If you total it, or incur a mechanical failure outside of warranty that renders it un-drivable...you are out $$. There is a risk continuing to drive.
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There was a risk when I got out of bed this morning. It's interesting how it pops up in these threads that "unless you do the buyback ASAP, your car is in great peril."
Let's examine these:
1. First, I will preface my statement that if one totals any car less than 15 years old, some loss is inevitable; it's a given. BUT: the idea of a major loss from a total loss on one's Dieselgatemobile goes back to Summer '16, when there WAS a window whereby totalling a car out resulted in only the insurance settlement, and nothing else.
That is no longer true; do not believe that. The window closed (in September, I believe), and now a total loss means that the owner can collect BOTH the insurance settlement and the compensation package (greater than or equal to $5100). Odds are good in getting about the same as a straight buyback. So much for that risk. Upon close examination, it's not that great.
2. The second item is real.
The question that must be asked: is it probable? All the "bad new threads" in the forums might make some people believe that these cars are having all kinds of major mechanical problems. The Internet attracts bad news like a dead zebra on the Serengeti attracts spotted hyænas. I suspect the incidence of most of these things is quite low, and, lacking actual data, I go by experience. I've been driving regularly for just about 50 years, and in that time we've owned 15 or so vehicles. In that time, we have had our share of repairs, but NO engine failures, NO transmission failures, only a few repairs in four figures. And most of our cars were bought well used (70-80K), and well driven (150-180K). So, how great of a risk exists for someone running in this second category? As someone else remarked in another thread, a person will likely save as much money driving their car to the end of the buyback period (as we intend on doing) as they would spend on a major repair.
So— I just can't take these risks seriously. They're real, but the probability is so low, I'll take my chances.