Should I buy my Passat TDI off lease

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computerman3333

Active member
Joined
Jul 1, 2016
Location
Denver, Colorado
TDI
2013 Passat SE
My lease expired three months ago an I have been paying month-to month ever since (2013 Passat TDI SE, Black, flawless, 48K miles). My original residual was $15,380 but has now decreased by $305 per month. This is a cheap car to buy off lease now as it's like $14,465 plus tax.

Options:
1. Turn it it anytime and receive $3,200
2. Buy it and wait for fix and then receive $3,200
3. Buy it and if there is no fix collect close to $23,000 as a buyback.
(I do believe that i will become an owner and entitles to that if there is no fix after close to 2 years)

This is such a gamble. I just don't know the chance of their not being a fix. I would only choose option 3 for the hopes of no fix as I'm ready to get a new car now. If there is a fix, i would collect the $3,200 then sell but have no idea what the value is now or will be.

What would you all do? Any advice?
 
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F

Freeze Plug

Veteran Member
Joined
Oct 27, 2012
Location
CT
TDI
Turd Sandwich
this is what you should do:

1) buy the car
2) leave it out in a hail storm
3) collect $7000 from insurance and not repair the hail damage
4) let VW buy it back in 2018
 
A

Airpizz6

Veteran Member
Joined
Nov 17, 2015
Location
Bel Air, MD
TDI
Now TDI-free, but there now is a 15 MB E250 BT in the driveway
computerman3333 said:
My lease expired three months ago an I have been paying month-to month ever since (2013 Passat TDI SE, Black, flawless, 48K miles). My original residual was $15,380 but has now decreased by $305 per month. This is a cheap car to buy off lease now as it's like $14,465 plus tax.

Options:
1. Turn it it anytime and receive $3,200
2. Buy it and wait for fix and then receive $3,200
3. Buy it and if there is no fix collect close to $23,000 as a buyback.
(I do believe that i will become an owner and entitles to that if there is no fix after close to 2 years)

This is such a gamble. I just don't know the chance of their not being a fix. I would only choose option 3 for the hopes of no fix as I'm ready to get a new car now. If there is a fix, i would collect the $3,200 then sell but have no idea what the value is now or will be.

What would you all do? Any advice?
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I suggest you read the relevant portion of your settlement booklet VERY CAREFULLY! If you buy out your lease after 28 Jun of this year, you are still an elegible lessee, not an eligible owner. You CANNOT get the buyback. Stop dreaming.

Now if you bought it, sold it to a friend, he could sell it back to VW for the post scandal purchase amount. Might be able to make a few dollars.
 
C

computerman3333

Active member
Joined
Jul 1, 2016
Location
Denver, Colorado
TDI
2013 Passat SE
Page 17 #39 What happens if it turns out that the EPA does not approve a modification for my car? What are my options?

.... you may then choose a buyback?

I spoke to VW and they confirmed that once i buy the car off lease I would be eligible for a buyback IF THERE IS NO FIX.

They may have been wrong but that is what I was told.
 
A

Airpizz6

Veteran Member
Joined
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Location
Bel Air, MD
TDI
Now TDI-free, but there now is a 15 MB E250 BT in the driveway
As I said, read the documents yourself. Don't listen to VW salesman. The documents clearly say you will not be an eligible owner if you buy your lease out after 28 Jun. I don't know if the fact that you are month to month makes any difference.
 
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DanB36

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Location
Savannah, GA
TDI
2014 Q5 Prestige TDI, Monsoon Gray
FTC Consent Order, pages 5-6:
“Eligible Lessee” means . . . (3) the current owner of an Eligible Vehicle who had an active lease issued by VW Credit, Inc. as of September 18, 2015 and who acquired ownership of the previously leased Eligible Vehicle at the conclusion of the lease after June 28, 2016.

“Eligible Owner” means the registered owner or owners of an Eligible Vehicle on June 28, 2016, or the registered owner or owners who acquire an Eligible Vehicle after June 28, 2016, but before the deadline to submit a claim under the Settlement Program, except that the owner of an Eligible Vehicle who had an active lease issued by VW Credit, Inc. as of September 18, 2015 and purchased the Eligible Vehicle previously leased by that owner after June 28, 2016 shall be an Eligible Lessee.
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The Class Action Settlement has the same definitions.

The problem is that the buyback is only available to Eligible Owners, not to Eligible Lessees. The only remedies that are available to Eligible Lessees are the Lease Termination or the Emissions Modification, both of which pay the Lessee's compensation. That would seem to provide a very strong disincentive for lessees to buy out their leases.

Edit: I can't speculate as to what VW may or may not offer in the future, if/when they announce that there will be no approved emissions modification. I kind of doubt the folks at the call center really know either, but I suppose it's possible. But based on the current documents, the above discussion is accurate.
 
A

Airpizz6

Veteran Member
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Location
Bel Air, MD
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Now TDI-free, but there now is a 15 MB E250 BT in the driveway
That is true if you are an eligible owner and signed up for the fix which never materializes. But under the settlement, you will not be considered an eligible owner. You might want discuss with the VW support team.
 
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computerman3333

Active member
Joined
Jul 1, 2016
Location
Denver, Colorado
TDI
2013 Passat SE
It all makes sense. But there will be a lot of us out there who purchased our cars off lease that will be in a situation where there is no fix. We will expect restitution. and at that time $3,200 and a useless car that worthless won't be an option. VW will have to take this back and at a premium.

I just wish we all know they possibility of there being a fix. After a year of waiting it's frustrating.
 
