So what am I waiting on?

[linewarbr]

2014 Passat owner here with less than 30k miles that I bought in October 2014, and we're opting for the buyback. It is privately financed (Bank of America) and my documents were accepted November 8th. . . now silence from VW. The email said they would provide an offer within 10 business days, and that came and went on 11/23 if you count Veteran's Day as a holiday.

So what is the holdup? If it's the payoff on the car, every time I've gone to a dealer and traded in a car with an outstanding lien they could get the payoff in less than 5 minutes. I don't see how that could be the holdup.

Sorry if this is a redundant post - I've browsed through the threads here and according to the spreadsheet, obviously there are some that have been waiting longer than me, but the information I could glean seems hypothetical. I need to make my December car payment, which will be the second payment made since my Financial Consent form was accepted. This is getting frustrating.

 

[Ridered67]

There's a ton of us in the same boat....VW is dragging feet. People are speculating that the delay has to do with re calculation of the restitution payments now that VW knows how many eligible sellers are participating

 

[linewarbr]

That's one reason I'm like, "Now, now NOW!" I have true concerns about VW's long-term viability in the US after this, since greater than 1/3 of their sales here were TDI's.

I test drove a Pilot over the weekend as a potential replacement, and the sales guy said that he was a VW salesman before coming to Honda - he quit about a week after the scandal went from smoke to fire. He could see the writing on the wall that, at bare minimum, he would have far fewer sales and therefore less commission if he stayed.

 

[scottb8888]

I'm with you. I got my offer, signed, notarized and sent it back on 11/20. Got the receipt that they received it.

I called my local Dealer and he said 12/1 is when they are starting the buy backs.

What is taking so long???

 

[bring]

People are speculating that the delay has to do with re calculation of the restitution payments now that VW knows how many eligible sellers are participating

I believe the recalc is only for those who bought after the scandal hit.

 

[linewarbr]

I have true concerns about VW's long-term viability in the US after this, since greater than 1/3 of their sales here were TDI's.

To clarify, I know VWAG is too big to completely fold and pull out of the US, considering Audi, Bentley, and Lamborghini. But I could reasonably see down the road where VW as a standalone brand is basically the equivalent of Suzuki. Yeah, they're still here, but who do you know that actually owns a Suzuki?

 

[DanB36]

I believe the recalc is only for those who bought after the scandal hit.

Correct, and more specifically, it appears to be only for those who bought between 9/18/15 and 6/28/16. Those who bought after 6/28 appear to be getting full restitution with no adjustment.

 

[linewarbr]

I thought there was a cease-and-desist on TDI sales after the scandal broke?

 

[DanB36]

I thought there was a cease-and-desist on TDI sales after the scandal broke?

Only on new ones, and VW self-imposed a prohibition on selling them as CPO. But used sales were (and still are) fine--I've bought two used VW TDIs, and one used Audi, from VW and Audi dealerships (respectively) since 9/18/15.

 

[r_jojola]

To clarify, I know VWAG is too big to completely fold and pull out of the US, considering Audi, Bentley, and Lamborghini. But I could reasonably see down the road where VW as a standalone brand is basically the equivalent of Suzuki. Yeah, they're still here, but who do you know that actually owns a Suzuki?

Actully I owned three Suzukis....GSXR 600, GSXR 750, GSXR 1000....great motorcycles...****ty cars.

As for the original poster....I got my email back 10/31 and received the 10 day offer bs.....and here I am still waiting for VW to offer me a offer.

 

[Noismyname]

Just got off the phone with VW. They are now saying 20 business days. They claim they have two auditors and each one needs 10 business days. Im just happy I got through honestly, yesterday the robot hung up on me twice. Kind of irritating that they originally told me 10 business days though. Today is #15 since acceptance of all of my paperwork.

 

[r_jojola]

Just got off the phone with VW. They are now saying 20 business days. They claim they have two auditors and each one needs 10 business days. Im just happy I got through honestly, yesterday the robot hung up on me twice. Kind of irritating that they originally told me 10 business days though. Today is #15 since acceptance of all of my paperwork.

Well today or tomorrow will be my 20 business day mark....but I'm not going to hold my breath.

 

[SOCALGAL]

Just got off the phone with VW. They are now saying 20 business days. They claim they have two auditors and each one needs 10 business days. Im just happy I got through honestly, yesterday the robot hung up on me twice. Kind of irritating that they originally told me 10 business days though. Today is #15 since acceptance of all of my paperwork.

2 auditors trying to do 100's of thousands of claims? Lord help us if that's the case.

 

[larrydk]

If VW files for bankruptcy it would be interesting to see how the judge would "divy" up the settlement money...

 

[chadbag]

If VW files for bankruptcy it would be interesting to see how the judge would "divy" up the settlement money...

Yes it would. However, VW is not going to file for bankruptcy. That is like cutting off your nose because there is a zit on it.

 

[Rico567]

Reading this thread -and others- it's no surprise that VW is taking this long to process claims. I don't care whose fault it is, there was no way to predict the numbers that would hit their system with buyback requests. So what they put into place was a sort of educated guess, and it appears to be they guessed low. The limiting factor doesn't seem to be auditors, ambassadors, nothing like that. From what I listened to in the Audi training video, it's truck drivers (well, trucks). It was very specific about how many cars per day could be handled, everything is set up so that cars received are put into a secure area, and then car transporters have to show up and remove them. The sense I got is that 8 cars per location per day was going to be seen as the limit. And since this is still in the initial phases, I'm guessing there's no way they can handle that limit yet.
People who think that this is going to be reported to the court and the judge will simply say some magic legal phrase to make it go faster are dreaming.

 

[larrydk]

This math may have already been done....

There are about 650 dealers in the US....

About 280,000 owners seem to be opting for buyback....

