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Old 08-17-2016, 07:16 AM   #21
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Okay...all these numbers seemed a lot better than mine so I needed to go back and verify what I actually paid for my car and see what the real math is.

March 2013 I paid $30,717 cash. This included taxes, tags, etc.

According to my understanding of the settlement calculations I should get $27,167 when I turn it in Sept 2018. I estimated my future mileage so as not to receive an added mileage benefit.

That's $3,550 cost and being able to drive the car from Mar '13 to Sep '18.

I prefer that VW wouldn't have cheated the system, but I don't mind the recompense for it.

Here is a handy online calculator to easily help you figure your settlement amount.

https://agrahamg.github.io/VWBuybackCalculator/
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Old 08-17-2016, 07:54 AM   #22
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Okay, you've shown me yours. I'll show you mine.

In January 2014, I bought my VW 2014 Sportwagen TDI for cash, all-in (taxes, title etc.) for $30,684.

Assuming my mileage is less than 12,500 per year (which it is), and assuming I am not entitled to any additional money for low mileage (which I'm likely not), the settlement amount I am to be given, per VW's online calculator, is $29,236. $30,684 - 29,236 = $1,448.

That's $1,448 to drive my car from January 2014 to September 2018. Since I got my car January 10, I'll exclude that month just for the heck of it. So I get 55 months of driving for $1,448, enjoying 42MPG. That boils down to $26.22/month.

There was one or two years of free routine maintenance thrown in when I bought the car. Plus, I did the Goodwill Package and got $500 VISA card plus $500 free maintenance plus extended roadside assistance. If you count that $1000, it then cost me about $448 to drive the car for 55 months. That boils down to $8.14 a month.

Yum.

I agree that VW shouldn't have cheated; but I, too, will take the best comp package I can arrange, most likely by driving right up to the September 2018 deadline.
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Old 08-17-2016, 07:54 AM   #23
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Drive carefully during the next 30 days!
That's too much pressure for me. I've parked mine until November.
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Old 08-17-2016, 08:30 AM   #24
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That's too much pressure for me. I've parked mine until November.
I would seriously most likely rent a car for a month and keep my VW garaged. That's quite a deal!
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Old 08-17-2016, 02:27 PM   #25
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Is it time to buy stock in VW yet?
I'd wait until at least December. There is still the huge fallout from Europe to be handled. There are 11 million cars affected, and this settles only the USA ones (which likely be most expensive, but still).

There are also criminal charges still pending, shareholder claims and class action suits starting left and right.

The upside isn't that big to begin with, and downside .. oh dear ..
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Old 08-17-2016, 03:04 PM   #26
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One more proof of my tag line.

I'm actually surprised this has only fairly recently become a significant problem. I theorized this many years ago - the first time I bought a house with a radio-controlled door opener. Later on, when keyless entry became a reality, I was surprised there wasn't wholesale theft. Guess it took a while for the hackers to think like I do. YMMV
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Old 08-18-2016, 07:59 AM   #27
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There is still the huge fallout from Europe to be handled. There are 11 million cars affected, and this settles only the USA ones (which likely be most expensive, but still).
Well, at least German owners get... nothing.
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Old 09-16-2016, 10:09 PM   #28
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aim-high: You appear to be right once again on the concept that there is a small window of time, outside of which a totaled VW will not affect an owner's right to the settlement payment. (Darn, you are good.):

Question 11 of settlement FAQ brochure (page 10): "Can I receive benefits if my car was totaled after September 18, 2015?" Answer: "If you owned an Eligible Vehicle that was functioning and operable as of September 18, 2015, but was subsequently totaled (and the title was transferred to an insurance company), you will be eligible for benefits under the Class Action Settlement as described in this notice.... There is one exception: if your car is totaled after June 28, 2016, but before the [class action] opt-out date (September 16, 2016), you are excluded from the settlement class...."

So the exclusion-from-payment window opened on June 28, and will close in less than a month. After that, it appears that you can drive your car till September 1, 2018, and even if your car is totalled, you can get the payment (minus any deductible under your policy, etc.) Anyone in the class should read the brochure to confirm this and make their own decision, but it appears to be so.

Thus, one could essentially use the car for a multi-year period (in my case over 4 1/2 years) and still get the full payment. That would amount to having a free car for that period or, depending on the final specifics of the payment calc, having it for maybe $100/month during that time. Wow, okay with me.

Drive carefully during the next 30 days!
FYI, TDI owners: it appears the exclusion-from-payment deadline has passed, so that you get paid even if your car is totaled from this point onward -- at least per the VW settlement FAQ brochure....
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Old 09-17-2016, 07:21 AM   #29
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FYI, TDI owners: it appears the exclusion-from-payment deadline has passed, so that you get paid even if your car is totaled from this point onward -- at least per the VW settlement FAQ brochure....
I wonder if that were to happen whether your auto insurer would deny the claim since you incurred no damage as a result of the accident if you get paid by VW.

