Lost Value of Toyota/Lexus Vehicles

Lost Value of Toyota/Lexus Vehicles

Do you own a Toyota or Lexus vehicle?  Most Toyota or Lexus owners purchased their vehicles based upon a record of safety and maintenance that no longer stands.  The recent, massive safety recalls of Toyota and Lexus vehicles has caused resale value of Toyota and Lexus vehicles to plummet. Many Toyota owners contend that Toyota knew about the safety problems but concealed this information from buyers.

Toyota has recalled 5.6 million vehicles in the United States due to problems caused by accelerator pedals that become sticky or get trapped under floor mats.  Another 437,000 Prius models have been recalled for anti-lock braking problems.  In reaction to the recalls, Kelley Blue Book lowered the resale value of recalled Toyotas an average of 3.5 percent. In addition, many Toyota owners are afraid to drive their vehicles, while others are concerned that their insurance premiums will increase.

The National Highway Traffic Safety Administration (NHTSA) reports that 52 people have died in accelerator-related crashes.  NHTSA is also looking into claims of Toyota owners that their vehicles continue to surge forward unexpectedly after repairs have been made.

If you own a Toyota or Lexus vehicle and are interesting in pursuing a claim for the loss in value of your vehicle, please contact us for a free consultation of your claim by calling 1-800-642-5297, or by submitting the contact form below:

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