Question about 3rd-Party buyouts with VW Credit

Ask the Hackrs
1

Greetings,

Just got off the phone with VW Credit, as I was thinking of selling my leased '21 Tiguan SEL that has 20 payments to go. It was a true 0 DAS deal for 10/39 at 415 a month (NJ). My buyout with all fees is 28,200.

When I asked about a 3rd-party buyout price, the rep stated that their price was based on the current market value of the car (which is variable), as well as a “dealer tax.” This was after I looked into a price from webuyanycar.com. VW Credit only gives prices via fax or mail, and while I didn’t wait around for the fax to come in (I had already been waiting quite a bit), the webuyanycar employee stated that the figure from VW for them to buy the car would likely be around 35K. I’m not being forced to sell, and I can wait; not looking to be in any negative equity position.

When I asked if this was the same for a VW dealer, he stated that it was.

Anyone else have this experience with VW? It seems that the only way out would be to go through the hassle of buying it out myself, wait for the paperwork to go through, and then hope the market doesn’t crater, no?

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VW/Audi charges market rate to 3rd party dealers making sales to them basically a non-starter. They do not charge the same rate to a VW/Audi dealer. The buyout will be more than your buyout, as they’re charging some extra fees for sales to VW/Audi dealers now, but it won’t be anywhere near what they charge a 3rd party dealer.

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VW/Audi dealers will not have the 3rd party pricing. It might be different than your price, but won’t be as bad as something that isn’t in their dealer network.

If you can purchase the vehicle yourself first, it will give you the ability to access the equity a lot easier. It will obviously take a fair amount of time and cash to make this happen.

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Thanks for confirming the buyout price to 3rd-party buyers. You’re right, that’s a no-go. Not sure why, but I had a feeling the VW Credit rep was giving me faulty info regarding VW dealers.

This amazes me. You would think someone from VW Credit would have this answer right at their fingertips (especially since it’s a question that I’m sure has been asked a thousand times over the past year or so).

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You’d be surprised, L1 CS rarely gets immediate answers to stuff that higher-ups dictate.

When I was in HS, I got credit for manning our L1 helpdesk, when students were offered to purchase our laptops, I got grilled on the pricing, etc.

While your frustration is understandable, if they don’t have immediate access to that info it’s not their direct fault (especially in a group as large as VW credit America)

The WeBuyAnyCar guy is wrong. VW dealers should have a different price to buy your car so pursuing that route is best for you.

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Level 1 (L1), I presume? I can understand that…thanks for the response!

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Guess I’ll be patient and see if a dealer is willing to give me what I owe (or very close to it) if I order the smaller battery ID.4. I just refuse to get underwater or pay off negative equity to satisfy my vehicular whims.
Thanks

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Update for anyone thinking about a buyout and sale w/ VW Credit:

About 4-6 months ago, I had two VW dealers offer me buyouts of 29K and 27K, and this was when values were higher. I declined those because it meant that I would’ve paid out a few bucks to end my lease, and I did not want to do that. I didn’t bother this time around.

Fast forward to August 15th, I took the plunge and started the buyout process with VW Credit. Here are the details:

  • Sent them a bank check and all paperwork on Aug. 16th
  • They received it Aug 18th and began processing Aug 19th
  • I received the title (still with VW credit on it) on Aug 25th
  • Had already made an appointment for the DMV on Sat. the 27th. That went fine.
  • I was now ready to sell the Tiguan without any liens or financing to slow the process down.

I went back to WBAC.com, and their offer went down to 28,300. Carvana was like 25,800. Carmax was at 29,300. And ALgo showed 29,700.

So, I called Algo, and their offer went down to 29,400 (surprised it was still in the neighborhood, actually). After I said I was interested but needed some time, I was given the “If I get you 29,700 do we have a deal?” After the rep threw his weight around a bit (his words), they agreed to 29,700!

Luckily, the market didn’t crash, and some of the offers actually went up. It wasn’t too much of a hassle, and the fact that NJMVC requires appointments for titles is actually very convenient. I was in and out in under 20 minutes. With Algo’s reasonable $95 fee, I came out about 1,200 ahead once you factor in FedEx fees, and title and registration for the Tiguan…still in the black.

Finally, ALgo was super easy to work with. I did the online quote Sat. night but had to wait until Monday morning to get the ball rolling. By Tuesday at 4:00, they had received the next day UPS envelope provided by them, and I was done. I then waited until tonight (Wed.) for the car to be picked up at 6:45 pm. Very quick by any standard, I think.

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Congrats’ what’s your plan for the replacement?

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It’s been in my driveway since last Tuesday…2004 Volvo XC70 with only 49K miles from VA, 1 elderly owner (I received her death certificate in the paperwork from the dealer), no accidents, and very clean.

I figured why drop 8500 more on the Tiguan lease through May 2024, when I can scratch an itch that I’ve had for a P2 XC70, pay a few thousand more, and have a paid off car well before 2024 even begins. I wasn’t going to buy it out anyway at the end of the lease, so why not?

Even at $12,150 paid, these cars have a following, and I don’t drive 15K miles a year, so it will definitely keep its value. I’ve seen similar examples on C&B and BaT with more miles that aren’t as nice sell for nearly 15K! Oh, and my full-coverage insurance went down from 974 to 528.

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2004 and 49k? Sounds like the proverbial ‘Grandma’s car only driven on Sundays to Church’ scenario.

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