Offer with loan
- Thread starter Kpenny
- Start date
I was told I would receive my offer by 11-18, then told to call by Wednesday of last week. They gave me no "new" timeline for this week. I guess I am just hoping by 12-2 which is 20 business days from 11-1.
Last edited:
CT_White_SRT
Veteran Member
Got mine today. Documents were approved on 10/31.
Privately financed.
Privately financed.
GoThingNC
Well-known member
Uploaded my docs on 10/26 and just got an email today that the financial consent form was rejected due to lack of signature.
I called and after a 3 minute wait spoke to a representative and she said it was rejected because I used an electronic signature :-(
Ohh well....
I called and after a 3 minute wait spoke to a representative and she said it was rejected because I used an electronic signature :-(
Ohh well....
no-blue-screen
TDI Nut
All my docs were approved on 10/19. I called again today and was told the same thing as a few days ago. They told me an offer was in the system as of 11/22 but due to the high volume of claims I need to allow more time for the offer to come through. I asked them if this was normal and the lady said yes it's due to the high volume of claims.
ChimneyJim
Veteran Member
My complaint which I have expressed to the attorneys is not so much the delay but the order of the processing. My docs were accepted 10/18 and my bank provided a payoff 11/4 but still no offer while others weeks later are moving forward. I can understand the delay due to the number of claims. However it seems newer claims are getting stacked on top and they aren't getting to the earlier ones. Yes I'm sure there is data showing this not to be true but it's one perception.
bubbagumpshrimp
Veteran Member
That is absolutely the case. They have processed a disproportionate number of claims with titles (vehicles paid off) vs. claims without titles (vehicles with loans).
There were something like ~40,000 offer packages sent out, as of the date of that documents creation (check out the last item uploaded on the court portal). Only ~2,600 of the offers were for vehicles with loans.
I have to assume that it's quicker and easier to process the claims with titles (no loans), so they rushed through a bunch of those (regardless of submission date) so that they could claim a higher percentage of claims being processed within the court ordered timeline.
jimbo1mcm
Veteran Member
- Joined
- Jan 5, 2015
- Location
- CT USA
- TDI
- 2015 SEL TDI PREMIUM Blue 2015 SEL TDI PREMIUM's Silver and Blue
I am financed with vw credit. Low mileage 18,900 on a 2015. I ran the numbers and there is no penalty for VW to delay the payout, even for 3 months more, meanwhile I am paying interest on the loan. Nice work VW. Never again and I've had more than a few VW's.
ChimneyJim
Veteran Member
Just received a call from counsel. She mentioned that she was surprised that the report from Ankura stated that the second 10-day window began 11/1. They had been working under the 12/2 deadline. She agreed that 19 business days was out of line and agreed that there is no rhyme or reason to the order. Escalating me to lead counsel who has ability to speak directly to VW counsel and see if they can "find" my claim. No expectation but it feels good when someone agrees with you!
atomicfront
Veteran Member
I am financed with VW as well. I made a payment today of 450 dollars I wonder if they get around to making me an offer will that payment be included. I don't have much faith in them giving me the right amount. I like you have low mileage VW. 2013 with just lest than 30k miles on it.
no-blue-screen
TDI Nut
This is a good idea. Be sure to get the "10 day payoff amount" when you talk to them.
bizzle
Veteran Member
My JSW is financed through my Credit Union and I've already received my offer in Southern California. I believe it came in a few days ago in the beginning of the week.
Boosted_Teg
Member
Notarized offer returned today at 1630.
Buddenlee1
Well-known member
I would think they should have to reimburse those of us with a loan as of November 1st for the delay because they were court ordered to follow a certain time and they're not following through with that so as we keep making payments they're the ones making out
Buddenlee1
Well-known member
What I meant by reimburse is payments made as of November 1st and not towards the price of the buyback we should get a check for payments made I know some of you are going to say but we're paying to still drive the car but most of us aren't driving the car due to mileage or fear of breaking down or accident I'm only basing this conversation on the fact that they are not following through with what they were court ordered to do
no-blue-screen
TDI Nut
Offer received today folks! I am going to update the spreadsheet now.
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'm not sure I'm following you, are you suggesting they pay us additional?
You're probably aware that every "extra" dollar we pay in principal comes right back to us on the back end (when VW finally settles with us) because that's a dollar less VW has to pay toward the loan.
Of course, we're out interest and insurance, so I can see your argument there, but I'd counter that VW isn't forcing anyone to park their car during this time -- it's a voluntary decision.
DanB36
Veteran Member
@Buddenlee1, sentences and paragraphs would make your post much easier to follow.
Consider that, even if they were following the timelines 100%, it could be February before you turned in your car. Right now, they're making the turn-in appointments much closer to the requested time than they have to. And, as @PacCoast notes, you'll get ~97% of those payments back anyway, unless you're in the unfortunate position of needing the "loan forgiveness".
Consider that, even if they were following the timelines 100%, it could be February before you turned in your car. Right now, they're making the turn-in appointments much closer to the requested time than they have to. And, as @PacCoast notes, you'll get ~97% of those payments back anyway, unless you're in the unfortunate position of needing the "loan forgiveness".
ChimneyJim
Veteran Member
Offer just came in.
Docs accepted 10/18
Docs accepted 10/18