I have 2009 VW Jetta TDI. Because VW put cheat software in these diesel cars, they are being forced to either buy the vehicles back or provide a fix with $5,000 compensation to the owners. I initially wanted to sell it back for the $13,500 they are offering and buy a used car, but now I am wondering which decision is financially smarter. Here's why.
My car has 114,000 miles on it. Seems like a lot, but these cars were meant to last for a long time, and I believe I can get at least another 100k out of it. It's in great shape mechanically and cosmetically, never been in a wreck, and I have been the only owner of this car. Also, it cost 28k new, and has a lot of options.
Now, I tend to drive cars until the wheels fall off, so even though VW is offering to buy back the car, taking the offer would actually be forcing me into buying another vehicle, which is something I didn't even plan on doing. In fact, if I were to buy a new vehicle, or even a used vehicle for more than the $13,500 they are offering for mine, it seems like that would be a poor financial decision on my part, but that is exactly what some of my friends and many other people are doing, so maybe I am missing something.
As far as I can see it, the best financial decision for me is to either keep the vehicle and collect the $5,000 in exchange for having my car modified to meet EPA standards, or buy a cheaper used vehicle and pocket the rest. Since you guys provide such great advice on this subreddit, and since there are at least 500,000 of us with these diesels in a similar situation, I would greatly appreciate any advice or additional perspectives on whether or not to take the offer, trade for a cheaper vehicle and invest the difference, or keep the car and collect 5k.
The kid in me wants to buy a used Nissan Xterra with 100k miles for 7,000 and invest the difference. But maybe that isn't the best decision?
Submitted January 08, 2017 at 05:14PM by car_noob_cheap_bstrd http://ift.tt/2jitOpN
