With many consumer goods, purchasing an item pre-owned or used can be infinitely more affordable than purchasing an item brand new. People often think of vehicles when thinking of product depreciation before resale, but firearms may also be subject to a notable loss of value after purchase by the initial consumer. Consumers can and do pay a premium for a brand new firearm directly from the manufacturer.
Much like vehicles, firearms have a base price below which they are unlikely to dip, even in secondhand sales or at auction. Buyers will probably pay between 50-75% of the original retail price when purchasing a used firearm. In other words, buying used firearms can make gun ownership much more affordable for Montana residents on a budget.
Going to a gun show or other resale shops or events could be an opportunity to purchase a vintage or used firearm for a very reasonable price. However, the risk also exists that you could wind up buying a dangerously defective firearm without realizing the potential danger.
The Remington Model 700 has been subject to recall and lawsuits
The Model 700 has historically been one of the most popular Remington Arms products. Unfortunately, the manufacturer knowingly installed triggers in these devices for more than four decades that put consumers and gun owners at unnecessary risk.
Multiple individuals who suffered injuries or lost loved ones due to defective Remington Model 700 triggers filed a class-action lawsuit against the manufacturer that the courts settled last year. Under the terms of the settlement, the company has an obligation to replace defective triggers on existing weapons, provided that consumers bring a claim against the company within 18 months of the judgment.
There is still some time for individuals to bring a claim for trigger replacement, but clearly simply replacing the faulty mechanism in the firearm will not undo the damages. Additionally, given that the recall is voluntary, Remington owners could easily sell a gun with a defective trigger to someone else on the secondhand market without repairing or replacing it. You should ask the owner for documentation about the trigger replacement at the time of purchase or take steps to have it replaced.
Those injured or who have lost others have rights that may extend beyond the settlement
Obviously, the replacement of a faulty part that could cause fatal injury doesn’t undo the damage a defective firearm could cause. Given that there are more than 7 million guns with production dates going back to the 1940s involved in this settlement, Remington firearm owners should take care to make sure their firearm is safe and compliant.
The Model 700 is not the only firearm involved in the recall. Those who have experienced the damage a defective firearm can cause could take part in future lawsuits against the manufacturer, who has multiple pending cases currently going through the courts related to their manufacturing mistakes and potential liability.