Buyback w/ no money

Discussion in '2012-2016 VW Passat TDI forum' started by Mickeynpluto, Feb 11, 2017.

  1. Mickeynpluto

    Mickeynpluto New Member

    Joined:
    Feb 11, 2017
    Messages:
    2
    Car:
    2014 Passat TDI
    Location:
    Cleburne TX
    I just received my final offer from VW settlement. I'm not receiving any money from the settlement! I owe roughly $26K on my car. They're valuing my 2014 Passat TDI SEL for $19K because of my mileage. They're using my "restitution" money to cover the mileage overage... all $6971 of my restitution. When I filed the paperwork I had 60K miles and my final payoff I will get $222.oo. for a $40K car. I now have 70K miles on it so there goes my $222! Is anyone else having this issue? Does anyone know of some solutions?
     
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  2. xeno555

    xeno555 Well-Known Member

    Joined:
    Dec 12, 2011
    Messages:
    1,671
    Car:
    2012 TDI Tech Package 6mt
    Location:
    Mile High
    Mods:
    Malone Stage II. Rawtek 3" from Turbo to Tail. Slammed on Koni. TSW Nurmburg Rims. Whiteline Sway & Ends. Panzer Plate.
    Looks as though your upside down on that vehicle. Also consider that your near major maintenance (TB,Clutch?,WP).

    Are your the original owner?
     
  3. Mickeynpluto

    Mickeynpluto New Member

    Joined:
    Feb 11, 2017
    Messages:
    2
    Car:
    2014 Passat TDI
    Location:
    Cleburne TX
    Yes, I am the original owner. They're penalizing my for my mileage. I have over 60K (70K by the time the buyback happens) and they're estimating I should only have 35K. I think the mileage penalty is a scam, I bought the car to drive roughly 500-700/week, how was I suppose to know that in 2 years time I would be in this situation???? I was curious if anyone else has the same problem and what their outcome/solution was?
     
  4. Ol'Rattler

    Ol'Rattler Well-Known Member

    Joined:
    Apr 24, 2011
    Messages:
    782
    Car:
    06 TDI Jetta
    Location:
    Marysvile, WA.
    No, you don't have a $40,000 car. With depreciation and mileage you have a $19,000 car and that is what the numbers are based on. My best guess is that they should give you a check for $19,000 and let you deal with the $7,000 you would still owe the finance company after you gave them the $ 19,000 check.

    No, they are not "scamming" you for mileage.

    If you had totaled the car, Insurance would have only given you the KBB value and you would have to come up with the rest to retire your loan.

    My only advice would be not to carry more dept than a car is worth, but hey, folks do it all the time and will roll what is still owed on there trade into the loan for the new car. Not saying that what you did, just possible.
     
    Last edited: Feb 21, 2017

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