How does your write-off/insurance payout plus cash payment, compare to the buy-back + higher cash payment had you not had that accident? Just curious
Insurance payout was $10,619 (excluding HST) Clean retail value
https://www.impactauto.ca/Vehicles/VehicleDetails?itemid=602174
VW Settlement $2,550
Total payment $13,169
Versus
If you choose a Buyback, Volkswagen will offer to buy back your vehicle at its Vehicle Value and provide an additional cash payment based on your Settlement Class Member category (see Question H). Vehicle Value is your vehicle’s wholesale value on September 18, 2015, as independently determined by Canadian Black Book, Inc. (“CBB”), based on your vehicle’s brand, model year, model, trim level, factory options and mileage at the time that the offer is made.
Not sure what wholesale value on my 2011 Jetta Highline with 244,000 Kms now (probably 220,000 kms in Sept 2015) was worth then.
I am guessing $8,000?
Buyback $5,500
Total Payment $13,500
I think I came out good from this as I bought the car in Sept 2013 for $13,850 (exc HST) drove it for just over 3 years and will get $13,169 (exc HST). This excludes the $1K in VW gift cards. My calculations exclude any maintenance e.g. T/Belt, 2 new tires, DSG service and brakes that were replaced.
What annoys me is that VW Canada is only giving wholesale value for VW's for buyback but market value for trade ins?
For my current replacement car 2014 VW Comfortline Jetta 127,000 kms (bought in Nov 2016):
I paid $12,300 (exc HST)
Settlement with approved modification -$2,975
Total Cost $9,325 (exc HST)
Not bad