Gberg has a VW problem

[wap]

Got an email from VW today and due to the coronavirus I have to keep making payments on the misfiring

I will be reimbursed by VW but because their office is shut down they can't mail the payoff check to capital one.

Tell VW to suck it and send a wire.

[fledonfoot]

It is when the bank hasn’t been paid. The loan is still in his name. Shady dealers do this and ruin people’s credit on the regular.

Why wouldn't a notarized copy of the buy back be sufficient?
That's on the bank and VW. He is no longer the owner, officially.

He may not “own” the car, but the loan is still open in his name. The loan is to be paid off by VWoA (or usually the dealer with a regular trade in) on his behalf. That’s why you sign a POA a handful of times, and that’s why they called him and told him to keep making payments so they don’t destroy him financially.

Capital One don’t give a fuck who “owns” or has possession of the car... they just want their money. Until Capital One send him a letter confirming the car is paid off, he’s responsible for it per the contract signed at delivery.

I have seen this happen several times with shady third party leasing companies that juiced residuals on cars. One third party leasing company a few years ago was residualizing Tacomas at 85-90% due to their insane values. Customers would turn in their leases at lease end, get something else, and the leasing company would never arrange for pickup or close out the loans because they were losing their asses selling the things... People would show open lines that were 120+ days late and still open past maturity with no return of the collateral. Credit destroyed. Shady as fuck.

[max225]

Why wouldn't a notarized copy of the buy back be sufficient?
That's on the bank and VW. He is no longer the owner, officially.

He may not “own” the car, but the loan is still open in his name. The loan is to be paid off by VWoA (or usually the dealer with a regular trade in) on his behalf. That’s why you sign a POA a handful of times, and that’s why they called him and told him to keep making payments so they don’t destroy him financially.

Capital One don’t give a fuck who “owns” or has possession of the car... they just want their money. Until Capital One send him a letter confirming the car is paid off, he’s responsible for it per the contract signed at delivery.

I have seen this happen several times with shady third party leasing companies that juiced residuals on cars. One third party leasing company a few years ago was residualizing Tacomas at 85-90% due to their insane values. Customers would turn in their leases at lease end, get something else, and the leasing company would never arrange for pickup or close out the loans because they were losing their asses selling the things... People would show open lines that were 120+ days late and still open past maturity with no return of the collateral. Credit destroyed. Shady as fuck.

Damn that’s completely fked.

I’m just trying to understand this... in theory he isn’t responsible as the agreement was reached and notarized so if they decide to fuck him he can take them to court. In Practice it may be much easier to pay and shut up

[Desertbreh]

He may not “own” the car, but the loan is still open in his name. The loan is to be paid off by VWoA (or usually the dealer with a regular trade in) on his behalf. That’s why you sign a POA a handful of times, and that’s why they called him and told him to keep making payments so they don’t destroy him financially.

Capital One don’t give a fuck who “owns” or has possession of the car... they just want their money. Until Capital One send him a letter confirming the car is paid off, he’s responsible for it per the contract signed at delivery.

I have seen this happen several times with shady third party leasing companies that juiced residuals on cars. One third party leasing company a few years ago was residualizing Tacomas at 85-90% due to their insane values. Customers would turn in their leases at lease end, get something else, and the leasing company would never arrange for pickup or close out the loans because they were losing their asses selling the things... People would show open lines that were 120+ days late and still open past maturity with no return of the collateral. Credit destroyed. Shady as fuck.

Damn that’s completely fked.

I’m just trying to understand this... in theory he isn’t responsible as the agreement was reached and notarized so if they decide to fuck him he can take them to court. In Practice it may be much easier to pay and shut up

dis.

[Johnny_P]

sorry my man. You have horrible VW luck.

[fledonfoot]

He may not “own” the car, but the loan is still open in his name. The loan is to be paid off by VWoA (or usually the dealer with a regular trade in) on his behalf. That’s why you sign a POA a handful of times, and that’s why they called him and told him to keep making payments so they don’t destroy him financially.

Capital One don’t give a fuck who “owns” or has possession of the car... they just want their money. Until Capital One send him a letter confirming the car is paid off, he’s responsible for it per the contract signed at delivery.

