Nope. That isn't how it works. You need to go to
https://www.vwsettlement.com and fill in the information and basically stake your claim. They ask a bunch of questions. The cash incentive is included in the final amount...So, for example, my car's value is say $20621.33, and the cash incentive for my vehicle is $7100.00. That is a total value of $27721.33. But, my loan amount that I still owe is $25600.00. That mean s when I give my car back for the buy back, I walk away with $2121.33. That's if I turned my car in today. Now, since they really are not buying back vehicles until this fall (my date is November 1), that means that I will make a couple more payments on the car, and I will put more miles on the car. More miles on the car could possibly mean that my car's value is less, because I will be causing depreciation in mileage as I continue to drive it over the next couple of months. But, my loan amount will go down, and I am basically getting those payments back. When you take your car in to have them buy it back, they will either write you a check for your difference on the spot or they will EFT it to your bank account. That all being said, if you have any questions about all of it because I just confused you, email me at
shelbileigh@hotmail.com. My brother and I have this whole thing as figured out as we could possibly get it.
That being said, because of the number of miles I drive per month, I was going to start losing money back to VW if I kept driving my car after Sept. 1. So, a week ago, I bought a new car. I got a 2016 Ford Fusion Energi, and I love it. It has the nice hefty feel of a German car, but it a plug-in Hybrid so my mileage per gallon will be close to what I was getting in my Jetta TDI. My Jetta is now basically sitting for the next 3 months. I still have full insurance coverage on it because I am going to drive it to the airport for a couple of trips I am taking, but once those are complete, I will park it in my driveway and put the car as storage and comprehensive only.
My Great Dane fits beautifully in the backseat of the Fusion. It is really so much larger than the Jetta. I was really surprised. I am really happy with my decision at this point. And, really kind of mad at VW in general. It was a pain, and I was so stressed out about all of it. In the end, I got an amazing car for an amazing deal, and I am paying less per month than I paid for my 2015 Jetta.