Should I keep my 2010 Jetta TDI or let VW buy it back?
So I have a 2010 VW Jetta, one of the turbo diesels involved in the emissions scandal. Yes, I have been belching fumes into the atmosphere like a boss. The care is completely paid for and gets 35-42 mpg.
Per their website, VW will offer me $5,100.00 in restitution. That is a matter of a flat amount plus a percentage of the car’s value. In terms of value, VW uses the pre-September, 2015 clean trade value. I get this money whether I keep the car or sell it back to VW.
VW will buy the car for about $7,200.00. This amount is based on the same pre-September value, with deductions for mileage above the normal level. According to cargurus.com, this is about right, +/- $500.00.
VW will fix the emissions problem for free.
Case for selling the car, taking my money and running
1. I will not have to worry about the car and its possible fix
2. I do not know what the fix will do to my mileage and/or performance
3. I’ll have about $12,300.00 to put toward another car, which should suit my needs
4. I do not know what the car will be worth in the future; would anyone want it?
5. And would a dealership take it on trade without a super gouge?
6. I paid $10,000.00 for the car in March, 2015, so I guess I’m ahead?
7. I put $2,500.00 in repairs in it in December, so that comes off the top, right?
Case for keeping the car
1. I’ll have $5,100.00, which is nice
2. I replaced the tires and battery, so those are good for a while
3. I really like the car
4. It handles and performs fine, now
5. It should have some value by the time I’m ready for something else (just don’t know what)
6. If I can drive it another 4 years or so, or to about 300K miles, I’ll have gotten my money’s worth
7. A diesel should hold up for that many miles
What would you do? Or do you need more information? What are my best options?
Take the money and buy something else.
I'm in the same boat with a 2010 Jetta TDI. When I filled out the online settlement form I told VW I want to keep the car, knowing I can change my mind later. I guess there is some possibility that a fix will be prohibitively expensive for VW: does this mean VW can require that you sell the car back? BTW, I called the info line and was told that if I choose to keep the car, the $5100 compensation would be bumped up to about $8600 when all is said and done. I didn't ask about that, the rep just volunteered the info. Also, for those who haven't yet completed the online form, be aware that the offers VW presents to you at the end of completing the form ($$ for selling or keeping your car) don't get saved for you, so take screen shots if you want to retain this info.
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