Buyback Payment Smaller than Offer for No Reason

[dgturnquist]

As far as I can tell, my problem is a first!

I turned our TDI in on 3/1, I received the owed $14,648.03 via wire from Chase on 3/7, but VW Credit received a short payment (vs. my offer) of $10,009.21 on 3/8. That amount paid off my loan with VW credit with $1.04 to spare, but shorted the amount owed me by $949.49 which was overpayment from the last couple of months.

In other words, they were supposed to pay VW Credit $10,958.70 per my offer below, but only paid them $10,009.21 - which is $949.49 short of the offer.

I've been on the telephone with VW Credit who confirmed twice that they did not receive the proper amount, and I've been 'escalated' via the Hotline as they have never heard of such a problem.

Has anyone else on this site heard of VW Credit being short paid vs. their offer letter? Somehow they paid the loan off exactly without contacting VW Creidit (right......).

SELECTED OPTION - BUYBACK. Under the buyback option, Volkswagen of America, Inc. repurchased your vehicle for a total of $25,606.73 as broken down below:
$ 18,850.00 Vehicle Return Amount
$ 6,756.73 Additional Restitution Payment
$ 25,606.73 Total Amount Before Loan PayOff
$ 10,958.70 Total Outstanding Loan Amount on 01/25/2017
$ 10, 958.70 Amount VW Will Pay Your Lender
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[FONT=&quot] $ 14,648.03 Amount VW Paid You
Mileage was 50859
Thanks, Doug
[/FONT]

 

[PacCoastFwy923]

I do recall reading a post a number of weeks ago with a similar situation, but no specifics and mauve even before funds were transferred.

No matter, VW owes you that money.

I can't offer any special advice other than get class counsel involved, and stay persistent. It'll work out (eventually).

 

[dgturnquist]

I hope so. First I have to get VW to admit they didn't send the correct amount to VW Credit - seems easy enough as I'm sure their system matches checks to claim numbers. But so far they are not admitting that there is any issue but they are looking into it. VW did tell me that that do not confirm payoffs with lien holders, so I don't know how they managed to payoff the exact amount I owed to VW Credit.

I'll keep this thread updated. And if others have had this issue please chime in. -Doug

 

[CHawk]

I'm curious: what was your mileage at buyback?

 

[dgturnquist]

Mileage was 50859

 

[PacCoastFwy923]

Good question. Though the car would have to be over by two brackets to be off in that dollar range.

Do the mileage and turn in month calcs match the offer letter?

 

[CHawk]

Looks to me like the buyback should have been $630 more than the offer. Don't hold me to that, because I don't know all the details--just going by the original post and 2013 Sportwagen.

 

[dmarsingill]

I came up with 24947.......that is 300 short.

Donald

 

[dgturnquist]

I started this thread. Update - I received the amount owed me by VWOA today via FedEx. My claim is paid off now. I don't know if my calling and escalating the problem helped, but whatever the reason it was paid, in full, today.