This is the only way I'd be even remotely happy with doing the Buyback with my 2015 Golf SE. Without that extra I'm losing a few thousand on this deal. It would be dumb of me to not take a "fix".
Dieselgate: Volkswagen to Spend Up to $14.7 Billion to Settle ...
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JCTDI
Veteran Member
It says pretty clearly at the bottom of the mileage adjustment page that the minimal adjustment is going to be $5,100. So that's how I calculated mine. VW will pay me $19,037 to trade in my 2009 Sportwagen with 84K miles. If they give me a deal on a new gasser Golf wagon I will just trade for that.
faultymechanics
Veteran Member
That's why I am confident this is how it's gonna be. They want to make the most people happy. I know they have to pay some INSANE amount of cash per percentage of owners who don't accept. They piss off 50% of the people then they pay like 5 billion more or something crazy.
They want this to work. Additionally Feinberg aint trying to ruin his record.
Quiksilver
Active member
Not seeing how they will achieve their 85% compliance figure. I stand to get back just under $11k for my 2010 Jetta Sedan w/ 147,000 miles. This isn't much better than if I traded my car in just before the scandal broke.
The mileage penalty that I suffer basically eats up the "compensation" they have afforded me.
The mileage penalty that I suffer basically eats up the "compensation" they have afforded me.
roni024
Veteran Member
And that's exactly why it's setup this way. To encourage owners of newer vehicles to get the fix.
I was afraid this might happen. People who own older vehicles have been deceived longer, which in turn means they have been hurt longer and so the government might have skewed compensation in this settlement toward those who have more damages (i.e. deceived longer). Just personal speculation.
I'm looking at a $4,590 mileage adjustment... But I believe the mileage adjustment goes against the "extra compensation"...which also has a floor of $5,100?
Please tell me I read that correctly!
Edit: pulled everything up on the work computer - easier to read vs phone!
Looks like net sell is $20,357 vs $6,552 fix.
My car is worth more to me than the $13.8k delta, so not likely to be selling it back.
Please tell me I read that correctly!
Edit: pulled everything up on the work computer - easier to read vs phone!
Looks like net sell is $20,357 vs $6,552 fix.
My car is worth more to me than the $13.8k delta, so not likely to be selling it back.
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fan of fanboys
Veteran Member
no idea if that is true but if so that is a huge difference and my numbers are fairly close to yours
my buyback return after payoff would be approx $4,600
20% of the value (24,647) is $4,924.4 + 2,986.73 = $7,916.13 + my buyback after payoff of $4,600 = 12,516
if I managed to get that, or close, it would be a freaking no brainer.
TCBinaflash
Veteran Member
$11k was high retail for that model year with standard mileage IIRC
faultymechanics
Veteran Member
I think we are getting the extra though. It would be weird if not, more then just new owners would be in trouble. Several places they say we get buyback value plus extra cash.
Only trouble is this wording here: "Option 1:
Sell your car back to VW plus a cash payment for a combined total of:"
That combined number they give is white hot garbage. And makes no sense if they are including the money on top. That gives people nothing back in value. And makes no sense for those of us with loans. How can they know the combined number price if they dont know how much extra cash we get or if they need to pay over 100% to pay off the loan.
Only trouble is this wording here: "Option 1:
Sell your car back to VW plus a cash payment for a combined total of:"
That combined number they give is white hot garbage. And makes no sense if they are including the money on top. That gives people nothing back in value. And makes no sense for those of us with loans. How can they know the combined number price if they dont know how much extra cash we get or if they need to pay over 100% to pay off the loan.
Quiksilver
Active member
Sounds about right. I remember checking the value before this happened, and it was worth about $8,700 or so private party. This is why I believe the compensation is built in, my buyback figure pre-adjustment is $14,087.
higgledy
Veteran Member
At the time of the buyback, does anyone think the VW and the dealers will have special deals to get us to buy a gasser VW?
ccbsecu
Veteran Member
For me, 2011 Jetta, 6MT with 90k mileage:
Buy back value: $17,057
Less (MT) (840)
Less (Mileage Adj 90k+) (1,740)
Final Buy Back Value $15,107
Seems reasonable. I'll take this cash and my 07 Tacoma Truck and get a 2016 Colorado Duramax Diesel, and wait for the 3.0 buyback/mod plan...