Or perhaps, you could not take collision coverage off the car since you have no risk.
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Old 09-17-2016, 08:57 AM   #30
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As long as VW pays, I will not worry about it. Although, as you I'm sure know, I just hope (pray!) not to total it in any event, and eventually turn it in. Total = injury and PITA.
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Old 09-19-2016, 06:50 PM   #31
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Picked up a 2014 Passat on June 30th for $15,750. (from a Ford dealer) Buyback is about $24,000. Looks like I will be paying Cap Gains tax on this one.
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Old 10-20-2016, 03:30 PM   #32
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Update: Today, my VW dealer sent me a letter reminding me that I owned a VW Jetta I bought for cash in January 2014. It went on to say that "[b]ased on a zero payoff, you can get a new 2017 Volkswagen Jetta that is similarly equipped for a cash difference of only $5,922.45, plus the trade in of your vehicle." They estimate the value of my current diesel Jetta at $14,860.

Meanwhile, VW's online settlement calculator says I get $29,236 -- (value of car plus owner restitution). Plus, I can drive the current diesel through September 2018 as noted above.

So the dealer is saying they will take my diesel and give me a new car (actually a Jetta sedan, and not a Sportwagen like I now own) for $5,922.45. What a deal! HA!

Does this strike anyone else as the dealer trying to take advantage of the situation in an unbecoming way? They have to know I own a TDI diesel. They sold me the car. I know business is business, but they are trolling for dupes. And to me, that stinks.
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Old 10-20-2016, 05:43 PM   #33
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If the mgr has a loophole in their settlement policy that permits dealers to exploit customers it is on them. Could be some customers want out of their current vehicle ASAP. Are you sure you wouldn't still get restitution at a later time? I know others on the forum are involved will provide better input.
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Old 10-20-2016, 06:07 PM   #34
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Does this strike anyone else as the dealer trying to take advantage of the situation in an unbecoming way? They have to know I own a TDI diesel. They sold me the car. I know business is business, but they are trolling for dupes. And to me, that stinks.
I'm curious if the dealer could obtain your car through this "fantastic" trade-in....then get the settlement value from Volkswagen in addition to your trade? If that's the case, they're really making out. Just like the "cash for clunkers" program that they made-out on like a bandit, in selling cars for scrap value in many cases for substantial amounts more than the $4,000 the gov't was paying them.
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Old 10-25-2016, 10:50 AM   #35
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I see the judge approved the settlement. I'm not a VW owner so this doesn't affect me, but for those of you waiting until Sept 2018 to turn your car in, is there a risk that VW will go under and you'll not get the deal?
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Old 11-13-2016, 08:22 PM   #36
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From what I can fathom, there is an escrow account of $1.5 billion which needs to be replenished every time it drops to 1.25 billion. The escrow amount goes down over time proportionately, as US claimaints diminish in number.

But you raise a good point, because a running $1.5 billion escrow balance is far less than the greater-than-$10 billion to be paid to US diesel car owners. And the lawsuits outside of the class action, plus US state regulatory actions and lawsuits, plus other international regulatory actions and lawsuits, may portend a scary future for VW. I admit I am having second thoughts. I am unsure of where I will end up as of now....
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Old 11-13-2016, 09:38 PM   #37
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I see the judge approved the settlement. I'm not a VW owner so this doesn't affect me, but for those of you waiting until Sept 2018 to turn your car in, is there a risk that VW will go under and you'll not get the deal?
VW is very large and depending on the month, the top auto firm in sales, worldwide. $15 B is small potatoes. Those holding the car for the 2018 turn in risk an accident totaling the car and dealing with their insurance which will put them in a precarious position with respect to the terms of the settlement.

My Passat TDI is scheduled for turn in in December. It's parked.
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Old 11-14-2016, 06:19 AM   #38
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Darn! Time to people to get back to basic, instead of fancy-schmancy computerized stuff (I am an EE myself, but I am already retired ).

I do not need one of these though. My cars are clunkers with old-fashioned locks.

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Old 11-14-2016, 10:40 AM   #39
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My Passat TDI is parked as well. Last I heard in an email from VW they had all of my documents and I qualified for turn in. Just waiting on a time frame.
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Old 11-25-2016, 08:50 AM   #40
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Received my final offer letter this morning on my 2012 Golf TDI. $16,700 for vehicle return plus $6,326.73 restitution. $23,026.73 total. That will go to pay off the Tiguan we bought when we parked the Golf In September, which was when we realized the Golf was worth more parked than if somebody crashed into it.
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