Offer received - 9/18/15 - 6/28/16 purchase

DanB36

Veteran Member
Joined
Jul 13, 2003
Location
Savannah, GA
TDI
2014 Q5 Prestige TDI, Monsoon Gray
Received an offer this morning on my (wrecked) 2013 JSW, which I bought the end of February of this year. Uploaded documents 9/17/16, accepted 10/20/16, offer (dated 11/22/16) received this morning, 11/23/16. Notarized and returned 15 minutes later. The car has private financing. Spreadsheet is updated.

As (somewhat) expected based on the change in numbers we saw on the portal last week, the restitution amount in this offer is 78% of the restitution calculated at https://agrahamg.github.io/VWBuybackCalculator/.
 

GyroRon

Veteran Member
Joined
Feb 21, 2014
Location
Fort Mill SC
TDI
2013 Jetta tdi
Congrats!

So I guess its safe to assume we will get more than the estimate VW gave when we registered our post 9-15 cars. Mine only showed 50 percent instead of the expected 100 percent at the time. Mine was purchased in july of this year, so I wonder if I will ultimately get 50, 78, or 100 percent.....
 

DanB36

Veteran Member
Joined
Jul 13, 2003
Location
Savannah, GA
TDI
2014 Q5 Prestige TDI, Monsoon Gray
Based on the wording of the FTC settlement, at a minimum, all 9/18/15-6/28/16 buyers should receive the same percentage of the full restitution, which would be 78%. Post-6/28/16 buyers are still up in the air a bit. I'm waiting for offers on three of those, so I'll update as more happens.
 

rbreding

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Joined
Aug 27, 2015
Location
Oklahoma City
TDI
2015 JSEL (buyback) 2015 PSEL (buyback) 2016 328d (keeper)
But what if your specific car has an eligible seller that registered. Would that specific car then be split and not payout more than a total of 100% ?
 

DanB36

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Joined
Jul 13, 2003
Location
Savannah, GA
TDI
2014 Q5 Prestige TDI, Monsoon Gray
I don't think they can go VIN-by-VIN for 9/18/15-6/28/16 cars; the settlement requires that any such buyers get the Adjustment. That possibility's still out there for post-6/28/16 buyers, though. I don't think we'll know until we start seeing (and hearing about) offers for some of those.

Edit: But now that you mention it, it does make for an interesting point. The FTC consent order requires that 9/18/15-6/28/16 buyers get the adjustment (an additional fraction of the restitution, based on the percentage of the Eligible Seller Restitution (ESR) pool remaining after all Eligible Sellers have been paid). But then there's the "no double-dipping" provision you mention. So what does that provision actually do? It's in the section on ESR, so the obvious thought would be that it affects the ESR--but that couldn't be the case, as they have to have paid (or at least finalized) all the ESR claims before they know what the adjustment is going to be. The only other possible meaning would be that it would affect the restitution to the current owner--but that would mean the owner wouldn't get the adjustment that the consent order says they have to get. And in that case, about half of the 9/18/15-6/28/16 buyers would miss out on that adjustment. So I wouldn't think that could be the right answer. So what does that paragraph actually do? I can't think of any other possibilities.

It sounds like any effect that paragraph would have on the post-6/28/16 buyers, it would have equally on the 9/18/15-6/28/16 buyers.
 
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Jimmy Coconuts

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Joined
Jul 27, 2015
Location
Henderson NV
TDI
2009 JSW, 2010 Jetta, 2011 Q7 Prestige, 2012 A3 Premium, 2013 A3 Premium Plus, 2014 Beetle, 2015 Jetta
Congrats to all 9/18/15 to 6/27/16 purchasers!

Here's hoping VWAG won't get an automatic 50% owner restitution discount on cars purchased on or after 6/28/16.
 

NamesLucky

Active member
Joined
Jul 27, 2016
Location
Montana
TDI
14 TDI Jetta
Dan, sorry if you said this in another thread, but did you re-run this 9/18/15 to 6/27/16 car back into the VW calculator and get that 78%, or did it show 100%?
 

DanB36

Veteran Member
Joined
Jul 13, 2003
Location
Savannah, GA
TDI
2014 Q5 Prestige TDI, Monsoon Gray
I created a fresh account on the claims portal last week and entered this car with its correct purchase date, and it showed 78%. The offer was exactly the amount (to the penny) that the claims portal showed.
 

purduecrew

Veteran Member
Joined
Nov 22, 2013
Location
TN
TDI
Passat
I don't think they can go VIN-by-VIN for 9/18/15-6/28/16 cars; the settlement requires that any such buyers get the Adjustment. That possibility's still out there for post-6/28/16 buyers, though. I don't think we'll know until we start seeing (and hearing about) offers for some of those.

Edit: But now that you mention it, it does make for an interesting point. The FTC consent order requires that 9/18/15-6/28/16 buyers get the adjustment (an additional fraction of the restitution, based on the percentage of the Eligible Seller Restitution (ESR) pool remaining after all Eligible Sellers have been paid). But then there's the "no double-dipping" provision you mention. So what does that provision actually do? It's in the section on ESR, so the obvious thought would be that it affects the ESR--but that couldn't be the case, as they have to have paid (or at least finalized) all the ESR claims before they know what the adjustment is going to be. The only other possible meaning would be that it would affect the restitution to the current owner--but that would mean the owner wouldn't get the adjustment that the consent order says they have to get. And in that case, about half of the 9/18/15-6/28/16 buyers would miss out on that adjustment. So I wouldn't think that could be the right answer. So what does that paragraph actually do? I can't think of any other possibilities.

