jsplinter
Well-known member
nobody's days started until Nov 1
Offer with loan
- Thread starter Kpenny
- Start date
tkdcmpedude
Active member
Agreed with you on all of what you stated and hope we do get phone calls back.
tkdcmpedude
Active member
See that's what is so troubling for me, no one has concretely stated this in a way that makes me fill as if that is true. I say this because of when people began to get offer letters that had cars paid off. To me that tells me something is strange within how this count of days is being done.
-tkd
atomicfront
Veteran Member
Yeah well I haven't gotten an offer letter and my loan is with VW.
aja8888
Top Post Dawg
9/17 docs uploaded and confirmed.
10/18 docs approved e-mail.
Today: Called Penfed credit union and they have no record of being contacted by VW's consultant for a loan payoff number.
10/18 docs approved e-mail.
Today: Called Penfed credit union and they have no record of being contacted by VW's consultant for a loan payoff number.
purduecrew
Veteran Member
All three of mine were approved today, all post 6/28 with loans.
mhoffman47
Member
I know I am missing something with this question, but here it goes:
Why are those of us with loans expecting that they would be contacting our banks prior to scheduling an appointment? Most loan payoffs are only good for 10 days, so what good is it contacting them now when some appointments are not for weeks, if not months? Perhaps just for the title?
I too am troubled that only owners are getting offers and am just trying to rationalize this somehow, but this point has not made sense to me.
Why are those of us with loans expecting that they would be contacting our banks prior to scheduling an appointment? Most loan payoffs are only good for 10 days, so what good is it contacting them now when some appointments are not for weeks, if not months? Perhaps just for the title?
I too am troubled that only owners are getting offers and am just trying to rationalize this somehow, but this point has not made sense to me.
One theory, that I'm not sure I agree with or not, is that people with loans, especially ones through VW, draw interest, and VW stands to make extra money on that interest. Again, not sure I agree with it, but it's interesting nonetheless.
jsplinter
Well-known member
Just because they worked ahead, doesn't mean they had too. according to the email from the lawyer that someone posted, days do not officially start until Nov 1. If VW completed your stuff before they were obligated then that is great, but no one has an argument about not getting stuff completed until the official times have been lapsed.
ericy
Veteran Member
The figure that I saw:
http://jalopnik.com/court-approves-vws-14-7-billion-dieselgate-settlement-1788194376
showed that if there was financing that there would be "bank interaction" before the offer letter. Whatever that means.
aja8888
Top Post Dawg
It means verifying the loan and getting a payoff number.
tkdcmpedude
Active member
Fair enough, I saw that email you speak of from the lawyer. I guess what makes me frustrated is every time I call to ask since my documents were approved on October 18th I was getting a very different answer. Since I am hearing different answers has placed questions in my mind as to what day is the official counter starting on. Thanks for the clarification you did provide. =)
blondeshady2001
Veteran Member
It's not out of the realm of possibility. The ones who are paid off are addressed first so if they go back to VW, thats all the quicker VW can possibly get person x to start paying on another loan. Those who have a loan with VW, VW can, as you say collect the interest on those loans but pay them off, make them happy so they can think of staying. And the third scenario, where I fall, is the privately financed bundle. Those of us who are not currently paying any money to VW, I fear are going to be next to last. Last being lessees.
That's enough conspiracy theories for the day. Time to take off my foil hat.
That and one of the forms that needed to be uploaded was a consent form granting VW authority to contact our financial institutions about our loan's.
Mr. Furious
Veteran Member
A solid point, and there should have been stipulations in the settlement to prevent that. People with outstanding loans have been harmed just as much as those who do not, so it would be unfair to give preferential treatment to the latter, especially if it were for the purpose of potential gain to VW.
PacCoastFwy923
Veteran Member
- Joined
- Feb 21, 2008
- Location
- Oakland
- TDI
- 2015 Passat SE TDI 6-speed manual; 2006 mkV Jetta TDI / 5-speed / Pkg 2
I hope everyone is inputting their dates into the spreadsheet.
58% of title holders have received their verification / buy back offer.
3% of privately financed members and 1% of VW financed members have received theirs.
Those who are financed and report "verified" are such a small number that I'm a little suspect. Hopefully we'll see those percentages spike in the next few days.
58% of title holders have received their verification / buy back offer.
3% of privately financed members and 1% of VW financed members have received theirs.
Those who are financed and report "verified" are such a small number that I'm a little suspect. Hopefully we'll see those percentages spike in the next few days.
