Sorry for the long post.....just my two cents here...would love to hear everyone's thoughts on my interpretation of this "branded" title issue.
As I see it there are really only two situations to consider:
1. Cars with branded titles on Sept 18, 2015. These cars are then subdivided into two more possible outcomes.
a. Cars that were NOT purchased from a salvage/junk yard after said date of Sept 18, 2015 are qualified for the buyback.
NOTE: There is no definition given for what exactly a junk yard or salvage yard is.
b. Cars that WERE purchased from a salvage yard after Sept. 18, 2015 are not eligible....again assuming they had branded titles as of Sept. 18, 2015.
2. Cars with branded titles after Sept 18, 2015.
a. ALL of these cars are eligible for the buyback assuming they are running/operable when turned in as defined in the agreement.
The date of June 28th only relates to the individual who totals his car after June 28th, 2016 and before Sept 16th, 2016 and the car is sold to the insurance company. This is due to the accounting of the "opt out of the settlement" numbers and "qualified seller" restitution calculations. If you sell your car to the insurance company between June 28, 2016 and Sept 16, 2016 you are in the same boats as those individuals that decide to sell there clean title cars between those same dates....out of the money. See below.
"There is one exception: if your car is totaled after June 28, 2016, but before the opt-out date (September 16, 2016), you are excluded from the settlement class and reserve your rights and claims against the Volkswagen entities."
Note the car itself is not excluded just the individual....same as a clean title car.
You have to remember that the US Government and VW have been negotiating this agreement long before Sept 18, 2015 when the information was released to the pubic.
From a conversation I had with one of the class attorneys, she indicated that VW and US Government knew EXACTLY every VIN that was qualified at that date. They also knew the EXACT amount of money required to buy back all of those cars....thats where the settlement numbers were calculated from.
VW probably argued that they shouldn't have to buy back cars that were branded on Sept 18, 2015 and some junkyard owner was parting it out thus not on the road at that time. Therefore, they shouldn't be required to buy it back. The US Gov fighting on behalf of the consumer likely argued that those cars that were legally on the road with or without brands had to be bought back.
If a car was totaled after Sept 18, 2015 it is likely counted IF it is operable when turned in as it was counted as a qualified VIN on Sept 18, 2015.
Also statement stating the car had to be operable on June 28th 2016 makes absolutely no sense. So the car could be running June 27th or June 29th and it qualifies? How would either party prove that the car in question was operable on that specific date?
Just my two cents....sorry for the long post.
