Ursadorable
Well-known member
I'm sort of really surprised that VW Finance isn't getting nailed in some fashion as well, since they're profiting off this as well. Earning interest off a product not legal to sell and all.
VW Finance profiting from dirty diesels
- Thread starter Ursadorable
- Start date
str1ck
Active member
I was thinking the same thing. I am wondering if there will be specific language about people who financed through VW as well as the Lease holders. It would be nice if people who financed through VW could walk away at the very least not owing anything as part of the buy back, plus getting the cash settlement.
So, should every bank that financed a TDI get pulled into your web? They likely had just much knowledge of the cheat as VW Finance. Why would an owner who financed through a local bank be treated differently than one who financed through VW Finance?
str1ck
Active member
Because VW is being punished, your local bank had nothing to gain, and VAG / VW Finance had everything to gain.
Ursadorable
Well-known member
Are they still profiting from it right now? If so, I'd have to say yes.
I800C0LLECT
Veteran Member
So just because it has vw in it's name it must be punished?
This is a very uninformed stance to take. It's no wonder we allow ourselves to be taken advantage of with so many skewed economic policies that line the pockets of a few in very underhanded ways.
If it made any legal sense, which is really only governed by semantics without regard to ethics these days... I'm sure the lawyers would be going after Wells Fargo(my bank) and many others.
If anybody thought it would be OK to go after vw finance it would amount to a public lynching
This is a very uninformed stance to take. It's no wonder we allow ourselves to be taken advantage of with so many skewed economic policies that line the pockets of a few in very underhanded ways.
If it made any legal sense, which is really only governed by semantics without regard to ethics these days... I'm sure the lawyers would be going after Wells Fargo(my bank) and many others.
If anybody thought it would be OK to go after vw finance it would amount to a public lynching
scooperhsd
Top Post Dawg
If you dig long enough in Threadzilla - you will find a story about how VW Finance was getting bit bigtime by the devaluation of the TDI's in the marketplace.
So you "bad-wishers" did get your wish, at least a little.
So you "bad-wishers" did get your wish, at least a little.
BuyMeBackSoon
Veteran Member
Why stop at the finance company? Why not sue your local dealer, salespeople, techs, back office employees, lunch trucks, coffee vendors,etc. after all they all benefit from your buying a TDI over a Honda?
IndigoBlueWagon
TDIClub Enthusiast, Principal IDParts, Vendor , w/
I'm missing something here. You bought a vehicle and financed it with VW Credit. You've received the car and have been legally able to drive it. What have they done wrong?
VW will most likely be fined for selling cars that did not meet emissions standards in daily operation. In addition they're compensating owners in some fashion. How does your borrowing relationship with VW Credit or another lender enter the picture?
And I thought it was us Americans who were always looking for a lawsuit.
2015vwgolfdiesel
Top Post Dawg
I did business over the phone from Tulsa. My dealer negotiated to have a local Missouri bank finance it at 1.9% ~~ Retired the note in 4-5 months.
That bank had nothing to do with Dieselgate.
Can't punish them ~~ and if I tried to mess with them ~~ good bye my FICO
As far as VW finance CORP is concerned, they DID get a few(?) REPO cars back because some persons were under water, and just gave up.
That bank had nothing to do with Dieselgate.
Can't punish them ~~ and if I tried to mess with them ~~ good bye my FICO
As far as VW finance CORP is concerned, they DID get a few(?) REPO cars back because some persons were under water, and just gave up.
kuklaki
Well-known member
The finance arm has nothing to do with the scandal. You were not forced to use VW Credit. You had the option to pay cash, finance through your own bank or credit union, etc. They knew no more about the scandal than you when you bought your TDI. It was not some massive conspiracy that anyone and everyone VW was in on. As it seems it was a few handfuls of execs at the OEM manufacturer.
To coin a phrase: Keep moving, nothing to see here.
To coin a phrase: Keep moving, nothing to see here.
tomo366
TDI Lifer, Member #68
I bought my Car from Chris Farnham.....now deceased! Do you think we should go after him? Got me exactly the car I wanted And I still love it......
wutech
Well-known member
GoFaster
Moderator at Large
What he means is that VW Credit is not a registered financial institution and they're acting essentially as a sales arm of whatever the underlying registered financial institution is. I can't speak for the veracity of that being Chase Bank but I can say that it's a common arrangement here in Canada.
At least in Canada, if you read the fine print of your financial agreement, somewhere in there, it will say who the underlying financial institution is.
At least in Canada, if you read the fine print of your financial agreement, somewhere in there, it will say who the underlying financial institution is.