100% confirmed 1st of the month is date for mileage adjustment

chief poncho said:

The amount of the adjustment depends on the model, options and age.

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DanB36 said:

Fixed that for you--options don't have anything to do with the mileage adjustment, though model and year do. Thanks for confirming what a lot of us already thought.

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bushido said:

What does the loan payoff confirmation look like?

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chief poncho said:

Finally turned in my car yesterday on 3/1. I originally uploaded my documents on 9/26, had green checkmarks mid November and now finally its done...almost. No Chase email yet though.

There is a bit of good news in waiting so long. I've had the car parked for the last 2 months because I was way overdue for an oil change and I didn't want it to break before turn-in. I was able to squeak into the next lower adjusted mileage bracket 35,000-40,000 miles by a whopping 16 miles. My adjusted mileage was 39984, or 58740-(1042miles x18months) and my buyback amount was adjusted up by $420.00.

So it is 100% official. The day used for mileage adjustment is the 1st of each month. You get the entire 1042 miles credited towards your adjustment on that day. Take the number of months since September 2015 and multiply that by 1042 and subtract that number from your current mileage for your adjustment. This might help some folks plan their future turn-in dates a bit better. Remember the adjusted mileage is what matters, not your current mileage. VW adjusts the value based on 5,000 mile increments. So it's 0-5000, 5001-10,000, 10,001-15,000 and so forth. The amount of the adjustment depends on the model and age.

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safcduran said:

Thanks for the info. I turned my car in on Wednesday but the settlement agent didn't do anything about my mileage, which I believe by waiting until March 1 dropped me into next bracket. He only gave me a card and said ring VW claims. I rang them this morning and the lady said she didn't deal with adjusted mileage, but would escalate it. Anyone else had to fight for their mileage compensation?
I presume mileage additions or subtractions are not included in the generic Additional Restitution Payment line item, and listed separately?
Mileage at hand in was 28584 - 18x1042 = 9828.
Thanks, Phil.

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safcduran said:

I presume mileage additions or subtractions are not included in the generic Additional Restitution Payment line item, and listed separately?

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dmarsingill said:

You have every right to cancel your payment.......but I wouldn't have. By the time they process, send the check to the finance, and they process....your payment will be considered late. Of course, it only affects your credit if it is substantially late.

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My name is Lisa Petak, and I am an attorney at Keller Rohrback. The managing partner at my firm has been named to the Plaintiff Steering Committee, and we represent owners of TDI Volkswagens. The committee has just assigned more lawyers to assist claimants, and I hope I can help.

First off, I’m sorry that the buy-back process has been so frustrating. You are not alone in your frustration, and I assure you the court is aware of the concerns of the class.

VW is batching all payoffs to VW Credit with multiple claimants, so they will often take longer to be sent -- but will be processed more quickly once they arrive. For those with loans through servicers other than VW Credit, VW has 5 banking days from the buyback date to send payment, and those loan payoffs are 100% paper checks overnighted to banks. Some banks are slower than others to process the payoffs once received, however.

VW Credit is waiving any late fees from the date of the buyback. This raises a question about interest, and that is still being resolved by VW; however, because VW Credit processes loan payoffs much quicker than other banks -- even after the batching delay -- the net payoff time should be about the same as other banks because the processing is quicker.

Moreover, VW Credit customers do not need to make any payments to VW Credit after they complete their buyback appointment and receive their receipt. Due to the monthly batch process, a claimant may receive payment reminders after they complete their closing and can disregard these as long as they have completed their closing and have a receipt. VW Credit will refund directly to claimants any excess in the loan payoff amount paid by VW to VW Credit due to a claimant’s loan payments between final offer letter and Buyback appointment, pending any necessary validation by VW Credit.

If you have any specific questions regarding your payoff, you should contact VW Credit directly. However, if your loan is through another servicer, please let me know and I'll see what we can do.

Best,
Lisa

Lisa Faye Petak
Keller Rohrback, LLP

VW “Clean Diesel” MDL No. 2672 | Plaintiffs Steering Committee
info@vwclasscounsel.com

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chief poncho said:

There is a bit of good news in waiting so long. I've had the car parked for the last 2 months because I was way overdue for an oil change and I didn't want it to break before turn-in. I was able to squeak into the next lower adjusted mileage bracket 35,000-40,000 miles by a whopping 16 miles. My adjusted mileage was 39984, or 58740-(1042miles x18months) and my buyback amount was adjusted up by $420.00.

So it is 100% official. The day used for mileage adjustment is the 1st of each month. You get the entire 1042 miles credited towards your adjustment on that day. Take the number of months since September 2015 and multiply that by 1042 and subtract that number from your current mileage for your adjustment.

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miniion26 said:

Hmmm, that confirms that I should wait one more month, unfortunately. My mileage is 59022, and by going to 19 months(assuming I will turn the car in April) I get almost $600 more.
Thanks for posting this. My calculations were done including Sept 2015 as a month....

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PacCoastFwy923 said:

That looks correct; mine worked out similarly ($600 increase by waiting until February -- though it's not like I had a choice).
For anyone counting months in their head, yes, September 2015 was the first month, but October marks the "first month after" per how the mileage tables are laid out. So that's why this January was month 16, and as you wrote, April will be month 19.

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