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Toyota Repair/car price


I need help in determing the price of a car.

I bought a Toyotall Corolla for $18,000 in 2013.
monthly payment is $400/month.
I pay off 18 months already. That would add up to $7200. I am giving the car to my parent, They will continue to pay off the payments that are left. But of the 18 months that I pay for the car and used it,

1. How much do I hope that my parent owe me for the 18 months payment? I am thinking $7200

2. If the car is payoff in 4 years.  How much will the car be worth to sell at (max) price or what the Toyotall Corolla would be worth?

The rule of thumb for Toyotas is that after 5 years they are worth about 50% of what is was sold for. Usually you do not get paid for what you have already paid due to depreciation,  so $7200 is unreasonable, at this time the value of the car is approximately $14000, so the difference would be $4000, this is depreciation, so if they offer you #4000 plus take over payments that would be more than fair.  

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Ted Ritter


I have more than 28 years experience as toyota technician, I will be able to answer most questions related to the Toyota product line up to the present year models,I am located in the US but welcome questions from other regions of the world. When asking a question please provide specific information: year,model, engine,transmission information. Provide as much information as possible including a brief repair history if possible. I have been a volunteer here for more ten years an have answered over 16,000 questions helping Toyota owners with their problems and save thousands of dollars without any compensation, some of my answers are published on many other websites including google and various automotive forums. DONATIONS ARE VERY MUCH APPRECIATED, IF YOU HAVE RECIEVED HELPFUL INFORMATION PLEASE MAKE A DONATION. AS OF TODAY (JULY 22, 2014) ALL REQUESTED GRAPHICS, ILLUSTRATIONS, DIAGRAMS, PHOTOS, WILL REQUIRE THE MINUMUM DONATION UP FRONT.


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