My reading says no "Restitution Payment" until fixed, maybe not known until May 2018?

My reading says no "Restitution Payment" until fixed, maybe not known until May 2018?

Page 17, Section 32. Settlement long form.
It looks like they may not have a fix and know until May, 2018 and then if no fix then you must sell it to get your Restitution Payment. No fix = No payment.

Is this what others see?

Vehicle owners and lessees who participate in the Class Action Settlement and choose the Approved Emissions Modification option also will receive Owner Restitution or Lessee Restitution (see Question 19 above). While the Approved Emissions Modification will also be available to owners and lessees who opt out of the Class Action Settlement, owners and lessees who opt out will not be eligible to receive the cash payments provided by the Class Action Settlement or to participate in the Buyback program. Any Approved Emissions Modification will remain available free of charge even after the Class Action Settlement Program closes, but there will be no cash payment.

If you elect to sell the car back, you'll get your money immediately. If you elect the fix, you won't get your money until the car is fixed.

Thanks

axz7000 - I'd like to refer you to:

39. What happens if it turns out that the EPA does not approve a modification for my
car? What are my options?

If no emissions modification is approved for your Eligible Vehicle by May 1, 2018, you will be notified.
You may then choose a Buyback, but must submit a complete and valid claim by no later than September
1, 2018 and obtain your remedy by no later than December 30, 2018. Alternatively, you may choose to
withdraw from the Class Action Settlement altogether, by June 1, 2018.

So as I read it, if you sign up for the Class Action under the mod option, you then must go with the mod if there is one and have the mod applied to get the restitution funds. However if no mod gets approved, you will be so advised and you can go back to the buyback route.

However if you opt out your options are less. You can get the mod applied free of charge when and if there is one. If there is no mod, then as you say get nothing. Of course you can pursue you own legal action against VW.

Thanks, we have a 2012 jetta gen 1 will sell back ASAP. A 2014 Passat gen 2 motor with DEF that I would guess they can fix. If no fix we'll sell it right back. Thanks for the explanation!

az7000, it looks like you do understand the settlement, and that if there is no fix you will get nothing, unless you sell the car back.
The question/suggestion I have for you is: Why rush?

You can drive both cars until the middle/end of 2018 without them depreciating. This means your cost per mile will be much lower. It is like more free money from VW.
There is a certain amount of risk; the car could get totalled, stolen, or have a catastrophic failure of the drivetrain, but other than that your money is guaranteed, except for a small mileage adjustment.

Just something else to consider.

We have a truck also and would have payments on both TDI's. The wife mentioned last night that the payments are a sort of savings account. Depending on how you choose to do the math you could show amazing return on investment. If we had a need by all means we would keep it, we work about 4 blocks away and walk or ride. Lucky enough the 2012 only has 30K and the 2014 only has 16K miles.

I'm going to call it a win either way.