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Old 9th March 2011, 22:06   #1
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Default New Scheme by Toyota Trust - Preowned car division for customers buying Etios

Hi Guys

Toyota has a scheme going on from this month for people who are selling their car through Toyota Trust and booking etios.

Gist:

If you plan to sell your car then call up Toyoto Trust ( the pre owned car division of Toyota) and they come and inspect your vehicle and quote their price and once you have agreed to a price then if you plan to buy a etios you could tell the executive and he would block 25000 rs for the etios booking and the remaining amount would be transferred to your account/DD.

For eg if your car is valued at 3 lakhs then 25000 from this would be blocked and the remaining would be paid out.

The good thing is you can use your car till you get delivery of the Etios and once you get the delivery and then once you hand over your car then your 25000 would be released!

This is what I understood but people interested could call and find out in their respective cities for more clarity.
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Old 9th March 2011, 22:48   #2
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Default Re: New Scheme by Toyota Trust - Preowned car division for customers buying Etios

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Originally Posted by rajinibm View Post
For eg if your car is valued at 3 lakhs then 25000 from this would be blocked and the remaining would be paid out.

The good thing is you can use your car till you get delivery of the Etios and once you get the delivery and then once you hand over your car then your 25000 would be released!
Sounds a bit weird to me! Why would the showroom / potential buyers (of the seller's car) wait for months for the seller to get his/her Etios after paying out money for the car (depreciation increases during this period isn't it?)? And sometimes (frequently) buyers might request for test drives of the seller's vehicle - not sure how the seller would manage to keep shuffling between showroom and personal use everytime.
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Old 10th March 2011, 05:55   #3
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Default Re: New Scheme by Toyota Trust - Preowned car division for customers buying Etios

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Originally Posted by rajinibm View Post
Hi Guys

For eg if your car is valued at 3 lakhs then 25000 from this would be blocked and the remaining would be paid out.

The good thing is you can use your car till you get delivery of the Etios and once you get the delivery and then once you hand over your car then your 25000 would be released!
Sounds really weird, Pricing for the existing car would be finalized only at the time of sale depending upon the condition of the car and this is how all used car dealerís work. However in this case they determine the price of your car well before you handover to them and moreover what would happen if we make any new dents or scratches in the car?? What would be the depreciation then??

I have contacts both in Toyota showroom and U-trust, let me check on this and get back on how this whole scheme works out.
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Old 10th March 2011, 07:39   #4
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Red face Re: New Scheme by Toyota Trust - Preowned car division for customers buying Etios

Absolutely weird, does not look as simple as that. Some hidden drawbacks need to be identified. Although could have been a good scheme, lacks clarity on lot of issues already pointed out in the posts. Just one more to add to that list - Would the valuation take a beating if the kms registered at the time of booking is different from that when the actual owner hands over the car? What if there are Insurance claims in between the periods.
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Old 10th March 2011, 10:22   #5
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Default Re: New Scheme by Toyota Trust - Preowned car division for customers buying Etios

Haven't heard about this exchange scheme but here in Pune one Toyota dealer - DSK offers another scheme. They offer interest on your booking amount 50K for the waiting period at some nominal (don't remember but something link 4%) interest. The condition is that your booking should mature at least 15 days then it doesn't matter whether you cancel your booking after that they will refund your booking amount with interest!
Sounds good, but I doubt if one really does it there must be some *conditions apply clause in that!
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Old 10th March 2011, 10:36   #6
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Default Re: New Scheme by Toyota Trust - Preowned car division for customers buying Etios

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Originally Posted by iSpoke View Post
They offer interest on your booking amount 50K for the waiting period at some nominal (don't remember but something link 4%) interest.
I remember even Tata dealers used to offer this interest scheme for Nano bookings a year or two ago.
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Old 10th March 2011, 13:35   #7
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Default Re: New Scheme by Toyota Trust - Preowned car division for customers buying Etios

Back when I had thought of trading in my M800 for a Versa, the TrueValue outlet had offered me a quote. I actually went to surrender the car two weeks later, the quote still stood. Due to the loan not being prepaid by me (I expected them to do it), they refused to take the car, but they were ready to let me foreclose the loan and still keep the car till the time it all had been sorted out. So it would be about a month since they checked the car and quoted the price, till I finally handed it in.

Cancelled the whole plan later, due to other issues, but if the TrueValue could trust a customer, why not Toyota? There may be a fine print, but it doesn't sound like a dubious move at first go.
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Old 10th March 2011, 13:44   #8
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Default Re: New Scheme by Toyota Trust - Preowned car division for customers buying Etios

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Originally Posted by camchennai View Post
what would happen if we make any new dents or scratches in the car?? What would be the depreciation then??

I have contacts both in Toyota showroom and U-trust, let me check on this and get back on how this whole scheme works out.
They keep 25k with them to cover such risks (dents etc). Do let us know what you hear from U-trust.
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Old 10th March 2011, 20:31   #9
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Default Re: New Scheme by Toyota Trust - Preowned car division for customers buying Etios

I spoke with them and here is deal.

Car will be valued and 25K would be blocked as booking amount for Etios.
You can use your car till the time Etios is delivered
25k would be returned when you exchange this car.

What benefit will a customer get:-
For example - You plan to sell your old car through U-Trust this month (March) and your Etios is delivered only on August. Now you have waited 5 months for your Etios and in these 5 months market value for your old car would have come down. (In March value is 3L and in august it would have come down to 2.75L). U-trust will stay pay 3L for your old car in August and they will consider whatever is quoted in March as the selling price. You won’t lose the depreciation cost of your old vehicle and that is the only benefit here.

However there is on catch here, we need to look at what price does U-trust offers for your old car. Is the price on par with the market value or less? if it is on par then it should benefit everyone.

This scheme should attract few new bookings. Innovative move I would say
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Old 10th March 2011, 20:37   #10
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Default Re: New Scheme by Toyota Trust - Preowned car division for customers buying Etios

Toyota U-Trust buys the car from you and displays them at their showroom and sells them for a minimum profit of 15k so the price they quote woud not be ridiculously low but maybe a tad low than what you would expect.

But for people who dont have the time to sell the car on their own would not probably look at a 15-20k lesser price on their car perhaps.

Also , I feel maybe the Etios delivery time would be shortened considerably in the coming months starting from this month and so the wait when you sell and the actually handover your car would not be too long!
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Old 15th April 2011, 20:33   #11
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Default Re: New Scheme by Toyota Trust - Preowned car division for customers buying Etios

Hugely OT, apologies in advance.

We had booked an Etios VX Symphony Silver in January, here in NOIDA. Recently we decided to go for an SUV instead. Before we could have cancelled the booking, today the call came from the showroom that the car is here and ready for delivery.

We are going to cancel the booking anyway, but in case a fellow member is interested, can transfer the booking to his name. Interested members can PM me.
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