2015 VW TDI. Black 10,988 miles. No dents/scratches. Always Hand washed and hand waxed. Paid $30.5K out the door. Owe $17.6K.
What would you do? Really seems to be a tossup.
Posted Aug 20, 2016, 6:31 AM UTC
Drive it until sept 2018. Every dollar of principal you pay is cash money coming back to you. It's free to drive for 2 years, THEN do the buyback and laugh your way to the bank as you just drove a brand new car for 3 years for almost free.
Without the buyback, that 30k out the door car would be worth maybe 16k at the end of 3 years. You get to drive nearly depreciation free, and you'll have even more equity in it in 2 years, so a nice doe payment for something new. Or buy used straight up.
Thank you. This assuaged all my concerns.
I had planned to buy the TDI and then later buy the, now announced, Tesla Model 3 (did 1K down thing): selling a Diesel with 30K miles on it known for retaining value. Then the emissions issue happened.
It looks like I'll still be able to that and actually come out ahead a little bit. Again, thank you. I hope others in my position see your post.
Yeah, in your case, everything turned out better than expected. It's a hell of a deal, especially for MY2013 and up.
This seems too good to be true. Im in the same boat. Kinda. I own a 2015 w/ 10k miles. I bought it in March 2016.
[deleted]
Take the buyback as late as possible.
You have a car under warranty. It looks like you are getting about $28K if I am looking at it right. I don't think I saw how many miles you put on just that you have about 11K. Is that 11K a year? If so that is less than the 1042/mo so that means you can either get $28K or so in Nov or if you keep driving the same rate, $28K in mid/late 2018. That is kind of an easy decision. By then you will have paid down any loan you may have quite a bit more so that means more money in pocket than you will get in Nov. You may have to pay for tires, brakes and oil changes over the next 2 years or so but you will have that expense anyhow.
In my case I am taking the BB as soon as possible but that is because I am well out of warranty so all maint is out of pocket and I will have a timing belt do before then. No way I want to come out of pocket for that. If I had a 2015 I would have gladly kept it on the road until the last minute. That would be an easy decision.
This is the best advice you'll get. That $155 per month with pretty quickly tick down, and compared to any other car you could own over that period, it will be tiny.
you have 36k miles with warranty and maintenance. Use it. You're driving it less than 1k a month? Why not drive it till it needs new tires, brakes, etc. zero maintenance cost and as you pay it down you get a larger pay out when you do turn it in. Maybe incentives down the road might be better on a trade.
For those saying keep it for the two years, well in theory that's a great idea. However in reality we have craptastic drivers in the US and I'm not a gambling man, but what happens when you get hit and it's totaled? Smaller buyback for you.
Ugh, take the buyback as soon as possible. The thing is, there won't be a fix for this thing and you'll have to sell it back eventually. In that time, you'll be making payments on a car you can't even keep. Sell it back and start on something else.
Make your own decision and stop spamming this subreddit
KBB value is meaningless. No one will buy it, I doubt dealers would even take it on trade.