Recalls are a must before selling your vehicle!
Outstanding Recalls...do they concern you as a buyer? Do they hurt the value of your vehicle’s value as a seller? Performing a recall repair should be on the top of every vehicle owner's list, especially if they are planning to sell. The first and main crucial reason to have a recall completed is for safety, even if you’re not planning to sell. Recalls are issued when a vehicle or its components have a defect that could pose a safety risk. Completing a recall repair will prevent potential accidents and injuries from the faulty part. Secondly, it will help maintain the vehicle’s value. Any car, truck, van or SUV with an outstanding recall may be perceived as less reliable, affecting its resale value.
The lead time & expense of a factory recall can include various expenses such as holding costs of inventory, additional transportation costs for deliveries and labor. Just the time involved in scheduling a recall, never mind the wait for an appointment at the franchised dealership are mind boggling. Some recalls require parts that are on backorder (not even available) for months! This expense is a significant consideration to keep in mind when scheduling the recall repair as a seller, even though most recalls are typically performed free or charge you are going to get pressured into a lot more repairs that cost a considerable amount of money at $150 per hour labor rates !!! Procrastination could be a lack of awareness about the recall, taking time out of a busy day to schedule the repair and lastly, a lack of urgency. If the issue is minor or the vehicle seems to be functioning normally, some may be less concerned.
Safety concerns are paramount. If a vehicle has a known defect that could pose a safety risk, reselling it without addressing the recall could lead to accidents or injuries, possibly exposing the seller to legal liabilities. Failing to address recalls can impact resale value and marketability. Future buyers may be hesitant to purchase a vehicle with unresolved recalls. A seller would not be the vehicle’s original owner, therefore, the manufacturer would not have a record of ownership. Sellers choose to buy a used vehicle from an individual for a specific reason. Most prefer not to engage with a franchised dealership initially, so they certainly wouldn’t want to deal with one for a factory recall that wasn’t theirs in the first place.
It all goes back to SAFETY! If a resold vehicle is involved in a crash due to a factory recall that has not been completed, several consequences could occur. The seller could be held liable for selling a defective vehicle. This could lead to legal repercussions, including financial woes and potential lawsuits. If the recall is discovered after the crash, it could complicate insurance claims and coverage. Insurance companies may be hesitant to cover damages related to a recall issue, leaving the buyer responsible for repair costs. Overall, take care of all factory recalls NOW!