I have seen this happen several times with shady third party leasing companies that juiced residuals on cars. One third party leasing company a few years ago was residualizing Tacomas at 85-90% due to their insane values. Customers would turn in their leases at lease end, get something else, and the leasing company would never arrange for pickup or close out the loans because they were losing their asses selling the things... People would show open lines that were 120+ days late and still open past maturity with no return of the collateral. Credit destroyed. Shady as fuck.

Damn that’s completely fked.

I’m just trying to understand this... in theory he isn’t responsible as the agreement was reached and notarized so if they decide to fuck him he can take them to court. In Practice it may be much easier to pay and shut up

In theory that’s how it’s presented.

In practice the dealer (or VWoA in this case) has agreed to pay off the car with their own funds in GBerg’s name. They have a notarized agreement to do so along with a signed power of attorney to make it happen.

The agreement doesn’t say they take on the debt. They promise to pay it off before it becomes an issue, which is why you get a 10 day payoff.

It just became an issue. They can’t complete the payment.

He could take VWoA to court, sure. The financial obligation is between capital one and him. It won’t unwind the damage to his credit, which could very quickly turn into a default on a car loan.

[D Griff]

Wow. Sorry GBerg, that blows man. I’m sure they’ll ultimately do right by it... but

[goIftdibrad]

He may not “own” the car, but the loan is still open in his name. The loan is to be paid off by VWoA (or usually the dealer with a regular trade in) on his behalf. That’s why you sign a POA a handful of times, and that’s why they called him and told him to keep making payments so they don’t destroy him financially.

Capital One don’t give a fuck who “owns” or has possession of the car... they just want their money. Until Capital One send him a letter confirming the car is paid off, he’s responsible for it per the contract signed at delivery.

I have seen this happen several times with shady third party leasing companies that juiced residuals on cars. One third party leasing company a few years ago was residualizing Tacomas at 85-90% due to their insane values. Customers would turn in their leases at lease end, get something else, and the leasing company would never arrange for pickup or close out the loans because they were losing their asses selling the things... People would show open lines that were 120+ days late and still open past maturity with no return of the collateral. Credit destroyed. Shady as fuck.

Damn that’s completely fked.

I’m just trying to understand this... in theory he isn’t responsible as the agreement was reached and notarized so if they decide to fuck him he can take them to court. In Practice it may be much easier to pay and shut up

I suspect this is the way.

who is the new loan through? same bank or vwoa?

whatever you do I'd get something in writing.

I'm sorry man, I'd be so, so, so super pissed making payments on 2 fucking cars, one of which I traded in.

[razr390]

Gberg any way to call the creditor on your current egg and ask if they can push back payments due to some hardship because of the ‘rona? Then just pay the old egg’s until it blows over

[Gberg2119]

Damn that’s completely fked.

I’m just trying to understand this... in theory he isn’t responsible as the agreement was reached and notarized so if they decide to fuck him he can take them to court. In Practice it may be much easier to pay and shut up

I suspect this is the way.

who is the new loan through? same bank or vwoa?

whatever you do I'd get something in writing.

I'm sorry man, I'd be so, so, so super pissed making payments on 2 fucking cars, one of which I traded in.

New loan is through a local credit union. Loan on the old R is through Capital One.

I emailed VWoA to see if the reimbursement checks would be delayed too and that's been confirmed. So now I'm really pissed. I thought maybe I'd have to make a payment and they'll send the check out a few days later. With corona, who knows when this shit will end and I'll get my money back.

Gberg any way to call the creditor on your current egg and ask if they can push back payments due to some hardship because of the ‘rona? Then just pay the old egg’s until it blows over

I'm going to. Capital One's phone lines open in a few minutes so I'll call them.

[Gberg2119]

Wow. I can't even get through to capital one. All circuits busy.

[Gberg2119]

Oh the irony. They can't mail the check because of the coronavirus but I'm still expected to make payments.

[max225]

Oh the irony. They can't mail the check because of the coronavirus but I'm still expected to make payments.

I’m sorry man

[Gberg2119]

Yeah, this is certainly an unfortunate result of current circumstances.

Nothing to do but pay it in the meantime until they can reimburse you. I'd also notify Capital One ASAP of the situation.

Trying to call them periodically throughout the day but I can't even get through. Not even the automated stuff is working.

My VW rep emailed me back and said she's working with her managers to see what they can do.

[Johnny_P]

Yeah, this is certainly an unfortunate result of current circumstances.

