Financed Purchase Through VW Credit

stevenr3stevenr3 Member Posts: 1
edited September 2015 in Volkswagen
VW CREDIT IS OWNED BY VOLKSWAGEN
I HAVE 27 payments remaining on my 2012 Jetta tdi
Because I feel so victimized...I plan on stopping the payments and let them repossess car
ANY SUGGESTIONS OR RAMIFICATIONS OF THAT MOVE
I WOULD FEEL LIKE A SUCKER TO CONTINUE PAYING THEM FOR THEIR MISREPRESENTATION
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  • kyfdxkyfdx Moderator Posts: 190,777
    edited September 2015
    stevenr3 said:

    VW CREDIT IS OWNED BY VOLKSWAGEN
    I HAVE 27 payments remaining on my 2012 Jetta tdi
    Because I feel so victimized...I plan on stopping the payments and let them repossess car
    ANY SUGGESTIONS OR RAMIFICATIONS OF THAT MOVE
    I WOULD FEEL LIKE A SUCKER TO CONTINUE PAYING THEM FOR THEIR MISREPRESENTATION

    If you don't live up to the terms of your contract with the bank, then you'll suffer the consequences. No matter how you feel about it, your loan from VW Credit has nothing to do with your purchase from your VW dealer.

    You have no leverage and the only thing that will be harmed is your credit rating and your financial well-being.

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  • thebeanthebean Parts UnknownMember Posts: 1,153
    +1. You can only hurt yourself if you default on the lease.  At least you didn't purchase it.  You would have been well and truly screwed then.  
    2015 Honda Accord EX, 2019 Honda HR-V EX
  • kyfdxkyfdx Moderator Posts: 190,777
    thebean said:

    +1. You can only hurt yourself if you default on the lease.  At least you didn't purchase it.  You would have been well and truly screwed then.  

    I don't think it's a lease. It's a 2012 and he has 27 payments left.

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  • MichaellMichaell ColoradoModerator Posts: 186,068
    kyfdx said:

    stevenr3 said:

    VW CREDIT IS OWNED BY VOLKSWAGEN
    I HAVE 27 payments remaining on my 2012 Jetta tdi
    Because I feel so victimized...I plan on stopping the payments and let them repossess car
    ANY SUGGESTIONS OR RAMIFICATIONS OF THAT MOVE
    I WOULD FEEL LIKE A SUCKER TO CONTINUE PAYING THEM FOR THEIR MISREPRESENTATION

    If you don't live up to the terms of your contract with the bank, then you'll suffer the consequences. No matter how you feel about it, your loan from VW Credit has nothing to do with your purchase from your VW dealer.

    You have no leverage and the only thing that will be harmed is your credit rating and your financial well-being.
    And, you won't have a car to drive - and it will be more difficult to finance a new one.

    Be patient ... I'm pretty sure some sort of compensation is coming, but it may take a while for VW to determine exactly what that is.

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  • thebeanthebean Parts UnknownMember Posts: 1,153
    kyfdx said:
    +1. You can only hurt yourself if you default on the lease.  At least you didn't purchase it.  You would have been well and truly screwed then.  
    I don't think it's a lease. It's a 2012 and he has 27 payments left.
    You're right.  I didn't pay close enough attention.  Thanks for the correction.  I also think I overstated his condition.  It should be OK once the fix is done, provided he keeps it for a while.  
    2015 Honda Accord EX, 2019 Honda HR-V EX
  • carboy21carboy21 Member Posts: 760
    edited September 2015
    Don't cut your nose to spite your face. Keep the car and wait for the compensation. If you default, you will never get a loan or lease again .
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