With all the negative news that Toyota continues to receive, the resale value of older models has fallen tremendously.
Lakewood, NJ (PRWEB) February 25, 2010
While Toyota continues to apologize for their slow handling of sudden-acceleration problems in its vehicles, Kars4Kids continues to receive more older Toyotas than ever before. Even this year’s models have been pledged to the car donation charity.
“It’s not really a surprise that more Toyotas are coming in,” said Clifford Meth, a spokesman for Kars4Kids. “With all of the negative news that Toyota continues to receive, the resale value of older models has fallen tremendously and that makes the tax-incentive of donating a Toyota to charity highly attractive.”
Toyota, which has recalled nearly 8.5 million vehicles to fix acceleration problems in several models and braking issues in the 2010 hybrid Prius, has been nothing but apologetic to the public and the U.S. Congress. Nevertheless, when it comes to safety issues and the concerns that surround them, no amount of mea culpas seem to change the public’s perception of value. Consequently, resale value is declining at a rapid pace, says a Kars4Kids business analyst.
While more than 150 Toyota dealers recently gathered in the Capital to lobby lawmakers in support of the car-maker, Kars4Kids received far more older Toyotas than it had in previous months.
“We’re happy to receive these cars in any condition,” said Meth. “In many cases, the cars will be auctioned—and in other cases, depending upon their condition, they will be junked. The donations will benefit children in the many programs that we sponsor.”
Kars4Kids is a national 501(c)(3), non-profit organization. It was established in 2000.
For more information, contact Clifford Meth at 732-730-8595, ext. 108.
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