Topic: Honda CRV corrosion issues?

[Dante]

Just came across this article.

https://www.moneysense.ca/columns/ask-moneysense/what-the-honda-corrosion-recall-means-to-owners/amp/

It seems like Honda may have a serious problem on its hands if they have to buy back affected vehicles.

[mrthompson]

A recall letter from Honda arrived in the mail a few weeks ago.  I'm waiting for another couple of weeks before taking my 2008 in for its inspection.  I've been too busy, plus I want to maximize the salt exposure to the vehicle prior to inspection. 

[Dante]

A recall letter from Honda arrived in the mail a few weeks ago.  I'm waiting for another couple of weeks before taking my 2008 in for its inspection.  I've been too busy, plus I want to maximize the salt exposure to the vehicle prior to inspection. 

So are you hoping for the payout? Sounds like Honda is paying above market price.

[mrthompson]

I'm hoping to keep the CR-V for another couple of years, so I'm not counting on a payout. 

[tenpenny]

From what I heard this morning, one local woman took hers in for some other work, Honda gave her two options:  accept their buyback, or sign a waiver releasing Honda from all responsibility.  And the dealer won't give her car back until she chooses, and the dealership said they would start charging a storage fee.

So make sure you have all of your personal stuff out of the CRV before you take it in for the recall.

[Ex-airbalancer]

$6,300 for a 12 year CUV with 240,000 I think is a fair deal
https://www.cbc.ca/news/canada/nova-scotia/automobiles-recall-honda-canada-consumers-buy-back-1.5080925

[Ex-airbalancer]

If you decided not to take the buy out can even put the cuv on the road since it would be unfit 🤔

[Dante]

For someone ready to buy another car anyway,  this is good opportunity to get rid of it for a good price so it's good deal. On the other hand, if you are not ready to buy a new car, this is a bummer no matter how good the compensation from Honda.

If something like this would happen to me now with my Outlander (12 yo) I'd be pissed but in 2 years from now perhaps I'd be happy. It's annoying and disturbing to be forced by an unforeseen situation like this to replace your car rather than you deciding when to do it. I know there are other perils you cannot control - like your car being totaled in an accident, and should always have a plan B in mind, but I guess this may come out of nowhere for most people thinking their Honda's will last forever.

[Seafoam]

Maybe Honda will put new unibodies under them like Toyota Tacoma's. Not
Probably just crush them. It's a shame because a lot of those older CRV's have accumulated quite a few kilometers.

[KD]

Buddy of mine never took the buyout with his old 96(?) Tacoma.  Not sure what the details were but he's still driving it today. 

[tenpenny]

For someone ready to buy another car anyway,  this is good opportunity to get rid of it for a good price so it's good deal. On the other hand, if you are not ready to buy a new car, this is a bummer no matter how good the compensation from Honda.

If something like this would happen to me now with my Outlander (12 yo) I'd be pissed but in 2 years from now perhaps I'd be happy. It's annoying and disturbing to be forced by an unforeseen situation like this to replace your car rather than you deciding when to do it. I know there are other perils you cannot control - like your car being totaled in an accident, and should always have a plan B in mind, but I guess this may come out of nowhere for most people thinking their Honda's will last forever.

Exactly.  My wife planned to keep her 08 Forester for a couple of more years, we even spent some money repairing the rocker panels, then 2 weeks later a deer jumped into her grille, totalled it.  Had to spend a bunch of money that we were not planning on.

The CRV thing is the same concept, if you weren't planning to replace it, that will be a rude and unwelcome expense.

[tortoise]

$6,300 for a 12 year CUV with 240,000 I think is a fair deal
https://www.cbc.ca/news/canada/nova-scotia/automobiles-recall-honda-canada-consumers-buy-back-1.5080925

I dunno.  On Autotrader there's a few with that age and mileage going for more.  And that's in Ontario and Quebec where I presume the prices are lower than out east.

Seems to me that offer is at market value, and they should be offering more due to the inconvenience.

[Arthur Dent]

That stinks. Ford had something similar with Winstars several years back.

[random006]

$6,300 for a 12 year CUV with 240,000 I think is a fair deal
https://www.cbc.ca/news/canada/nova-scotia/automobiles-recall-honda-canada-consumers-buy-back-1.5080925

I dunno.  On Autotrader there's a few with that age and mileage going for more.  And that's in Ontario and Quebec where I presume the prices are lower than out east.

Seems to me that offer is at market value, and they should be offering more due to the inconvenience.

The problem with that argument is once the recall becomes widely known, that "fair market value" price will probably drop.  As a result, the price offered by Honda will then start to look good indeed. 

In short, a sneaky but effective trick by Honda.

[OliverD]

$6,300 for a 12 year CUV with 240,000 I think is a fair deal
https://www.cbc.ca/news/canada/nova-scotia/automobiles-recall-honda-canada-consumers-buy-back-1.5080925

I dunno.  On Autotrader there's a few with that age and mileage going for more.  And that's in Ontario and Quebec where I presume the prices are lower than out east.

Seems to me that offer is at market value, and they should be offering more due to the inconvenience.

Black Book trade in value for a 2007 EX with 240k is under $4200. $6 sounds fair to me.

[Dante]

$6,300 for a 12 year CUV with 240,000 I think is a fair deal
https://www.cbc.ca/news/canada/nova-scotia/automobiles-recall-honda-canada-consumers-buy-back-1.5080925

I dunno.  On Autotrader there's a few with that age and mileage going for more.  And that's in Ontario and Quebec where I presume the prices are lower than out east.

Seems to me that offer is at market value, and they should be offering more due to the inconvenience.

Black Book trade in value for a 2007 EX with 240k is under $4200. $6 sounds fair to me.

But the argument the owners can make with Honda (like they would with let's say an insurance company in case of a write off) is can you actually buy a similar replacement vehicle today on the used market for the money they are offering? I think a voluntarily trade-in is a different situation that a forceful buyback due to a safety recall.

Depending on how many vehicles will turn out to be affected by this issue and the way Honda handles these customers may or may not turn into a PR nightmare for Honda.

[tortoise]

Granted dieselgate was an entirely different animal, but the offers that owners were getting from VW were downright crazy. (just ask blueprint)

I'm not saying that Honda needs to buyback the CR-Vs at the same margin, but it definitely be above market value. I don't really see how blackbook value is relevant in this case.

[tenpenny]

I would think that paying above market would help earn goodwill and therefore would be a good thing.

[tortoise]

I would think that paying above market would help earn goodwill and therefore would be a good thing.

It would definitely go a long way towards getting people to replace their CR-V with another Honda.

[Dante]

Granted dieselgate was an entirely different animal, but the offers that owners were getting from VW were downright crazy. (just ask blueprint)

Yeah... that was a totally different animal indeed. I know someone who actually made money on his Golf Wagon TDI after few years of ownership. He bought is slightly used (one year old or so) in the US when the CAD was at par or around with USD and returned the car back to VW USA just before the deadline and got the US settlement money (higher than Canadian).