Beware Toyota Dealer Buy Back program

I received a letter from a local Toyota dealer that reads (in part):

Ira Toyota of Milford is in immediate need to acquire several pre-owned 2003 Toyota Corollas in order to fill specific requests for these high demand vehicles. Our records indicate you possibly own one of these vehicles and our Managers will buy back your 2003 Toyota Corolla. If you received this letter we want your vehicle.

What does this mean to you? We would like to make you an offer to exchange your 2003 Toyota Corolla for any new or used 2007 or 2008 vehicle. With factory authorized incentives supporting the Buy Back program we feel confident that you can make this exchange with little or no out of pocket expense and a monthly payment that fits your budget.

.....

How much more will your 2003 Toyota Corolla be worth this weekend? Stephen Sherlock, if you would like more details on this offer or more information on how much more your 2003 Toyota Corolla will be worth this weekend, simply go to your personal web page at (link omitted). Your access code is (code omitted). Yours may be a vehicle for which we pay full retail.

Sounds too good to be true?
It was.

Now, I had used this dealer for service on said vehicle so they could have known all they needed to from their service records. In order to schedule the service, even the VIN was input. The scheduling process was slick and well done. So why the hesitancy with

Our records indicate you possibly own one of these vehicles

When I was enticed by the personal web page, I was more than disappointed in having to provide them information that if they had used their service records (which I had provided them) I would not have had to provide them again.

As the web query completed, I received the auto reply. I also received shortly thereafter a personalized email indicating a follow up phone call was coming and it too arrived as promised. They do show good signs of knowing how to do service.

I made an appointment to see of I would obtain "full retail" value. I did check the Kelly Blue Book online to prepare myself with the trade-in value, the private sale value and the "full retail" value.

After the perfunctory test drive, during which the deal and offer was being put together, I returned to the dealer to be disappointed with the offer. Suffice to say it did not include

little or no out of pocket expense

nor include anything close to

" full retail"

At which point, I thanked them for their time, there was no need to continue to waste mine.

If you do get such an offer, please check your Kelly Blue Book values!