A

Airpizz6

Veteran Member
Joined
Nov 17, 2015
Location
Bel Air, MD
TDI
Now TDI-free, but there now is a 15 MB E250 BT in the driveway
If they bought out their lease between 18 Sep 15 and 28 Jun 16, they are covered. Right now you are not.
 
D

DanB36

Veteran Member
Joined
Jul 13, 2003
Location
Savannah, GA
TDI
2014 Q5 Prestige TDI, Monsoon Gray
computerman3333 said:
VW will have to take this back and at a premium.
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Under the existing court order, VW has no such obligation*. However the one thing that could save you is that you'll have a new opportunity to opt out. If enough lessees opted out and filed their own class action, they/you might get some relief that way.

* At least, as far as I can tell. I didn't lease my car, so I haven't paid as much attention to those parts of the settlement documents, but I haven't been able to find anything like this.
 
C

computerman3333

Active member
Joined
Jul 1, 2016
Location
Denver, Colorado
TDI
2013 Passat SE
I'm best to drop it off this weekend and just get the 2016 Madza CX-9 that i truly want. My lease already expired so i can drop anytime. I shouldn't have to wait for any special turn-in schedule.
 
Sti581

Sti581

Well-known member
Joined
Aug 30, 2012
Location
Texas
TDI
2016 A6 TDI Prestige S-line
computerman3333 said:
I'm best to drop it off this weekend and just get the 2016 Madza CX-9 that i truly want. My lease already expired so i can drop anytime. I shouldn't have to wait for any special turn-in schedule.
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Better yet sell it to me. As I wouldn't mind buying a Passat tdi again as I'm giving up my Jetta lease back to them.
 
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computerman3333

Active member
Joined
Jul 1, 2016
Location
Denver, Colorado
TDI
2013 Passat SE
Sti581 said:
Better yet sell it to me. As I wouldn't mind buying a Passat tdi again as I'm giving up my Jetta lease back to them.
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Then I'd loose my benefit. None are listed for sale online anywhere in my area. I wish I knew their value assuming it was fixed with no negative effects.
 
Sti581

Sti581

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Location
Texas
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2016 A6 TDI Prestige S-line
No not at all. You will still get your $3200 and I'll be able to buy it from you. Let me know. It's on the portal and in the book. You would be an elidgible leasee seller. Which will get you the money you still stated.
 
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Airpizz6

Veteran Member
Joined
Nov 17, 2015
Location
Bel Air, MD
TDI
Now TDI-free, but there now is a 15 MB E250 BT in the driveway
Sti581 said:
No not at all. You will still get your $3200 and I'll be able to buy it from you. Let me know. It's on the portal and in the book. You would be an elidgible leasee seller. Which will get you the money you still stated.
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Don't try to confuse the dude. The term 'eligible seller' effectively ended last month.
 
S

swampyankee

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Location
NE
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Passat SEL
computerman around now would be the time you mention the insurance fraud..... you know where you collected and spent the money from the insurance company. The money that was paid to you to fix the damage from the hail storm?

From the looks of things you are still just as helplessly trapped as you were before. At some point you are going to have to either pay to get the car fixed, or turn it in at lease end and pay the damages then. Love it!
 
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computerman3333

Active member
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Jul 1, 2016
Location
Denver, Colorado
TDI
2013 Passat SE
swampyankee said:
computerman around now would be the time you mention the insurance fraud..... you know where you collected and spent the money from the insurance company. The money that was paid to you to fix the damage from the hail storm?

From the looks of things you are still just as helplessly trapped as you were before. At some point you are going to have to either pay to get the car fixed, or turn it in at lease end and pay the damages then. Love it!
Click to expand...

You comments are not warranted. I fixed the car last month. Do no speak to me again. I'm not interested in your words. My car is in perfect condition.
 
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swampyankee

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Jun 17, 2016
Location
NE
TDI
Passat SEL
Your car was damaged by hail, and according to you it was fixed. It cannot be in the condition you describe as perfect lol.....

I'm guessing you haven't gotten it fixed. If you had you wouldn't be keeping the car now, on a month to month lease after the term expires.

Gotta give it to you. Entertaining
 
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computerman3333

Active member
Joined
Jul 1, 2016
Location
Denver, Colorado
TDI
2013 Passat SE
swampyankee said:
Your car was damaged by hail, and according to you it was fixed. It cannot be in the condition you describe as perfect lol.....

I'm guessing you haven't gotten it fixed. If you had you wouldn't be keeping the car now, on a month to month lease after the term expires.

Gotta give it to you. Entertaining
Click to expand...

Yes, I had it fixed last month for $4,000. They did an amazing job. I am month to month as I decide on my next car. I considered buying the Passat buy am now leaning towards a 2016 Mazda CX-9.

Dude, you are very immature. Grow up.
 
A

Airpizz6

Veteran Member
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Location
Bel Air, MD
TDI
Now TDI-free, but there now is a 15 MB E250 BT in the driveway
Time to lock this thread before it goes all to 'hail'.
 
S

swampyankee

Veteran Member
Joined
Jun 17, 2016
Location
NE
TDI
Passat SEL
You are very entertaining and I look forward to reading your posts. Keep it up!

I bought my replacment months ago :)
 
J

john-dude

Member
Joined
Aug 29, 2016
Location
San Francisco, CA
TDI
2013 Golf
To buy the car at end of your lease, I believe the purchase is based on current value, with scandal the value should be much less right? We have a 2013 Golf, lease is up next June and we will probably be 20k over in mileage :( We want to keep it.;)
 
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