That's 430 buybacks/dealership.....although this is not an accurate number because it does not account for population density. I assume more urban dealerships will have to serve more people?

There are 303 days available to conduct buybacks during 2017 (no holidays and no Sundays)

So each dealership only needs to conduct abou 1.5 buybacks a day to complete all of these buybacks.....seems doable.

 

[leeloo67]

I've submitted my docs some time ago, heard nothing at all so far. Sounds like almost everyone is ahead of me. Not good because I have a dying/dead battery and already bought a replacement vehicle. Soon I'm going to have to pay the registration renewal. Bleh.

 

[purduecrew]

This math may have already been done....

There are about 650 dealers in the US....

About 280,000 owners seem to be opting for buyback....

That's 430 buybacks/dealership.....although this is not an accurate number because it does not account for population density. I assume more urban dealerships will have to serve more people?

There are 303 days available to conduct buybacks during 2017 (no holidays and no Sundays)

So each dealership only needs to conduct abou 1.5 buybacks a day to complete all of these buybacks.....seems doable.

I'm sure I will get corrected if I am incorrect but I think VW has 90 days tip to tail to complete a buyback transaction (if owner wants immediate return).

 

[HBarlow]

I'm sure I will get corrected if I am incorrect but I think VW has 90 days tip to tail to complete a buyback transaction (if owner wants immediate return).

Did you make up that nice rule or hear it at your favorite coffee shop?

 

[purduecrew]

Did you make up that nice rule or hear it at your favorite coffee shop?

Well, no not really.

https://www.consumer.ftc.gov/blog/vw-buybacks-and-lease-terminations-begin

Looks like this document is stating they have 90 days once offer is accepted. Im pretty sure I read originally that the whole process had a minimum cap of 90 days but either way, I wasn't too far off considering they have submitted offers within 15 days of the process beginning.

The real point is that they can't make you wait 12 months once you have agreed to the offer and they only have 20 days or so to go from submittal to offer. Im not gonna get hung up on the exact count. So 110 days max minimum?

Same thing is also stated on page 2 of the offer agreement.

 

[linewarbr]

Only on new ones, and VW self-imposed a prohibition on selling them as CPO. But used sales were (and still are) fine--I've bought two used VW TDIs, and one used Audi, from VW and Audi dealerships (respectively) since 9/18/15.

That's wise. . . I wish I had thought about doing that. Their values tanked, you could get them at a steal - then turn around and let VW buy them back from you at a profit. Absolute genius.

Actully I owned three Suzukis....GSXR 600, GSXR 750, GSXR 1000....great motorcycles...

Lol, forgot about the motorcycles. I had a picture in my mind when I wrote that of the weird two-door convertible SUV thing they tried to replace the Samurai with. . .

 

[DanB36]

Absolute genius.

I wouldn't say genius, but yeah, there was a bit of money to be made there. It's still valid until 9/1/18, but I think you'll have trouble finding suitable cars at good prices now. I think someone else here bought eleven of them.

 

[bring]

That's 430 buybacks/dealership.....although this is not an accurate number because it does not account for population density. I assume more urban dealerships will have to serve more people?

Chart 5-3 on the Independent Claims Supervisor Report shows the top 5 states. Cali has 60k, TX 30k, Fla 23k, NY & PA 18k each.

 

[linewarbr]

Chart 5-3 on the Independent Claims Supervisor Report shows the top 5 states. Cali has 60k, TX 30k, Fla 23k, NY & PA 18k each.

So would it be a fair logical conclusion from that density breakdown to think that consumers in California and Texas will have the most delay in getting their cars sold back?

I'm in Texas, Houston metro area. . . .

 

[HBarlow]

So would it be a fair logical conclusion from that density breakdown to think that consumers in California and Texas will have the most delay in getting their cars sold back?

I'm in Texas, Houston metro area. . . .

Could be but not necessarily. Perhaps we'll have more participating dealers with settlement representatives working Monday - Friday. I guess we will find out over the next few weeks.

 

[HBarlow]

Well, no not really.

https://www.consumer.ftc.gov/blog/vw-buybacks-and-lease-terminations-begin

Looks like this document is stating they have 90 days once offer is accepted. Im pretty sure I read originally that the whole process had a minimum cap of 90 days but either way, I wasn't too far off considering they have submitted offers within 15 days of the process beginning.

The real point is that they can't make you wait 12 months once you have agreed to the offer and they only have 20 days or so to go from submittal to offer. Im not gonna get hung up on the exact count. So 110 days max minimum?

Same thing is also stated on page 2 of the offer agreement.

I followed your link. You are correct. According to the FTC notice VW is required to offer us a buy back appointment within 90 days.

For me that will be near the end of February. So far they have not met the other time requirements so I'm not confident they'll meet that one.

 

[cincin]

I'm in week 5 of waiting for offer letter, call once a week, this week I was told that i should be getting offer anytime now...

Super pissed cause i'm moving to different state at end of december and i'm pretty sure ill have to drive this thing there, also the car I want to buy has 0% financing for november so ill be loosing that...

 

[EEVLWYS]

Remember they didn't start counting days until November 1st (I don't know why)...also it's 20 working days...that's Monday-Friday....and you can't include Veterans day, and 2 days for thanksgiving, oh and I wouldn't doubt it if they counted election day as a holiday.......so that being said....I think 20 working days would be December 2nd......I know it's BS!

 

[TDIintheLOU]

In this day and age of computers. Why is it taking 20 business days for anything? VW has had all of this same information since they did the goodwill program. This should be as easy as setting an appointment with the dealer rep and taking in your car and paperwork. They can verify the mileage and plug it into the buyback formula. The dealer will have a notary to release VW from further litigation and give them power to process the title. Payoff on a loan takes less than 5 min. Am I thinking this is too easy of a process?