VW TDI EPA Recall (2.0L and 3.0L)

xylene · Feb 1, 2017

Another fun fact.... Pro-Rated Extended Warranty Refunds. Many consumers who
purchased “Clean Diesel” vehicles also bought expensive extended
warranties or service plans that they cannot use after Volkswagen buys
back their car. The FTC Order provides consumers with pro-rated refunds
for the unused portions of service contracts or extended warranties.13

Stabone33 · Feb 1, 2017

xylene said:
Model Years 2009-2012
With respect to older cars, the FTC Order requires Volkswagen to offer to buy back all
3.0-liter TDI engine vehicles from model years 2009-2012. The buyback has important
consumer-friendly features:
 The buyback prices are based on retail1 prices in September 2015—
approximately two months before it became clear that the defeat device
scandal affected 3.0-liter vehicles.2
 In addition to September 2015 Clean Retail, consumers will receive a
restitution payment to compensate for their economic losses. See Ex. A
(listing approximate restitution ranges).
Importantly, consumers will receive September 2015 retail value (plus compensation) even if
Volkswagen does not repurchase their cars until as late as 2019.3

Once gain everything you really want is here... even a doc to help you calculation your proposed payment.
https://www.ftc.gov/enforcement/case...up-america-inc

It's on vwcourtsettlement.com also. Example table posted a few posts before yours.

OK, so previously we assumed November 2015 clean retail. Can someone pull NADA values for September 2015? I don't expect they'll be much different, but they could be a grand or so.

NitsujNella · Feb 1, 2017

Stabone33 said:
there's something that mentions "loan forgiveness" in the court document. I don't know what that means in context since mine is paid off, so I recommend you check the links and look into that in detail.

Thanks for the doc Stabone33...here's the excerpt pertaining to people who owe LESS than what the proposed buyback amount is. TLDR; they subtract what you owe from the buyback amount and pay the remainder to you.

Treatment of Loan Obligations for Class Members Selecting a Buyback
20. Loan Obligations. Loan Obligation refers to any debt incurred by an Eligible Owner
and secured by an Eligible Vehicle, whether through VW Credit, Inc., Porsche
Financial Services, Inc., or any other lender. If the Eligible Vehicle of an Eligible
Owner choosing the Buyback is subject to an outstanding Loan Obligation in an
amount less than or equal to the Buyback Amount, Volkswagen shall pay to the
Eligible Owner’s lender the portion of the Buyback Amount required to pay off the
Loan Obligation and shall pay to the Eligible Owner any remaining portion of the
Buyback Amount.
Example: An Eligible Owner of an Eligible Vehicle that she acquired on or before
September 18, 2015 chooses the Buyback and surrenders her vehicle on July 1, 2018.
The Vehicle Value is $23,000 and the Owner Restitution is $7,000, for a total
Buyback Amount of $30,000. The Eligible Owner has a Loan Obligation of $10,000,
- 8 -
so Volkswagen pays $10,000 to the lender and the remaining $20,000 directly to the
Eligible Owner.

Mythdoc · Feb 1, 2017

Well, I expected about $7000 penalty payment for my 2011 Treg. What I didn't expect was another 1500 from Bosch. Now, if I am reading correctly, the Audi Q5 TDI I just purchased last week is eligible for a minimum half penalty payment when I bring it in for the fix....? Someone tell me if I am wrong....?

I still see gen 2 vehicles around, here and there. There may be a run on purchasing them while the news is filtering out.

xylene · Feb 1, 2017

Stabone33 said:
It's on vwcourtsettlement.com also. Example table posted a few posts before yours.

OK, so previously we assumed November 2015 clean retail. Can someone pull NADA values for September 2015? I don't expect they'll be much different, but they could be a grand or so.

Thanks. When I originally posted the info hours ago they didn't have all the details yet like on the FTC site... No worries.

Stabone33 · Feb 1, 2017

Wow, do I feel bad for the 2.0 owners. This is WAY better than what they got.

BenTDI · Feb 1, 2017

This is like a lifetime of birthday and holiday presents from VW and Bosch.

Thanks for the cheats VW.

Stabone33 · Feb 1, 2017

NitsujNella said:
Thanks for the doc Stabone33...here's the excerpt pertaining to people who owe LESS than what the proposed buyback amount is. TLDR; they subtract what you owe from the buyback amount and pay the remainder to you.

Treatment of Loan Obligations for Class Members Selecting a Buyback
20. Loan Obligations. Loan Obligation refers to any debt incurred by an Eligible Owner
and secured by an Eligible Vehicle, whether through VW Credit, Inc., Porsche
Financial Services, Inc., or any other lender. If the Eligible Vehicle of an Eligible
Owner choosing the Buyback is subject to an outstanding Loan Obligation in an
amount less than or equal to the Buyback Amount, Volkswagen shall pay to the
Eligible Owner’s lender the portion of the Buyback Amount required to pay off the
Loan Obligation and shall pay to the Eligible Owner any remaining portion of the
Buyback Amount.
Example: An Eligible Owner of an Eligible Vehicle that she acquired on or before
September 18, 2015 chooses the Buyback and surrenders her vehicle on July 1, 2018.
The Vehicle Value is $23,000 and the Owner Restitution is $7,000, for a total
Buyback Amount of $30,000. The Eligible Owner has a Loan Obligation of $10,000,
- 8 -
so Volkswagen pays $10,000 to the lender and the remaining $20,000 directly to the
Eligible Owner.

makes sense....

NitsujNella · Feb 1, 2017

Stabone33 said:
makes sense....

