Anything about a VW fix is conjecture. The talk about not being able to make my generation VW compliant is from various 'News Outlets'.
If I'm self righteous then you are arrogant in all your presumptions. I can live with my self-righteous tone.
Arrogance is telling someone that purchased product A only to find out they actually got product B that they are whiny hypocrites when they have the audacity to actually speak their mind on the matter.
In the end my Jetta is paid off, it drives, it's resale value took a good hit, so I and 482,000 others basically are upside down in a vehicle in the real sense that they paid and owe more than it's worth.
I've already spoke with people that recently purchased that let the bank already have the car back.
Let's switch it up a bit. How many automakers game the EPA fuel economy rating protocols to show the best possible results on the EPA tests? I'll answer for you. ALL of them! Just one example,
I don't know anyone who owns a Toyota Prius who gets anywhere near the EPA fuel mileage numbers in real-world driving. Millions have purchased Priuses, paying a substantial premium for its "hybrid synergy technology," expecting a windfall in fuel savings, only to discover that their 21st century wonder doesn't get that much better mileage than the old Corolla they traded in to get it. In fact, it doesn't save enough in fuel over the normal lifespan of the vehicle to justify the price premium they paid.
This is a classic example of buying and expecting car A and instead getting car B. Should Prius owners sue to force Toyota to buy them back?
I don't know anyone whose new car does as well in real-world driving as their EPA fuel numbers. Is that fraud?
I just want to see where your head is, here.
The definition of being "upside down" on a car means that the car is worth less that the money still owed on the loan used to buy it.
Since your car is paid for, it doesn't meet that definition. A resale value that is less than you hoped for is not the same.
As for "paid and owe more than it's worth," of COURSE you paid more than it's worth. The down payment plus loan amount plus interest is ALWAYS more than the car is worth from the minute you drive it off the lot! And it only gets worse over time.
A car is not real estate nor is it any kind of investment. A car is a consumer product that is used up and eventually discarded. You will NEVER, even under the best conditions get your money out of it. You will ALWAYS take a hit.
You've paid the car off. If you sell it now, the amount you get for it may not be what you hoped, but it is essentially gravy.
I really don't see how you have been damaged. Not enough to justify the cost and headache of a lawsuit. And beware of class-action lawsuits. Typically, the lawyers make a killing, but the many complainants get pennies on the dollar. A real scam. Beware when law firms advertise their class-action law suits on TV. Avoid it like ebola.
As for those who are still paying for their cars, they will be upside down for most of the duration of their loan term in any case, until what they still owe is less than the car's market value.
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