It sounds like any effect that paragraph would have on the post-6/28/16 buyers, it would have equally on the 9/18/15-6/28/16 buyers.
Well if it isn't by VIN then like you said, the pool would go 100% either way if NO ONE or EVERYONE as an EO filed. Perhaps a poor assumption we made was that the restitution was figured at 50% for all post 9/15 buyers. Maybe that was just a starting point to give people a "worst case scenario". Realistically that's pretty smart, under promise and over deliver. I think the math is a little more complicated than we all let on. If no one claimed the cars as EO or ES ( post 9/15), the money would go nowhere. If lets say there was 10 cars and all 10 were claimed by both ES and EO's, then if the pool was $1000 in sum, each person would get $50 as the pool is divided 20 ways.

Further:
If there are 10 cars all claimed by EO's and 5 are claimed by ES's, then you would have to pay each of the 5 cars $50 each to the ES due to no double dipping ( we are confident of that language), respectively. That's a total of $250 to the 5 ES's. The $750 remaining goes to the 10 EO's, for $75 each, or 75% total including ES bonus. So if you think about this, the "78%" figure comes from approximately half of the ES pool making claims.

I think if we all scoured the documents again we would see where post 6/28 is a superseding deal where the seller loses all rights because they sold after 6/28. All that matters is where the ball lands and I don't think they are giving consideration to the fact that you the ES had your hands on a car in passing. Because what if three people bought and sold the same car in the time-frame? How would that be resolved? Divide the $100 three/four ways so as to avoid double dipping? I'm sure this is one in a million situation but I can't see them pushing out the 50% restitution figure if that was even possible to begin with.
 

Michael A

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Joined
Jul 1, 2016
Location
NY
TDI
2012 VW Touareg TDI Executive
Do you know if any post 6/28 buyers received offers at this point?
 

DrgRnnr

Veteran Member
Joined
Oct 26, 2016
Location
NC
TDI
2011 Jetta
"I just got an offer for post 6/28 tdi. 100% restitution. Sweet!!
No loan."

This deserves to be a headline!!
 

TDIsaver

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Joined
Oct 27, 2016
Location
PA
TDI
Multiple
I assume the offer has a specific dollar amount?
Does it match the calculator?
Yep. Matches calculator exactly.

2013 jetta.

Offer:

16000 vehicle return amount
6186.73 Restitution.
22186.73. Amount VW will pay you (me)

This is a good day.
 

speedrye

Veteran Member
Joined
Jul 27, 2016
Location
Central NC
TDI
13 JSW DSG, 14 JSW DSG
Congrats to all late purchasers!! This just made my day. Of course, I'm still stuck with blue eyeballs after 2+ months...
 

TommyGun

Well-known member
Joined
Aug 21, 2016
Location
MN
TDI
A bumper crop
As a long time lurker, risk-taking arbitrage-er, and first time poster I must say this is a good day for me, my immediate family and in-laws, my friends, and my neighbors.

I love it when a good plan comes together.
 

Jimmy Coconuts

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Joined
Jul 27, 2015
Location
Henderson NV
TDI
2009 JSW, 2010 Jetta, 2011 Q7 Prestige, 2012 A3 Premium, 2013 A3 Premium Plus, 2014 Beetle, 2015 Jetta
Just received the offer for my 09 JSW, cash purchase on June 28, 2016.

100% owner restitution! It's happening folks!
 

emeraldzippy

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Joined
Feb 3, 2011
Location
Fallbrook ca
TDI
2006 Jetta MK5-DSG-119K-Malone 1.5 Past: 1997 Passat, 2012 Jetta wagon, 1987 Ford Ranger diesel, 1982 Chevette diesel
I'm assuming TDIsaver's was a clean title car.

Congrats!!

Still nervously wondering about the fate for those of us with post 9/18/15 title brands + post 6/28 purchases...most signs pointing to Good (document language is clear), but can't help but sweat a little.
 

TDIsaver

Well-known member
Joined
Oct 27, 2016
Location
PA
TDI
Multiple
I'm assuming TDIsaver's was a clean title car.

Congrats!!

Still nervously wondering about the fate for those of us with post 9/18/15 title brands + post 6/28 purchases...most signs pointing to Good (document language is clear), but can't help but sweat a little.
Yes. Clean title.
 

sierra3

Well-known member
Joined
Mar 26, 2012
Location
Reno, NV
TDI
'12 Passat TDI SE / '13 Passat TDI SE
Guys...I was one of the original 'loop hole' finders and bought my car on 7/1/16 the day after I read through the settlement.

We have always expected between 50 and 100% restitution, and this news is fantastic.
Could someone who has been offered full restitution give more specific history on one of their cars that just got the offer? Meaning, did you buy it after 6/28 from the original owner, or were there other transfers of title throughout the lifetime?

My car was a 1 owner, that was turned into a Toyota dealer in May '16....so those folks would have been 'eligible sellers'. The dealer then sold it to me on 7/1/16 and lost his/her rights to the vehicle.

Just want to see if there are 100% restitution offers on cars with a similar situation as mine.
 

Trade Wind

Veteran Member
Joined
Feb 16, 2016
Location
Minnesota
TDI
RIP 2012 Passat SE 6 spd MT
AWESOME NEWS!! This covers a large portion of the "flippers" out there. However... to cover more bases, it would be great to know of a confirmed case of one of the following. Only interested in final offers, where you have the paperwork in hand to be notarized. If one of these applies to you, Enquiring minds want to know :)

1. A car purchased after 6/28/16 with LESS THAN 100% restitution offered
2. A car purchased between 9/18/15 and 6/28/16 with anything other than 78% restitution offered
3. A car purchased after 6/28/16, with a salvage title PRIOR to 9/18/15, with LESS THAN 100% restitution offered.
 
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