Buy back value: $17,057
Less (MT) (840)
Less (Mileage Adj 90k+) (1,740)
Final Buy Back Value $15,107
Seems reasonable. I'll take this cash and my 07 Tacoma Truck and get a 2016 Colorado Duramax Diesel, and wait for the 3.0 buyback/mod plan...
faultymechanics
Veteran Member
Oh wait....maybe we don't get extra cash if buying back , oh ****. They said that everyone would get significant compensation though. This is Maddening.
cmeller
Veteran Member
I'm confused by the mileage adjustment tables (the language)... any thoughts would be helpful:
I have a 2010 JSW (bought in Fall '09) with 95K, DSG, and Sunroof
Here is how I'm reading the estimates and tables:
Base Buyback: $15,407
Sunroof: +$540
Pre-Mileage Totals: $15,947
Adjusted Mileage based on Sep'15: -$360
Would the total be $15,947 - 360 = $15,587
or
Would the total be $15,947 + ($5100-360) = $20,327 <- I'm assuming I wasn't suppose to subtract a negative number from $5100 to increase this even more..
The first number is close to the ball park estimate I was expecting, the second is well above my estimate. I'll be selling the car back either way and return to some boring reliable Honda or Toyota (or buy my dream Wrangler..but likely not) but I'm trying to understand roughly what to expect.
I have a 2010 JSW (bought in Fall '09) with 95K, DSG, and Sunroof
Here is how I'm reading the estimates and tables:
Base Buyback: $15,407
Sunroof: +$540
Pre-Mileage Totals: $15,947
Adjusted Mileage based on Sep'15: -$360
Would the total be $15,947 - 360 = $15,587
or
Would the total be $15,947 + ($5100-360) = $20,327 <- I'm assuming I wasn't suppose to subtract a negative number from $5100 to increase this even more..
The first number is close to the ball park estimate I was expecting, the second is well above my estimate. I'll be selling the car back either way and return to some boring reliable Honda or Toyota (or buy my dream Wrangler..but likely not) but I'm trying to understand roughly what to expect.
TCBinaflash
Veteran Member
I think you did that wrong- the $6770.13 is already calculated in the buyback price
faultymechanics
Veteran Member
This one line confuses everything else: "If you choose the Buyback option, you will receive your car’s September 2015 Clean Trade Vehicle Value, plus a cash payment, ranging from a minimum of $5,100 to nearly $10,000, depending on your vehicle." , do we or dont we get extra cash if we do a buyback.
I read we get the buyback value of the car plus the 20% of cars value plus that 2986 number in cash.
I read we get the buyback value of the car plus the 20% of cars value plus that 2986 number in cash.
MichVW
Veteran Member
The way I read it... all cash compensation is ALREADY calculated into the buyback amount listed on the charts.
If you choose the Buyback option, you will receive your car’s September 2015 Clean Trade Vehicle Value, plus a cash payment, ranging from a minimum of $5,100 to nearly $10,000, depending on your vehicle. If you choose the emissions modification option, you will receive a free modification plus the same cash payment. The range of total cash payments is summarized in the chart below.
If you choose the Buyback option, you will receive your car’s September 2015 Clean Trade Vehicle Value, plus a cash payment, ranging from a minimum of $5,100 to nearly $10,000, depending on your vehicle. If you choose the emissions modification option, you will receive a free modification plus the same cash payment. The range of total cash payments is summarized in the chart below.
faultymechanics
Veteran Member
How can it be, my car would be worth nothing then......
Quiksilver
Active member
It's looking like they can't fix the older vehicles so they're making this deal work better in their favor. Newer vehicles probably have a cheap and easy fix so they're trying to screw us over if we go with a buyback.
I was ready to be done with VW, but unfortunately I can't just lose out of a few thousand dollars. Unless something new shows up I'm going to have to go with the "fix".
I'm assuming the figure I got from the 1A attachment for my car is the RETAIL value of the car, not including the monetary compensation. According to the press release,
"Buyback option: Volkswagen must offer to buy back any affected 2.0 liter vehicle at their retail value as of September 2015"
Which sounds about right for RETAIL, trade in value would be significantly less
Got Haggis?
Veteran Member
the restitution is definitely calculated into the buyback price....so if i let them buy back my car, they would give me something like $19787....but the "clean trade in value" of that car is actually $13,965 give or take...its the restitution that puts it up to 19k
i keep seeing newer model (2015) owners saying they are getting screwed, but i'm not really sure how
my issue is that they are using this trade-in value, which is i believe the lowest value. private sale would be better
i keep seeing newer model (2015) owners saying they are getting screwed, but i'm not really sure how
my issue is that they are using this trade-in value, which is i believe the lowest value. private sale would be better
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This may be a stupid question but anywho. I have a 14 Jetta S. My buyback with adjustments comes in at 23,989.
Now I have negative equity from a previous vehicle but I also have GAP insurance(yes I know it doesn't cover negative equity). Now my question is isn't this considered a breach of contract? And secondly if the EPA never approves a fix, wouldn't this be considered a total loss?