Tdi_jetta64
Member
Private Financed Jetta owner here. I called the help line today and spoke to the rep who said that I should be receiving verification today since its been 10 days since my documents were accepted. Currently sitting at step 15 with 3 green arrows. She did not mention anything else and said that I should be getting my offer sometime today and to call back tomorrow if I did not receive an email with the offer. Just seemed like bs to me. Still no email and with the spreadsheet it doesnt seem like I will be getting an offer anytime soon.
theseus12
Active member
I find it quite remarkable how many different responses people have had from agents on the help line. I am also at step 15 with the green arrows and the ten business day message. Based on that, I should receive an offer by tomorrow. I called the help line just to see if they would agree with my calculation and was told that if I submitted my documents before November 1st that it would be 20 days until I received an offer. He had very little solid information. He could not even tell me when my documents were Submitted or approved. I told him what the website said and what the ftc consent order said and he said that was misinformation. Amazing! I will wait until tomorrow and see what happens.
CT_White_SRT
Veteran Member
I wish you luck. I am also at Step 15 and have been for far more than 10 business days.
MacBookemDanno
Well-known member
Same here waiting patiently. I guess they're in no rush to get to folks that have outstanding loans.
My docs were submitted on Sept 25 and accepted on Nov 2
theseus12
Active member
Wait Time
Theoretically, 10 business days for you should be today. Same for me. Of course, the VW call center people are saying that they have 20 days (Dec. 2nd). I don't really understand this logic and it goes against what the FTC consent order states:
"3. Notifying consumers whether they are eligible for their elected remedy
Theoretically, 10 business days for you should be today. Same for me. Of course, the VW call center people are saying that they have 20 days (Dec. 2nd). I don't really understand this logic and it goes against what the FTC consent order states:
"3. Notifying consumers whether they are eligible for their elected remedy
within 10 business days, or more quickly if reasonable, of receiving a
completed application;"Right, which for me was 10/20. Haven't heard anything since. Still waiting on final offer, like many with financed cars.
I received the confirmation email on 10/21 my documents were good to go. Been waiting ever since. According to the consent order, my 10th day was yesterday. My car is financed thru vw credit. I don't understand what the holdup is. A dealer can call and get a payoff quote in minutes.
bloc
Veteran Member
Wouldn't it make a lot more sense for them to just handle the paid-off cars first because those transactions are more simple, and it gets them a head start into the 300k+ vehicles being sold back? "low hanging fruit" when they do have deadlines and targets they have to hit? Why hold up the ones that are simple so you can process more complex claims first? I get it.. we want it to be chronological, and the restrictions put on them by the court in effect force them to.. but if you had a few thousand vehicles that can be processed without having to work with banks, why not?
IMO anyone with foil hat ideas that the order of buybacks is structured to increase loan returns gives VW way too much credit (get it?). The FAR more likely scenario is they bit off a lot more than they can chew with the promised buyback timelines and are dealing with it in the most efficient way they can. Not that it's efficient enough....
Mr. Furious
Veteran Member
Sure. The issue, however, comes in when people who have loans do not have their transactions processed within the timelines agreed upon in the settlement. If Joe, who does not have a loan gets his offer letter in five business days and Bob, who does, gets his in ten, then there's no issue. If Joe gets his in ten and Bob is still waiting after fifteen, then there's a problem.
My documents were accepted (green checkmark) on 11/7. The ten day clock to get an official offer started then, per the text of the settlement.
tkdcmpedude
Active member
See I would agree with you on the date calculation but my documents were approved on 10/18 and still no offer given. The only logic I have been able to correlate with the data in that spreadsheet is that people who had the car paid off are getting things faster with documents approved after mine. I would also agree with you on your scenario listed above but today marks business day 22 for me. Then you have people stating the counter did not start since 11/1. Which places me at business day 12. I am getting frustrated because I am hearing so many variations on the counting of days. I feel sometimes I want to peruse it further but sometimes not sure what it will uncover any new information other than please continue to wait in line.
DigitalTDI
Member
There's hope folks! Just wanted to chime in here because this community has been immensely helpful in keeping up to date with the buyback process. I'm one of the individuals who has a privately financed loan and has already set up my turn-in date.
I've added my info to the spreadsheet as well.
Hopefully the rest of us with loans will start seeing some movement shortly!
I've added my info to the spreadsheet as well.
Hopefully the rest of us with loans will start seeing some movement shortly!
MacBookemDanno
Well-known member
Good to hear!!
I had docs accepted 11/2 as well, so if I don't get an offer by this afternoon I will be calling in and making them show me exactly where in the settlement it says they really have 20 business days!
They already gave me the "oh its really 20 business days, not 10" excuse when i called in to see why my documents were taking so long to process (submitted 9/19), I'm not standing for that sad excuse again!
Regardless, I have a deposit on a GTI and if I don't have a buyback date in hand by the end of the month the deal will fall through... if that happens I think I am done with VW for good (or at least for now
)I'm with you (10/20 approval, green 15 with checks) and i called yesterday and the rep told me that i should have an offer no later than Friday. The misinformation is all over the place which is why I'm so pissed off at VW. They simply don't care, because if they did, their PR rep could put out a simple statement explaining why people with paid off vehicles are getting preferential treatment.
But they choose option B, radio silence.
I can't believe I almost decided to stay with VW and buy another car with them.