Nothing to do but pay it in the meantime until they can reimburse you. I'd also notify Capital One ASAP of the situation.

Trying to call them periodically throughout the day but I can't even get through. Not even the automated stuff is working.

My VW rep emailed me back and said she's working with her managers to see what they can do.

Maybe they can pay your car off like they’re contractually obligated to?

[max225]

We're saying 1/2 of california has the Virus..

https://www.latimes.com/california/stor ... oronavirus

we all gonna die people... all boomers gone, all anarchy... all death .

[D Griff]

Yeah, this is certainly an unfortunate result of current circumstances.

Nothing to do but pay it in the meantime until they can reimburse you. I'd also notify Capital One ASAP of the situation.

Trying to call them periodically throughout the day but I can't even get through. Not even the automated stuff is working.

My VW rep emailed me back and said she's working with her managers to see what they can do.

Yeah I spent a total of 6 hours on hold with Amex... but at least they’re still manning the phones as best they can.

[Johnny_P]

Maybe they can pay your car off like they’re contractually obligated to?

Yeah, except for the whole coronavirus thing. Bit of a snag.

One way snag. Somehow Gberg can cut a check and giant VW Corp can’t. Yet if he says oh virus something something sorry VW Credit I cant cut you a check today the banks have no problem ruining his life.

[Gberg2119]

Trying to call them periodically throughout the day but I can't even get through. Not even the automated stuff is working.

My VW rep emailed me back and said she's working with her managers to see what they can do.

Yeah I spent a total of 6 hours on hold with Amex... but at least they’re still manning the phones as best they can.

I'll give them a shot again tomorrow. I'm fully expecting to sit on hold for hours only for them to tell me there's nothing they can do about it.

Yeah, except for the whole coronavirus thing. Bit of a snag.

One way snag. Somehow Gberg can cut a check and giant VW Corp can’t. Yet if he says oh virus something something sorry VW Credit I cant cut you a check today the banks have no problem ruining his life.

For some stupid reason they have to physically mail the payoff check to capital one.

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[D Griff]

Yeah I spent a total of 6 hours on hold with Amex... but at least they’re still manning the phones as best they can.

I'll give them a shot again tomorrow. I'm fully expecting to sit on hold for hours only for them to tell me there's nothing they can do about it.

One way snag. Somehow Gberg can cut a check and giant VW Corp can’t. Yet if he says oh virus something something sorry VW Credit I cant cut you a check today the banks have no problem ruining his life.

For some stupid reason they have to physically mail the payoff check to capital one.

Sent from my Pixel 3 XL using Tapatalk

is right. Some of these banks/financial entities operate like it's 1985. Like, how in the fuck can't an electronic payment be issued from someone working remotely. This particular "issue" shouldn't be impacted by the virus. It's

[Gberg2119]

I'll give them a shot again tomorrow. I'm fully expecting to sit on hold for hours only for them to tell me there's nothing they can do about it.


For some stupid reason they have to physically mail the payoff check to capital one.

Sent from my Pixel 3 XL using Tapatalk

is right. Some of these banks/financial entities operate like it's 1985. Like, how in the fuck can't an electronic payment be issued from someone working remotely. This particular "issue" shouldn't be impacted by the virus. It's

Indeed. Been waiting on hold for about 45 minutes as of now.

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[Gberg2119]

As we suspected. Capital one basically told me it's not their problem and to keep making payments.

[wap]

As we suspected. Capital one basically told me it's not their problem and to keep making payments.

MOTHER FUCKER

[CorvetteWaxer]

As we suspected. Capital one basically told me it's not their problem and to keep making payments.

I had this happen on my BMW trade. I had to pay 2 payments before the Chevy dealer paid it off. At least you will get that money back later... I know it doesn't help now though. At least you don't have to pay taxes until July now.

[Gberg2119]

As we suspected. Capital one basically told me it's not their problem and to keep making payments.

I had this happen on my BMW trade. I had to pay 2 payments before the Chevy dealer paid it off. At least you will get that money back later... I know it doesn't help now though. At least you don't have to pay taxes until July now.

Why the hell were they so slow? That's disgraceful.

Hopefully it only ends up being one payment and the coronavirus stuff ends in a week or two. VWoA emailed me this morning to say they're still looking into wiring the funds to me after the payment is made.

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