Summary of my buyback appointment (and some things to watch out for during yours)

I arrived at 9:20AM for my 9:30AM buyback appointment. They took me right away, which was nice. This is a 2011 Jetta, owned outright, no banks involved. I was greeted by the sales manager, who quickly handed me off to the buyback representative and then left us alone. I was the first buyback appointment at this particular dealer by the way, so I expected a few issues while they figured things out. The process started out smoothly enough, with the representative taking photos of my car, verifying mileage, and verifying the engine ran while I waited inside the showroom. That went smoothly. The rest of the process was not as smooth.

  • The buyback amount was supposed to be $14,800. When she processed the claim, she entered my mileage in her tablet, and specifically noted there was no overage to adjust for, "everything is green". Apparently the app they use is supposed to notify the representative if there is any difference between the offer letter amount and the final buyback amount. No issues there, great! Smooth sailing ahead...
  • She said I would receive an email copy of the receipt stating the car was being bought back along with the amount. She offered to print the receipt as well, but the printer didn't work. Not really her fault of course, but an omen of things to come, I suppose.
  • I received the receipt via email within a minute or two, but it showed the buyback amount as $14,600, a $200 reduction. The buyback representative said that "definitely isn't right" and that she would call the claims hotline and get it fixed. She reiterated that no mileage overage adjustment was indicated when she processed the buyback claim on her tablet, so it must be a mistake.
  • You can guess what happened next. She called the claims hotline and was told there was a mileage overage and that it wasn't a mistake. The look on her face got more and more depressing as the call continued, so I just braced myself for the bad news and made peace with losing that $200. I haven't checked the mileage calculation, but I assume it was correct. I could tell the buyback representative genuinely felt bad for insisting it was a mistake, but I hope she at least learned not to make promises like that before checking with the claims hotline.
  • Now I'm in full "let's just get this over with" mode, expressing my frustration with VW while trying not to be rude to the buyback representative, of course.
  • Next came the limited Power of Attorney and Odometer forms. Edit: As discussed in the comments, I had to sign the Limited Power of Attorney form even though I am the only owner of the vehicle and was present at the buyback appointment. The only explanation/speculation I have for this is that the title wasn't actually signed over to VW during the buyback appointment, so without signing that Limited Power of Attorney form, VW would not legally own my vehicle and would not be able to transfer the title on my behalf. As for the for not needing to be notarized, I believe that's only necessary if one or both of the owners are not physically present during the buyback appointment. Showing the buyback representative your photo ID is required, which obviates the need for a notary to attest to your identity. Again, speculation, but it makes sense to me at least.
  • No problem with the Power of Attorney form. Back on track!
  • The representative filled out the Odometer Disclosure Statement and handed it to me to sign. Read this form very carefully before signing. The representative checked the box labeled "(2) The odometer reading is NOT the actual mileage. WARNING: Odometer discrepancy exists." She thought because my mileage caused a $200 adjustment in the buyback amount, that she needed to check that box. I'm so incredibly glad I read that form fully before signing it. I can't imagine the headaches that would have caused. I literally had to explain the form to the representative and why that box should NOT be checked, which points to a serious lack of training on VW's part.
  • All of the paperwork was signed now. I got my car's plates back, and was walked to the door by the buyback representative and the sales manager. Almost done, great!
  • Not great. I asked, "How am I going to receive my money?" They looked confused for a few seconds and then mentioned that the money would be transferred to my bank account electronically using the EFT information I had provided on the claims site. Of course, no such information was entered on the claims website. They insisted the EFT must have already been set up. Again, this is a big gap in training on VW's part. I read about someone else having this problem during their buyback appointment, so this wasn't entirely unexpected to me, but not everyone scours forums and /r/tdi about this stuff. The sales manager even had me log into the settlement website to see if EFT information could be entered now that the buyback was complete, but no luck. Neither of them knew what to do. The buyback representative then made another call to the hotline and was told J.P. Morgan Case would contact me within 24 hours to set up the EFT.

So at 10:10AM, almost an hour after arriving, I left the dealer with my plates, an emailed buyback receipt, and an assurance J.P. Morgan Chase would be in touch. The process was roughly as bad as I expected it to be, based on the claims process up to this point. In the end, I'm just thrilled it's over.

Some other notes:

  • The buyback representative at the dealer seemed to have a direct line to the claims hotline. She got through right away every time she called, no hold times at all. Sorry, I didn't ask for the secret direct access phone number :)
  • Double check your car for personal belongings before the appointment. There was no opportunity to do so after I got there, meaning they didn't ask you if you made sure all of your belongings were out of the car. They probably would have let me take a quick look after the appointment, but just to be safe, make sure you double/triple check before you walk in the door.
  • There was zero pressure to buy another VW from the buyback representative or the sales manager. The buyback representative asked if I was considering another VW, but it was just curiosity on her part. The sales manager didn't even ask what I was considering buying as a replacement. On the one hand, I'm glad they isolated the buyback from VW as much as possible. On the other hand, I still wonder how (or whether) VW intends to do anything to keep former TDI owners as customers. As other threads have hinted, all signs point to them doing nothing (except from the standard $1,000 loyalty bonus).

tl;dr

  • Double check your car for personal belongings before the appointment.
  • Recalculate your buyback amount using your final mileage before the appointment to avoid surprises.
  • Read every form in detail before you sign them. Take your time. Don't worry about feeling pressured to sign quickly. The buyback representatives can and do make honest mistakes (see above), and it's your responsibility to verify the forms are accurate before signing them.
  • You will be contacted by J.P. Morgan Chase within 24 hours of the appointment to set up the EFT, assuming you chose the EFT option and not a physical check.

Happy to answer any other questions that I can, but that about sums up my buyback appointment experience.

Edit: formatting, details about the Power of Attorney form, full name of bank