news of 12 Million more vehicles to TAKATA Airbag recall
The latest on the Takata Airbag recall brings another 12 million cars to the already 10+ million previous recalled, many for additional component failure.
If you want to check your car to see if it is involved go to: vinrcl.safercar.gov/vin/ or your car manufacturer website and key in the vehicle identification number.
This newest announcement includes Honda GoldWing motorcycles and Ferraris. (See list below).
Off-lease vehicles on STOP SALE drive USED CAR PRICES HIGHER.
Acura, Toyota, Nissan and Honda have so many off-lease and trade-in vehicles sitting idle due to the lack of replacement airbags for the TAKATA Airbag recall, they can not sell them.
This 5+million cars nationwide is driving up prices on pre-owned models available for sale and causing some dealers to send these cars to auction, cashing out but leaving the public vulnerable to unscrupulous third-party and non-branded dealers selling them off without proper disclosure.
I recently had a client contact me about a Nissan he found on Craig’s List from a used car dealer. The car had an OPEN AIRBAG RECALL. When the seller was questioned his answer was, “That’s easy to fix, take it to the local Nissan dealer.” Not so fast, the part is not currently available, as dealers in more humid states are getting the parts first.
KIA and HYUNDAI dealers are having record used car sales because their cars did not use the TAKATA product.
Most industry insiders are expecting used car prices to remain on the high side through the first quarter of 2017, even with record new car sales the past few years. Primarily because so many of the trade-ins have this recall issue, and the car manufacturers are asking dealers not to sell cars with open recalls. Congress has taken on the challenge of determining how to handle vehicles with open recalls and no known fixes, or what might be the inevitable, a TAKATA in Bankruptcy unable to finance the replace parts. Acura and Honda are giving dealers small payments for their sidelined used car stock, but the costs are challenging for both sides.
MyCARLADY says savvy car buyers should BUY NEW.
Choosing a new 2015- 2016 NEW CAR is a better deal when used car prices are within $3000.00 different or even less in some cases.
I see dealers offering used 2015 Corolla’s with 15k miles for $17,000 when a new one is $20,000 with a full warranty, low financing or lease options and 2 years free service.
Plus, if you have a reasonable mileage trade-in without a open recall, you will likely get a great trade-in value. (show your service records).
I am recommending new car purchases using low cost leases and 0% financing whenever possible.
If you have any questions about new or pre-owned vehicles for sale, feel free to contact me at sarahlee at mycarlady dot com for free car buying advice.
MORE RECALLS ON AIRBAGS add another 12 million cars and motorcycles.
Here are the models covered by the recalls announced on today: 5/27/16:
Honda: Certain 2003-06 Acura MDX, 2005-11 Acura RL, 2009-11 Acura TSX, 2010-11 Acura ZDX, 2008-11 Honda Accord, 2010-11 Honda Accord Crosstour, 2006-11 Honda Civic, 2005-11 Honda CR-V, 2003-11 Honda Element, 2010-11 Honda FCX Clarity, 2007-11 Honda Fit, 2010-11 Honda Insight, 2002-04 Honda Odyssey, 2003-11 Honda Pilot, 2006-11 Honda Ridgeline, certain 2006-10 Honda Gold Wing motorcycles.
Fiat Chrysler: Certain 2007-09 Chrysler Aspen SUVs, 2005-12 Chrysler 300, 2008-12Dodge Challenger, 2006-12 Dodge Charger, 2005-11 Dodge Dakota pickups, 2004-09 Dodge Durango SUVs, 2005-08 Dodge Magnum wagons, 2004-08 Ram 1500 pickups, 2005-09 Ram 2500 pickups, 2006-09 Ram 3500 pickups, 2007-10 Ram/Ram 3500 cab chassis, 2008-10 Ram/Ram 4500/5500 cab chassis, 2007-12 Jeep Wrangler SUVs, 2006-09 Mitsubishi Raider pickups, 2008-09 Sterling/Bullet 4500/5500 cab chassis.
Toyota: Certain 2008-11 Scion xB and Lexus IS F, 2009-11 Toyota Corolla and Matrix, 2006-11 Toyota Yaris, Lexus IS250 and Lexus IS350, 2010-11 Toyota 4Runner, Lexus IS250C, Lexus IS350C and Lexus GX460, 2011 Sienna, 2007-11 Lexus ES350, and 2009-10 Pontiac Vibes designed for General Motors by Toyota.
Mazda: Certain 2009-11 Mazda6, 2007-11 CX-7 and CX-9, 2004-11 RX-8, 2004-06 MPV, 2003-08 Mazda6, 2006-07 Mazdaspeed6
Subaru: Certain 2003-04 Legacy and Outback, 2006 Saab 9-2x made by Subaru, and 2003-06 Baja pickups. Also certain 2009-11 Legacy, Outback and Forester; 2006-11 Impreza and Tribeca.
Nissan: Certain 2005-08 Infiniti FX35 and FX45, 2003-04 Infiniti I30 and I35, 2006-10 Infiniti M35 and M45, and 2007-11 Nissan Versa.
Ferrari: Certain 2009-11 Ferrari California and 2010-11 458 Italia.
Mitsubishi: Certain 2006-07 Lancer and Lancer Evolution cars.
Sarah Lee Marks is MyCarlady. She has over 26+ years of experience.
She writes about cars, and is a staunch consumer advocate on car related subjects.
MyCarlady offers free car buying advice, and private, auto-related services to help you maintain your personal or commercial vehicles.
Call Sarah Lee for more information: 702-521-7546. Join the MyCarlady newsletter to be kept up-to-date on this and other important car information.