NYT’s Wheels blog reports that Toyota has begun a program to buy back 813,000 defective 1995-200 Tacoma trucks and could cost almost $100 million.  These trucks have frames so badly rusted that they cannot be repaired.  

The warranty is automatically extended on these lemon cars to 15 years (from the time they were new) and unlimited mileage.  On the buybacks, Toyota will pay 1.5 times the suggested retail price for a vehicle in excellent condition as calculated by Kelley Blue Book.

According to the Wheels blog

The program is good for consumers because Toyota is willing not just to buy back vehicles, but to pay much more than book value, said Clarence Ditlow, the executive director of the Center for Auto Safety. “Traditionally, when manufacturers have bought back older vehicles they have used the Kelley Blue Book straight price,” Mr. Ditlow said. “Taking care of customers is how Toyota gets to No. 1.”

“These vehicles may not have been properly treated in the plant with the undercoating that they use,” said Sam Butto, a Toyota spokesman.

Mr. Butto said he was not sure how much the program would cost, but it is “among the most aggressive programs we have put together in trying to take care of our customers.”

On behalf of all lemon owners we applaud Toyota for its efforts. In the days when corporations are sqeezing the little guy, it’s remarkable that a company would choose to do a recall so comprehensive. Good for you, Toyota.