March 15, 2010
Used car prices are up about 2 percent from last month, but the prices
of used Toyotas affected by the recalls are down about 2.5 percent,
according to Edmunds.com.
"Many used car buyers are turned off by the negative publicity
surrounding the Toyota recall, so prices of those vehicles are pacing at
about 4.5 percent below the market," said Edmunds.com Analyst Joe Spina.
Spina added: "Also contributing to the decline in values is the fact
that a fair number of Toyota Camry and Toyota Corolla models were
recently returned by rental fleets, making it somewhat of a buyers'
market for those vehicles."
Compared with this time last year, the average three-year-old midsize
sedan increased 6.6 percent in value, while the average three-year-old
Camry price is flat. Compared with January, before the Toyota recalls
came to light, prices for used Camry models are down almost 4.5 percent.
By comparison, Mazda 6 and Chevrolet Malibu have risen about 1.5
percent.
"Certainly there are bargains to be had because of Toyota's issues,"
noted Edmunds.com Senior Consumer Advice Editor Philip Reed.
"Car-shoppers are in a great position to negotiate, and once they pick
up a Toyota - or any used car -- they should immediately get their
contact information into the automaker's owner database to be kept up to
date on recalls and other alerts."
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