wilcharl
Veteran Member
- Joined
- Aug 21, 2010
- Location
- Northern Virginia
- TDI
- 2010 Jetta TDI BOUGHT BACK 23 NOV 16. Now owner of 2016 Jeep Cherokee
Folks:
I just completed my buyback and I will try to give you as best story I can and answer any questions about the buyback experience.
I uploaded my documents the first full day the portal was open (a Saturday) and was NOT one of the first getting their documents approved. Nonetheless after having them approved, I was quick to get my offer (I had no lien and was the sole owner) and within an hour of getting the offer I had it notarized. The day the calendar opened up I selected today (the first available buyback day)
I got to the dealership, Stohlman VW , (Northern VA) almost an hour early. They were excited to see me and said the settlement specialist was there waiting. I was his first customer and he was excited as me. I mentioned that I may be the first in the country and he said "you might be right" Another settlement specialist from another dealership was shadowing him during the process. Everything is conducted on a Samsung tablet. I presented my documents (signed PoA, mileage disclosure ) and keys. He entered the information into the tablet and then we walked out to my vehicle. He started the car and took a picture of the car with the engine running (tach showed idle rpm) I mentioned removing my plates and he said the dealers ambassador would handle that step (more on that later) He took a few more pictures and had me move the car in order to take better pictures He then had me check one last time to make sure all my stuff was out of the car and that was it.
We went back in the dealership and he said I would not need to sign the title since the PoA covered that.
Once he completed the transaction I received an emailed receipt that everything was complete. He said "in his training there were a lot more steps he expected" but nonetheless it was complete. I asked about the EFT and he was shocked because he was told in training that the EFT would be completed by the customer before they arrived. He contacted a support number and it was quickly answered. They indicated that once the process was completed and the email receipt for the vehicle was generated, this triggered the EFT 3rd party (I am assuming its Chase) to send me an email within 24 hours requesting my bank information . At that point the 3 day clock starts.
I asked about the check. He said if the check option is selected, then your handed a paper check at the transaction (if your mileage is equal to the window you entered when you reserved your appt)
If there is a mileage discrepancy affecting the buyback amount, he is directed to write VOID on the check and mail it back to the VW Fatherland for a new check to be mailed to you. He agreed with me that the EFT was the better option as many banks hold large checks for indefinite periods , checks can get lost etc...
He then introduced me to the "ambassador". The ambassador took my registration from me and had another ambassador remove the plates. He indicated to the buyback rep that he needed him to do something before he could take the car into inventory. Once he did that he acknowledged he had the car in his system and they returned with my plates.
He then made small talk about what was "next" and I told him I already had a new car I bought two weeks ago. He said well okay I guess your set .
We shook hands and the settlement specialist walked me out and thanked me again and again for it going so smooth.
He said I was his one and only buyback scheduled today so it looks like they are starting out slow
.
I just completed my buyback and I will try to give you as best story I can and answer any questions about the buyback experience.
I uploaded my documents the first full day the portal was open (a Saturday) and was NOT one of the first getting their documents approved. Nonetheless after having them approved, I was quick to get my offer (I had no lien and was the sole owner) and within an hour of getting the offer I had it notarized. The day the calendar opened up I selected today (the first available buyback day)
I got to the dealership, Stohlman VW , (Northern VA) almost an hour early. They were excited to see me and said the settlement specialist was there waiting. I was his first customer and he was excited as me. I mentioned that I may be the first in the country and he said "you might be right" Another settlement specialist from another dealership was shadowing him during the process. Everything is conducted on a Samsung tablet. I presented my documents (signed PoA, mileage disclosure ) and keys. He entered the information into the tablet and then we walked out to my vehicle. He started the car and took a picture of the car with the engine running (tach showed idle rpm) I mentioned removing my plates and he said the dealers ambassador would handle that step (more on that later) He took a few more pictures and had me move the car in order to take better pictures He then had me check one last time to make sure all my stuff was out of the car and that was it.
We went back in the dealership and he said I would not need to sign the title since the PoA covered that.
Once he completed the transaction I received an emailed receipt that everything was complete. He said "in his training there were a lot more steps he expected" but nonetheless it was complete. I asked about the EFT and he was shocked because he was told in training that the EFT would be completed by the customer before they arrived. He contacted a support number and it was quickly answered. They indicated that once the process was completed and the email receipt for the vehicle was generated, this triggered the EFT 3rd party (I am assuming its Chase) to send me an email within 24 hours requesting my bank information . At that point the 3 day clock starts.
I asked about the check. He said if the check option is selected, then your handed a paper check at the transaction (if your mileage is equal to the window you entered when you reserved your appt)
If there is a mileage discrepancy affecting the buyback amount, he is directed to write VOID on the check and mail it back to the VW Fatherland for a new check to be mailed to you. He agreed with me that the EFT was the better option as many banks hold large checks for indefinite periods , checks can get lost etc...
He then introduced me to the "ambassador". The ambassador took my registration from me and had another ambassador remove the plates. He indicated to the buyback rep that he needed him to do something before he could take the car into inventory. Once he did that he acknowledged he had the car in his system and they returned with my plates.
He then made small talk about what was "next" and I told him I already had a new car I bought two weeks ago. He said well okay I guess your set .
We shook hands and the settlement specialist walked me out and thanked me again and again for it going so smooth.
He said I was his one and only buyback scheduled today so it looks like they are starting out slow
I wonder how the 30-Nov status conference is going to go. There are so many complaints on the FTC website and blog.
