I'm confused..

2002tdi · Jul 12, 2016

I do not understand this at all.

2012 a3 premium. S-Line sport package. I bought it in february with 52,000 miles on it. it now has just under 59,000 miles. paid 13,900 for it. i plan to let them buy it back. i cannot find this figure anywhere. can anyone help me figure this out?

blackhat840 · Jul 12, 2016

https://www.vwcourtsettlement.com/en/docs/FTC_Consent_Order/Attachments/Attachment 1A.pdf

Page 3 is the 2012 A3 Premium or Premium Plus. You should see around $24,000 to $27,000 in buyback depending on Mileage adjustments, options your car has, etc.

2002tdi · Jul 12, 2016

i see that... now with that being said it equals out to 25037. so they will basically pay the vehicle off and i get the difference? even when i bought it after the date.

blackhat840 · Jul 12, 2016

That is a good question, I did not know if it was Feb this year or last. I'm not 100% sure on what happens if you bought it after Sept 2015 and I have not looked into it since I bought mine new in 2013.

jims2321 · Jul 12, 2016

Eligible Owner: This means you are the registered owner of an affected vehicle and that you bought the car on or before September 18, 2015. You will get 20 percent of the vehicle's value, plus $2,986.73. The minimum you could get is $5,100.

If you purchased the vehicle after September 18, 2015, you will get 10 percent of the vehicle's value, plus $1,493.37, plus a proportional share of any restitution not claimed by the eligible seller. The minimum you could get is $2,550.

2002tdi · Jul 12, 2016

what about the reminder of my loan? and i put $2500 cash down.

jims2321 · Jul 12, 2016

Did you finance thru VW? If not, then your out of luck. You buyback should just about cover the loan hopefully.

sierra3 · Jul 12, 2016

Just flat out wrong.

2002tdi. If you sell back, you will get 100% of NADA clean trade in PLUS a 'restitution' amount of 10% + 1493.37 (with a minimum of $2550). You may get an additional amount of restitution up to double your current amount depending on 'eligible sellers' rules.

Please read page 8 and 9 (blue/white tables) of the link posted in #8 in this thread.

You can then use one of these calculators to ESTIMATE your buyback. Please subtract 50% of the restitution amount from the buyback column because you can't count on getting 100% of the restitution and VW added both NADA and restitution into the buyback column.

https://byebyetdi.us/select.php

sierra3 · Jul 12, 2016

...and it has nothing to do with financing through VW or not. Your loan gets paid off with buyback proceeds and you get the difference....just like any other vehicle transaction.

DanB36 · Jul 12, 2016

sierra3 said:
If you sell back, you will get 100% of NADA clean retail PLUS a 'restitution' amount of 10% + 1493.37

That's NADA clean trade, not NADA clean retail, as the documents currently read.

2002tdi · Jul 12, 2016

alright. thanks guys. so its just $50 of the restitution money. thank makes more sense now.

jims2321 · Jul 12, 2016

sierra3 said:
Just flat out wrong.

2002tdi. If you sell back, you will get 100% of NADA clean retail PLUS a 'restitution' amount of 10% + 1493.37 (with a minimum of $2550). You may get an additional amount of restitution up to double your current amount depending on 'eligible sellers' rules.

Please read page 8 and 9 (blue/white tables) of the link posted in #8 in this thread.

You can then use one of these calculators to ESTIMATE your buyback. Please subtract 50% of the restitution amount from the buyback column because you can't count on getting 100% of the restitution and VW added both NADA and restitution into the buyback column.

https://byebyetdi.us/select.php

My answer is correct. He may or may not depending upon what his buyback number works out to be cover his loan. As far as his down payment, that is gone, its not part of the calculation.

sierra3 · Jul 12, 2016

DanB36 said:
That's NADA clean trade, not NADA clean retail, as the documents currently read.

yeah..typo...been typing 'trade in' and 'retail' too much.

Freeze Plug · Jul 12, 2016

jims2321 said:
My answer is correct. He may or may not depending upon what his buyback number works out to be cover his loan. As far as his down payment, that is gone, its not part of the calculation.

he said he paid $13,900 i guess I am not understanding how he may or may not cover the loan, because he will be getting back $22k+ when choosing buyback

sierra3 · Jul 12, 2016

jims2321 said:
My answer is correct. He may or may not depending upon what his buyback number works out to be cover his loan. As far as his down payment, that is gone, its not part of the calculation.

In he initial post, he said he paid $13,900 for the car. With the additional down payment he quoted that would put the loan at about $11,400.

His buyback amount would equate to about $21,600 (we don't know miles or options, I used 55000 miles)...which is the full NADA trade-in, plus half of the restitution.

Even if he didn't make a single payment...he still walks out with a $7700 PROFIT.

jims2321 · Jul 12, 2016

And that is how its done... assuming he sells it back... He may just want to drive it for a few more years, if his mileage is reasonable and still pocket some cash!

IndigoBlueWagon · Jul 12, 2016

What am I missing? The OP's original post says he bought the car in February. If that's February 2016 he didn't own the car on 9/18/15. Is he still eligible?

Freeze Plug · Jul 12, 2016

jims2321 said:
And that is how its done... assuming he sells it back... He may just want to drive it for a few more years, if his mileage is reasonable and still pocket some cash!

he said he wants to buy it back

IndigoBlueWagon said:
What am I missing? The OP's original post says he bought the car in February. If that's February 2016 he didn't own the car on 9/18/15. Is he still eligible?

yes, still eligible for full trade in value, 50% restitution, + proportionate amount up to 50% from eligible seller pool

2002tdi · Jul 12, 2016

see all this is what confuses me. I am not certain what way is correct

2002tdi · Jul 12, 2016

i do want to sell it back to them. and our 2015 passat lease. my wife wants a new Tiguan and I am happy with my old 2005 a6 as well as my silverado and both are paid off. so 1 vehicle payment> 2 vehicle payments

jims2321 · Jul 12, 2016

Pretty sure you can just turn over the keys to the 2015 passat, nothing complicated there. As for the other car. as pointed out.. just reference the buyback pdf. and note that you get clean trade in value, plus 10% of the clean trade in value (if purchased after 9/15) plus 50% of the $2983.73. If that covers your loan, and puts some extra cash in your pocket, congrats you ahead of the game.

fredthe · Jul 12, 2016

2002tdi said:
see all this is what confuses me. I am not certain what way is correct

Calculate the full buy-back amount.
Calculate what you would get if you opt for the fix.
Divide the fix number by 2, and subtract this from the buy-back number.

That is what you will get, less whatever is needed to pay off the loan.

You may get the other 1/2 of the fix amount, if the seller doesn't submit a claim.

fredthe · Jul 12, 2016

The buyback number in the PDF already includes the 10%, the $2900, etc. Which is why you just take out 1/2 of the fix number from the buyback number,

DanB36 · Jul 12, 2016

fredthe said:
You may get the other 1/2 of the fix amount, if the seller doesn't submit a claim.

I think this is based on what's left in a pool for sellers, rather than whether your specific seller submitted a claim.

fredthe · Jul 12, 2016

DanB36 said:
I think this is based on what's left in a pool for sellers, rather than whether your specific seller submitted a claim.

You are correct. Perhaps the correct way to state it is "you may get some of the other 1/2 depending on claims submitted by sellers."

2002tdi · Jul 12, 2016

The car sat at a dealer for about 6 months. i assume no one jumped on it because of the news. i got a crazy deal and could not refuse it. well now its on to bigger things. plus the a3 mpg is not all that good.

I'm confused..

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