Dear Driving for Dollars,
I’ve been shopping for a new car and recently decided on a Toyota Camry. Now, I can’t buy one with the Toyota recall and I’m wondering if I should wait or not. What should I do?
First, let me clarify that only some new Camrys cannot be sold currently because they’re affected by the Toyota recall as only some use the supplier that has produced the affected part. The Camry, as well as the RAV4, Corolla and Highlander models that have vehicle identification numbers beginning with the letter “J,” indicating they were built in Japan, are not affected by the recall and are still available for sale.
If you want to buy a Camry that was built in the U.S. and is affected by the recall, it’s possible you may be able to get a better deal when Camrys go back on sale. But you also may find the cars in just as much demand as before. TrueCar.com analyst Jesse Toprak says it could be a “buyer’s market with $1,000 to $2,000 cash incentives to get buyers back.”
Edmunds.com analyst Ivan Drury disagrees. He says, “With Toyota stopping production, there will be no glut of cars available, therefore we don’t think Toyota will need to pile on incentives. If it does occur, we believe it will be in the range of $1,500 to $2,000 per vehicle in Edmunds.com True Cost of Incentives, not actual ‘money-back incentives.'”
Edmunds.com’s monthly True Cost of Incentives report takes into account all automakers’ U.S. incentives programs, including lower interest rates and lease programs as well as cash rebates to consumers and dealers.
If you have a car question, e-mail it to us at Driving for Dollars.