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I just received my final offer from VW settlement. I'm not receiving any money from the settlement! I owe roughly $26K on my car. They're valuing my 2014 Passat TDI SEL for $19K because of my mileage. They're using my "restitution" money to cover the mileage overage... all $6971 of my restitution. When I filed the paperwork I had 60K miles and my final payoff I will get $222.oo. for a $40K car. I now have 70K miles on it so there goes my $222! Is anyone else having this issue? Does anyone know of some solutions?
 

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Yes, I am the original owner. They're penalizing my for my mileage. I have over 60K (70K by the time the buyback happens) and they're estimating I should only have 35K. I think the mileage penalty is a scam, I bought the car to drive roughly 500-700/week, how was I suppose to know that in 2 years time I would be in this situation???? I was curious if anyone else has the same problem and what their outcome/solution was?
 

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No, you don't have a $40,000 car. With depreciation and mileage you have a $19,000 car and that is what the numbers are based on. My best guess is that they should give you a check for $19,000 and let you deal with the $7,000 you would still owe the finance company after you gave them the $19,000 check.

No, they are not "scamming" you for mileage.

If you had totaled the car, Insurance would have only given you the KBB value and you would have to come up with the rest to retire your loan.

My only advice would be not to carry more debt than a car is worth, but hey, folks do it all the time and will roll what is still owed on there trade into the loan for the new car. Not saying that what you did, just possible.
 

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I just received my final offer from VW settlement. I'm not receiving any money from the settlement! I owe roughly $26K on my car. They're valuing my 2014 Passat TDI SEL for $19K because of my mileage. They're using my "restitution" money to cover the mileage overage... all $6971 of my restitution. When I filed the paperwork I had 60K miles and my final payoff I will get $222.oo. for a $40K car. I now have 70K miles on it so there goes my $222! Is anyone else having this issue? Does anyone know of some solutions?
If I was in this situation, I wouldn't do the buy back. Get the fix done, collect my restitution take that money and throw it at the loan. That car, providing that your taking good care of it should run a good while. Unfortunately when one gets upside down like this, your going to pay the piper, one way or another. I'd drive that car, till the wheels fell off, then I'd put them back on and drive it some more. But of course this is easy for me to say, because I can do a lot of the mechanical work myself, to perform the timing belt service & what not to save money there. Plus I know nothing about your other financials, or other situations that you might be up against.
 

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That's why I always thought to buy a car rather than lease it. Well, I had the biggest part of the necessary money and I needed a couple of thousand dollars more. The best option for me was to have a credit rather than lease the car. More than that, I would not have so much headache with the credit company, but I would have it with the dealer as the lease is more complex. So to say, I found a great credit company that could offer me the necessary amount of money for the car I wanted to buy, for a short period of time and with a very small % to pay. That's how I bought my VW Touareg 2017 with a 3.0 Petrol engine. If you are looking for a good credit company, you can find it here https://foxycredit.com/se/thorn-lan
 
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