It my sound like I am trying to be a scammer but if this is going to turn out to be a **** show from VW. I would rather take the buyback without having to use any of the compensation money and put it towards something else.
Now I have negative equity from a previous vehicle but I also have GAP insurance(yes I know it doesn't cover negative equity). Now my question is isn't this considered a breach of contract? And secondly if the EPA never approves a fix, wouldn't this be considered a total loss?
It my sound like I am trying to be a scammer but if this is going to turn out to be a **** show from VW. I would rather take the buyback without having to use any of the compensation money and put it towards something else.
PeteZ06
Veteran Member
Correct..
These deals areant as sweet as initially thought.
Its not buyback + minimum 5100.
The buyback amount already has the cash bonus included.
faultymechanics
Veteran Member
So that would mean the numbers on the table are just the vehicle, no extra compensation. Like I am saying that's what makes sense. VW can try to shaft us by they legally have to give us the retail value plus AT LEAST 5100, and if I subtract 5100 from the number I got on the table I am wayyyy below my retail value from Sept.
faultymechanics
Veteran Member
My car was bought at 32k. I have spent almost 3k on it. I have 30k miles on it, VW's proposed price to buy me out of my loan (Financed for them) is WAYY LESS (like 4k less) then what I have in the car.
So I get to pay them and get no extra money, they can go screw themselves.
Thesilverbullet
New member
I have a question that I think everyone is overlooking. Has anyone considered the settlement as something that can be taxed? Take the below example:
Current Fair market value of car $15,000
2015 book price (pre scandal) $20,000
Compensation from VW $5,100
Total buyback check $25,100 (2015 value plus + compensation)
Net benefit of buyback i.e income $10,100 (Buyback - current FMV)
Personal Federal tax rate 20% (picked an easy number)
Federal tax owed $2,020 ($10,100 times 20%)
Could you end up owing $2,020 in Federal taxes next April in this example? Also could be state of local income taxes depending on where you live. Never mind the sales tax paid on the original purchase and the potential sales tax paid on buying a replacement car.
I am not a tax guy but it is something I would want to know before making a decision. Hopefully someone can clarify if this would be an issue. The entire compensation could end up being taxes for some......
Current Fair market value of car $15,000
2015 book price (pre scandal) $20,000
Compensation from VW $5,100
Total buyback check $25,100 (2015 value plus + compensation)
Net benefit of buyback i.e income $10,100 (Buyback - current FMV)
Personal Federal tax rate 20% (picked an easy number)
Federal tax owed $2,020 ($10,100 times 20%)
Could you end up owing $2,020 in Federal taxes next April in this example? Also could be state of local income taxes depending on where you live. Never mind the sales tax paid on the original purchase and the potential sales tax paid on buying a replacement car.
I am not a tax guy but it is something I would want to know before making a decision. Hopefully someone can clarify if this would be an issue. The entire compensation could end up being taxes for some......
JCTDI
Veteran Member
If I follow this exactly, then it seems my buyback price is $19K. If I ignore it, and just do the standard mileage adjustment, then its just below $15K. Big difference so I guess this will be cleared up by next month.
Further Adjustment
(applies to both Buyback and Modification)
If the Modification amount from (5) above is less than $5,100:
a. Subtract the Modification amount from (5) from $5,100.
b. For Buyback: Add the result from (a) to the number from (5) above.
This is your Mileage‐Adjusted Buyback Amount.
c. For Modification: Add the result from (a) to the number from (5) above.
This is your Mileage‐Adjusted Modification Amount.
Further Adjustment
(applies to both Buyback and Modification)
If the Modification amount from (5) above is less than $5,100:
a. Subtract the Modification amount from (5) from $5,100.
b. For Buyback: Add the result from (a) to the number from (5) above.
This is your Mileage‐Adjusted Buyback Amount.
c. For Modification: Add the result from (a) to the number from (5) above.
This is your Mileage‐Adjusted Modification Amount.
phrinda
Veteran Member
I think that you may have that wrong. It says
"If the modification amount from (5) is less than $5,100, see
Further Adjustment at the end of this table. (This also applies to Buyback).
Otherwise, the result from (5) is your Mileage‐Adjusted Buyback or Modification Amount."
I believe that means that your buyback value (first chart based off model year/options) must be at least $5100 after you take the mileage adjustment.
So, as I understand it, mine would be 19,007ish (buyback value) + $930 (mileage adjustment. Adj miles 45K-50K) for $19,937. The $5100 is a minimum. My example is above the min. The "owner restitution" is built into the buyback value.
This is the way that I understand it.
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