Getting ready to have VW Buy back my Golf

I got caught up in bad timing with my lease ending and being over on my miles and VW not being able to sell me the car at the time.

So as of about a month ago my lease that ended well over a year ago went to their collections account. They offered me a percentage of my lease buyout to buy the car. Now my question is that I will have the title in my hand, will I be considered an owner or a leasee? My plans are to register the car when I get the title, then close out my settlement claim with VW. Is there anything I should know or be aware of? Thank you everyone!

They're offering you a percentage (how much?) for them to buy the car from you, i.e. they're paying you something?

Am I understanding this correctly?

If this was a lease end in which you failed to return the car at the end of the lease and it was your choice to not return the car at the end of the lease ... it was still your choice to not return the car at the end of the lease. It's still "their" car, they (as the leasing company which never sold the car to you - reason doesn't matter) still own it, and you're lucky it wasn't repossessed. How is it that "I (you) will have the title in my hand" if you didn't (weren't allowed to) buy it out at the end of the lease?

What's happening to your credit rating through this?

What "should" have happened is that you should have been treated as an eligible lessee, and they should have taken the car back (that you weren't able to buy it afterward is immaterial, that you were over mileage is immaterial) and they should have paid the restitution amount to you. I don't know if there would have had to be a deduction for being over mileage ... it's possible.

If I understand the situation correctly, you are on questionable legal and/or credit-score grounds, and if they're offering to pay you ANY non-zero amount in order to take the car off your hands, take the money and run, and let them keep the car.

Hmmm, evidently leases could be bought out, read this thread http://forums.tdiclub.com/showthread.php?t=482847

Either way, you failed to follow the proper procedures, so any way of ending this on somewhat favorable terms sounds like a win ...

I stopped paying on my lease after 6 months after my lease ended. Only was dinged with one 30 day past due. The car was never attempted to be repossessed and I dont know why. At my lease end, my only option was to turn the car in and pay excess mileage which was over $20k. Their collections department offered to close out my account for $11,000 and would send me the title vs. $16,900 that was my previous balance. This was just offered to me about a week ago.

How do you go $20,000 over mileage?

TDIforDays said:

How do you go $20,000 over mileage?

Click to expand...

That's what I was going to ask, who leases a car and then goes over to the tune of $20k?