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Lombardi Law Firm

Iowa's Takata Airbag Legal Problem - Trade-in Value

Steve Lombardi
Iowa personal injury, workers' compensation, motorcycle, quadriplegic, paraplegic, brain injury, death

Blog Category:
7/7/2016
Comments (0)

Here is why Takata Air Bag Inflators should matter to you. Most car and truck owners when buying a new one trade-in their old vehicle. The car salesman comes to you with a price for the car you own and says that is the “market value”. But how is the market value determined? It is based on “the market”, which is nothing more than a collection of the prices that your make and model sold for across the United States or even in your region of the country. When everyone with the same make and model of cars/trucks are all selling defective vehicles the “market prices” are depressed. This means all people who own and sold a defective vehicle were being paid a lower price. Take a step back and think this through. The reason for the defect has to do with the manufacturer, not some random accident the owner was in. So when you get paid a lesser price at trade-in time you’re actually paying to repair the defect. With Takata airbags this means those trading in their cars/trucks are paying to replace the defective canisters with a lower trade-in allowance.  

Like the VW emissions standard cheating scandal the Takata airbag inflator defects will likely result in an enormous loss for car and truck owers whose vehicles are equipped with this defective equipment.

Owners of vehicles aren’t aware they even have the problem, but at resale time when cars and trucks are traded in the owners will be at a huge disadvantage against the dealers who will have all the inside information and use it to claim the market value of your vehicle is way-low. Ridiculously low but because of a defect that has nothing to do with you, the owner.

We are more than happy to work with Jere Beasley on any Iowa claims involving Takata airbag inflators. Here is their latest report.



Category: General


1 Comments to "Takata Air Bags Are Sucker Punching Owners at Trade-In Time"

I just found out about this when I went to trade in my 2010 VW Eos on a newer model yesterday.

Are there any class actions in progress for owners of cars with Takata airbags affected by the recall?
Posted by Greg Leck on August 11, 2016 at 12:59 PM

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