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Reaquired vehicle process questions


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Hello all. I apologize in advance if this is the wrong forum to post this in.

Ford has approved the re-aquisition of my 2019 Edge Titanium because of a transmission issue. I've been researching replacement cars and I've settled on the 2020 Ford Escape Titanium when it releases this fall (since according to most, the RAV process takes a LONG time). Fully loaded, the MSRP of the Escape is about $4,500 less than the Edge that I'm turning in. How does RAV typically handle these situations?

 

 

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Sorry to hear about your edge, I have a 2019 as well and I like it a lot more than I thought I would. Your Rav situation Depends if they're doing a buyback or a substitution of collateral. If they're doing substitution of collateral unfortunately your SOL on the extra money spent on the Edge. You'll be responsible for transfer fees from the dealership and that's it. If they are doing a buy back then they will give you back MSRP minus a mileage adjustment minus any loan payoffs. You'll receive a check for the balance after that. The process is long and your case will probably be transferred to a few different people but if you stay on top of them and the dealer then you should get it to move fairly quickly. I'm the lucky one who gets to handle them at my dealership so if you have any questions please feel free to reach out.  

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  • 4 weeks later...
On 8/9/2019 at 8:17 PM, Alexk said:

Sorry to hear about your edge, I have a 2019 as well and I like it a lot more than I thought I would. Your Rav situation Depends if they're doing a buyback or a substitution of collateral. If they're doing substitution of collateral unfortunately your SOL on the extra money spent on the Edge. You'll be responsible for transfer fees from the dealership and that's it. If they are doing a buy back then they will give you back MSRP minus a mileage adjustment minus any loan payoffs. You'll receive a check for the balance after that. The process is long and your case will probably be transferred to a few different people but if you stay on top of them and the dealer then you should get it to move fairly quickly. I'm the lucky one who gets to handle them at my dealership so if you have any questions please feel free to reach out.  

Hey Alexk.  We were told by RAV that they had all of the information that they needed from me and the dealership and they've turned over my case to "formulation to crunch the numbers." How long does forumation process usually take? Should I call my RAV rep occasionally to get the status? Weekly perhaps?

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