1. Attachments are working again! Check out this thread for more details and to report any other bugs.

What is the National Repurchase Program

Discussion in 'Gen 4 Prius Main Forum' started by oz10k, Feb 3, 2018.

  1. oz10k

    oz10k New Member

    Joined:
    Feb 3, 2018
    7
    5
    0
    Location:
    Chicago burbs
    Vehicle:
    2018 Prius
    Model:
    Two
    I'm shopping for a used Prius. On a Toyota site that searches for information based on VIN, as factory installed equipment I'm seeing:

    H4 National Repurchase Program
    H8 Fleet Credit

    What is the National Repurchase Program? I've done some googling, but I don't quite understand what I'm finding.

    Thanks,
    Ron
     
  2. Prodigyplace

    Prodigyplace Senior Member

    Joined:
    Nov 1, 2016
    11,696
    11,317
    0
    Location:
    Central Virginia
    Vehicle:
    2017 Prius
    Model:
    Two
  3. Elektroingenieur

    Elektroingenieur Senior Member

    Joined:
    Jan 8, 2017
    2,515
    3,253
    9
    Location:
    California
    Vehicle:
    2016 Prius
    Model:
    Three Touring
    It means the vehicle was sold to a car rental company with the understanding that Toyota would buy it back later. Auto Rental News explains:

    Offered by auto manufacturers to car rental companies, repurchase programs are agreements by the manufacturers to buy back vehicles from the car rental company (RAC) for a set monthly depreciated value — provided the vehicle is returned in the specified time period and in the contracted condition.​

    This is a normal part of the fleet and rental-car business, and it doesn’t imply anything is wrong with the vehicle. It’s not a lemon law or warranty buyback, or anything like that.
     
    RCO and Prodigyplace like this.
  4. oz10k

    oz10k New Member

    Joined:
    Feb 3, 2018
    7
    5
    0
    Location:
    Chicago burbs
    Vehicle:
    2018 Prius
    Model:
    Two
    Got it. Thank you very much!
     
    RCO likes this.
  5. bisco

    bisco cookie crumbler

    Joined:
    May 11, 2005
    107,571
    48,862
    0
    Location:
    boston
    Vehicle:
    2012 Prius Plug-in
    Model:
    Plug-in Base
    what does toyota do with them?(n)
     
  6. RRxing

    RRxing Senior Member

    Joined:
    Jul 7, 2009
    2,516
    1,789
    0
    Location:
    NEPA
    Vehicle:
    Other Hybrid
    Model:
    Limited
    Sell them to unsuspecting rubes by not disclosing that they were once rental cars? :rolleyes:
     
    RCO and bisco like this.
  7. Since2002

    Since2002 Senior Lurker

    Joined:
    Nov 12, 2011
    936
    1,097
    0
    Location:
    Duluth, GA
    Vehicle:
    2006 Prius
    Model:
    N/A
    Yikes, is that what is meant by certified pre-owned? :eek:
     
    RCO likes this.
  8. Elektroingenieur

    Elektroingenieur Senior Member

    Joined:
    Jan 8, 2017
    2,515
    3,253
    9
    Location:
    California
    Vehicle:
    2016 Prius
    Model:
    Three Touring
    No; “certified pre-owned” implies nothing about the source.

    For example, any used Toyota or Scion can be a Toyota Certified Used Vehicle, if the selling dealer chooses to incur the cost, as long as the vehicle was originally sold by Toyota Motor Sales, U.S.A., and it meets the age, mileage, condition, and other program requirements.
     
    RCO likes this.
  9. bisco

    bisco cookie crumbler

    Joined:
    May 11, 2005
    107,571
    48,862
    0
    Location:
    boston
    Vehicle:
    2012 Prius Plug-in
    Model:
    Plug-in Base
    maybe they go to auction.
     
    RCO likes this.
  10. oz10k

    oz10k New Member

    Joined:
    Feb 3, 2018
    7
    5
    0
    Location:
    Chicago burbs
    Vehicle:
    2018 Prius
    Model:
    Two
    FYI. I'm looking at several that were bought by dealerships at auction. Some are being sold as certified pre-owned others are not. Mileage for 2017s is all over the place, from as little as 4,100 to over 35,000!
     
    bisco likes this.
  11. Since2002

    Since2002 Senior Lurker

    Joined:
    Nov 12, 2011
    936
    1,097
    0
    Location:
    Duluth, GA
    Vehicle:
    2006 Prius
    Model:
    N/A
    I guess I should have been more wordy, I meant that it never occurred to me that certified pre-owned includes rental cars, I assumed those got auctioned off somewhere else. I figured certified pre-owned meant trade-ins by the original owner (okay to be wordy I understand the rental car company would be the original owner, I am referring to private owners.) I have never bought a certified pre-owned car so I guess I just have had fanciful ideas about it based on the advertising