In the largest buy back action in U.S. history, the National Highway Traffic Safety Administration (NHTSA) and Fiat-Chrysler America (FCA) have agreed that, in addition to paying a $105 million fine, FCA will offer to buy back 500,000 RAM pickup trucks from consumers. The value FCA has to pay consumers for their vehicles is extremely consumer friendly - the original purchase price plus 10 percent, minus depreciation. These values are likely more than the owner could get from a dealer in a standard trade-in valuation.
In looking at the models and years covered by this buyback, it seems that the ages of these vehicles eligible for buy backs range from 2008-2012. An example value provided by the Associated Press, is that “a 2010 Dodge Ram 1500… could fetch $20,000 in a dealer-trade-in, assuming the truck has 60,000 miles on it and is in ‘good condition.’” The article also states that if Chrysler had to buy back even a quarter of the trucks at issue, it could spend $2.5 bi...
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