Early VW buyback offers could cost you

Lately, we’ve been hearing from people who have gotten offers for their VW or Audi 2.0 liter diesel cars. Recent offers. Sometimes even using the term “buyback” – which isn’t exactly normal car trade-in language. In fact, the judge in the VW settlement, U.S. District Judge Breyer, mentioned these offers in a hearing today, calling these kinds of offers “deceptive, adversely affecting the rights of claimants.”

What’s the problem? Selling your VW TDI car now might cost you money in the long run. These cars are part of VW’s settlement with the FTC, giving up to $10 billion to owners and lessees. That means VW will buy back affected cars for at least the current replacement cost and often more. You can find out how much you’ll get at VWCourtSettlement.com. At the site, enter your car’s vehicle identification number (VIN) and get your total. Or you can call 844-98-CLAIM and ask.

But VW and Audi aren’t yet buying back cars. Buybacks could start by late Fall, 2016. And environmental regulators haven’t yet approved a modification to the cars, which could let people who own or lease get their car modified and get money in compensation. So, right now, there’s nothing to do besides going to VWCourtSettlement.com, finding how much money you could get, and selecting your preference for a buyback or modification. (Which you actually don’t have to do now. You have until September 1, 2018 to submit your claim.)

So, what if you get an offer to buy your car now? If you can, wait for the buyback. If you can’t, be sure you have the bottom line in mind. What’s your buyback amount from VW? And what’s the offer? Can you live with that difference? Know this: whoever buys your VW or Audi 2.0 liter diesel car now will take that buyback and make the extra money you’d miss out on. Maybe that’s OK with you – but be sure it is before you sell.

If you see these offers, whatever you decide to do about them, let us know. Your story makes a difference.

Tagged with: car, settlement
Blog Topics: 
Money & Credit

Comments

Nissan has called me back 2xs for a buyback on my 2014 Sentra,& they would let me walk off with a new 2016 with no down payment. I replied back to both callers telling them I am not interested, Nissan forces you to purchase $6,600. in options, they will not refund because the owner of the store pays for this stuff to be done. 1st off the charges that I was forced to pay on the options are not on the car that was purchased. 2nd we just purchased a 2015 Hyndai and we were not forced to pay all those options. so I agree beware on the buybacks!

Hey guys heads up. Some of the people on here are paid by vw Corp to keep you from doing the buyback. So do not be led astray. Check out the buyback sight to see the money you are entitled to. It is the best choice. I haven't seen to many with over excessive miles to limit the car sales.

The VW dealership sold me my car after Sep18, so now they say I don't qualify for buyback or any settlement. Crooks. There was no mention of any problem with emissions when they sold it to me.

It's important to get the most up to date information from VWCourtSettlement.com.

If you are a current of former owner or lessee of an eligible car, go to VWCourtSettlement.com to check your eligibility.

There are attorneys jumping all over this. You may want to call and speak with them about your specific situation. If you bought it at a VW dealer and they didn't mention the issue, you shouldn't be left out.

It truly depends on what kind of car you bought. This is not an across the board buyback and it is not a dealer buyback, but a manufacturer. Submit your claim if you qualify.

What year and car you buy? What would you sell it for if someone wanted to buy it?

I've received calls on my 2007 Kia Sorrento from people using the term buy back. It's an older car. Why would they do that? I'm happy with it so far. I've had it 2 1/2 years.

i love usa good to be good thing good

The VW buyback is a joke. For most people the money that they are offering you will only payoff the loan which then leaves you with the 5k after the buyback. So you sell them back your car, they pay off your loan and you have 5k to replace that vehicle with. If you are in the position as I am, you can not afford to do it. Having lost my job 2 years ago, I don't have an income to get a loan from any bank. At best I would have to use a buy here pay here an day the extremely high interest rate. They are making it so you will keep the car and work with the fix.

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