Which is interesting because my lender is VW so they are paying themselves back :surprise:

Stabone33 · Feb 1, 2017

I8ABUG said:
Ok for us Gen 1 Owners the way I read it, we get:

1. September NADA Clean Retail including options and mileage adjustment - Does anyone have the September NADA Values?
2. Plus Taxes based on our State.
3. Plus $ 5,155
4. Plus the amount Clean Retail exceeds Vehicle Value? - How do we calculate this?

OK, so reading the document closer, at the time of turn-in, there will be a NADA clean retail value specified, which will reflect the diminished value from dieselgate, etc. So, if you turn your car in on August 2018, your car, regardless of condition, will be assessed the Vehicle Value based on the NADA clean retail value, adjusted for options and mileage, reflected in August 2018. The difference between Setpember 2015 NADA clean retail and August 2018 NADA clean retail, will be the "variable amount" referenced in the formula.

Stabone33 · Feb 1, 2017

NitsujNella said:
Which is interesting because my lender is VW so they are paying themselves back :surprise:

They're actually "losing" money (technically not making any *more* money) because you won't be paying them any interest on the remaining principal on your loan.

xylene · Feb 1, 2017

https://www.ftc.gov/enforcement/cases-proceedings/162-3006/volkswagen-group-america-inc

Actually this is where there is still more detailed charts. The VW website is the user friendly version for VW owners but all the dirt and tables ect for all makes and models of 3.0L is here...

alfissimo · Feb 1, 2017

Nada values:

http://www.clubtouareg.com/forums/f89/vw-tdi-epa-recall-2-0l-and-3-0l-216585-778.html

Stabone33 · Feb 1, 2017

alfissimo said:
Nada values:

http://www.clubtouareg.com/forums/f89/vw-tdi-epa-recall-2-0l-and-3-0l-216585-778.html

Those are November values. Need September values.

I8ABUG · Feb 1, 2017

Stabone33 said:
OK, so reading the document closer, at the time of turn-in, there will be a NADA clean retail value specified, which will reflect the diminished value from dieselgate, etc. So, if you turn your car in on August 2018, your car, regardless of condition, will be assessed the Vehicle Value based on the NADA clean retail value, adjusted for options and mileage, reflected in August 2018. The difference between Setpember 2015 NADA clean retail and August 2018 NADA clean retail, will be the "variable amount" referenced in the formula.

Will it really reflect a "Diminished Value from Dieselgate"? Since the buyback amounts have been released by the courts, why would the NADA amount at time of turn in be significantly different from the buyback amount?

Bluetori · Feb 1, 2017

Ok so I'm a bit confused on this, my wife owns a 12' TDI sport, is there any extra payment for buying back? If I'm seeing this right if you keep it and fix it you get the approved emission modification amount?

Stabone33 · Feb 1, 2017

I8ABUG said:
Will it really reflect a "Diminished Value from Dieselgate"? Since the buyback amounts have been released by the courts, why would the NADA amount at time of turn in be significantly different from the buyback amount?

It already does. Look at depreciation on Gen 1 cars from new until September 2015, and then from September 2015 until now. The downward slope is much steeper after September 2015.

Add to that the fact that most people will continue to drive their cars, and so will accrue mileage; mileage + time, all other things being equal, will result in a lower value at any time in the future than it was in September 2015.

The thing is, they're going to assume 12500miles/year or 1041 miles/month either way when you turn it in, so mileage penalties in theory will balance out on both calculations.

I8ABUG · Feb 1, 2017

Stabone33 said:
It already does. Look at depreciation on Gen 1 cars from new until September 2015, and then from September 2015 until now. The downward slope is much steeper after September 2015.

Add to that the fact that most people will continue to drive their cars, and so will accrue mileage; mileage + time, all other things being equal, will result in a lower value at any time in the future than it was in September 2015.

The thing is, they're going to assume 12500miles/year or 1041 miles/month either way when you turn it in, so mileage penalties in theory will balance out on both calculations.

Agreed, however now that the buyback amounts have been announced will the NADA Values go up to where they are close to the buyback values? The buyback amount is what the car is really worth.

lml999 · Feb 1, 2017

tregger said:
VW, Robert Bosch agree to pay $1.55 billion to settle U.S. diesel claims | Reuters
Under its settlement, Bosch will pay $163.3 million to address 2.0 liter VW vehicle claims, with most owners getting $350 each, while 3.0 liter owners will split $113.3 million. Most 3.0 liter owners will receive $1,500 from Bosch.

https://www.nytimes.com/2017/02/01/business/bosch-vw-diesel-settlement.html?_r=0

VW Offers Buyback Or Cash To U.S. Diesel Owners In Latest Settlement Deal : The Two-Way : NPR

Volkswagen diesel emissions cheating scandal; German automaker to pay 1.2 billion dollars in buybacks, compensation - CBS News

Is the Bosch payment separate, or is it part of the VW payment?

Thanks!

BradB · Feb 1, 2017

xylene said:
Hey Kids... Here is what everyone really wants to see. These are the docs you want in order to calculate your estimated actual payment... Mileage charts ect.

https://www.ftc.gov/enforcement/cases-proceedings/162-3006/volkswagen-group-america-inc

Don't we still need to locate our VIN on the Attachment 1: Generation 1 Eligible Owner and Former Eligible Owner Restitution (2.12 MB) before we can confirm our payment amount? It's redacted so we can't see our VIN's.

Like everyone, I am still trying to wade through all these attachments and documents. The Tax Table is easy. I worked through the Mileage Adjustment Instructions. But I am stumped, so far, on Restitution/Vehicle Value.

VW TDI EPA Recall (2.0L and 3.0L)

xylene

Stabone33

NitsujNella

Mythdoc

xylene

Stabone33

BenTDI

Stabone33

NitsujNella

Stabone33

Stabone33

xylene

alfissimo

Stabone33

I8ABUG

Bluetori

Stabone33

I8ABUG

lml999

BradB

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