by "Steven Lang" (StevenLang)
Published 01/06/2017 at 16:38
by "Steven Lang" (StevenLang)
Published 01/06/2017 at 16:38
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STARS: 4
A few months ago, I saw a 2011 VW Jetta TDI roll through the auction block that was worth more dead than alive.
This repo looked like it got into a fight - and lost. The front bumper was smashed in. One of the rear doors couldn’t even be opened. The wore out leather seats had been ripped and stained to the point where no sane person would have bid more than $2500 for it.
The bidding on this piece of Euro-junk started up at $3500 and zoomed all the way to nearly twice the reserve price.
This never happens at dealer auctions. Everyone is fairly aware of how much a used vehicle is approximately worth. As a long-time auto auctioneer for years, my weekly paycheck was based on selling cars as quickly as possible. A full minute on the block for this rolling turd turned into that often feared unproductive time suck when you have to use 200 words to sell 1 crap car.
This event at the auction was unusual enough for me to make note of it on Facebook. That Jetta ended up selling for an eye popping $6700- plus the auction fee which was about $300.
A few days later I received an email from a dealer who frequents my Facebook feed . He PM’d me a certified letter from VW that they are going to give him a check for over $18,000 on a car he bought for less than half that price just a couple of months ago. After reading my post about what took place that day, he bought one at a dealer auction shortly thereafter.
Then I got a real bombshell. One guy in my neck of the woods has bought 216 of them!
!!! UNKNOWN CONTENT TYPE !!!
"Steve in Manhattan" (blogenfreude01)
01/06/2017 at 16:42, STARS: 7
This could end very very badly.
"For Sweden" (rallybeetle)
01/06/2017 at 16:47, STARS: 1
The settlement payout is significantly lower for anyone who bought these cars after Sept. 2015.
"Bman76 (hates WS6 hoods, is on his phone and has 4 burners now)" (bman76-4)
01/06/2017 at 16:49, STARS: 4
When you try to game the system you either win big or get seriously burnt.
"Steven Lang" (StevenLang)
01/06/2017 at 16:50, STARS: 1
You’re absolutely right.
"Steven Lang" (StevenLang)
01/06/2017 at 17:07, STARS: 4
As I wrote not too long ago,
“I wasn’t the least bit surprised that the cheaters at Volkswagen were getting cheated by those who knew how to cheat. This is the car business, where swindlers will swindle, most fees are bogus, and the marketplace rewards the clever while punishing the naive.”
"pip bip - choose Corrour" (hhgttg69)
01/06/2017 at 17:26, STARS: 0
interesting article.
"Steve in Manhattan" (blogenfreude01)
01/06/2017 at 20:51, STARS: 1
On the bright side - you’d have parts cars for the rest of your life.