Dieselgate: Volkswagen to Spend Up to $14.7 Billion to Settle ...

[scooperhsd]

OK- but is it not true that in case "A" (which is presumably the buyback) you no longer have a loan, while in case "B" you will still have the same loan and be paying on it. I'm thinking that the loan should be somehow reflected in this comparison.

you are correct - case A reflects that VW paid off the loan from my proceeds. You also have to assume that that is of 1 Nov or so - the longer I would go before the more cash I would get back - but even at best - in 24 months I STILL would have 12 months of payments to go ( we financed for 54 payments). It's one reason why I want a fix ( not buyback) - and keep driving the car for 10-15 years (or more).

 

[mejpassat]

When I read the preliminary documents, the buy back value was going to be based on NADA Clean Trade In Value, not Nada clean used retail value. Has the document changed or did they do a typo in the current release document?

 

[razorrod]

why do you want, most of you, turn car back to VW?
I thought take cash pay off car, or CC or good vacation and move on with life and VW TDi.
It's great car and I don't see reason turn this back to VW and getting some gas Toyota or Honda.

 

[AmandaSch]

Here's my question, I signed up for the fix, right now I have a loan, not through VW, but I entered the bank and $ amount on the website. Think it'll be ok if I can see about re-financing with my credit union, the title will go from my current bank to my credit union.
Any thoughts?

Hopefully with a 2010, there will be a fix and I can keep it.

 

[bubbagumpshrimp]

Here's my question, I signed up for the fix, right now I have a loan, not through VW, but I entered the bank and $ amount on the website. Think it'll be ok if I can see about re-financing with my credit union, the title will go from my current bank to my credit union.
Any thoughts?
Hopefully with a 2010, there will be a fix and I can keep it.

As you're planning on keeping it...I would say that it shouldn't be a problem. I would just be sure to update them on the bank/credit union account number.

If you were thinking you might take the buyback...my advice would be to not do that. Why? You don't want to run out now and open up a new credit line (even though vehicles aren't necessarily a bad thing) if you might have to run out a few months later to finance another vehicle. Just my $.02...

 

[AmandaSch]

As you're planning on keeping it...I would say that it shouldn't be a problem. I would just be sure to update them on the bank/credit union account number.

If you were thinking you might take the buyback...my advice would be to not do that. Why? You don't want to run out now and open up a new credit line (even though vehicles aren't necessarily a bad thing) if you might have to run out a few months later to finance another vehicle. Just my $.02...

That's one of the reasons why I would prefer to keep my car, as I am trying to improve my credit, and don't want the hassle car shopping/starting new loan again.

 

[2015vwgolfdiesel]

When I read the preliminary documents, the buy back value was going to be based on NADA Clean Trade In Value, not Nada clean used retail value. Has the document changed or did they do a typo in the current release document?

NADA Clean Trade In Value

foxie

 

[dslman]

Yes, that's how I read the FTC Consent Order. And if there's no Eligible Seller, that's the clear requirement of that order. The uncertainty comes if there is an Eligible Seller prior to the post-6/28 buyer. Or, of course, if the FTC Order is modified to be more consistent with the CAS.

Well now I know I was right all along. (I REALLY HOPED YOU were right though)

Owners bought AFTER September 18 2015, only get HALF (50%) Restitution compared to owners on and before September 18 2015.

I will say you did raise my hopes a little, but oh well, that was a little too much to hope for.

I own 1 car, bought brand new back in October 2011, but I own 3 others I bought AFTER that date, (Sept 18 2015) so I was hoping, if you would have been correct, it would have meant nearly $10,000 EXTRA in my pocket!

Now I still have to figure out if I was right or wrong on the Branded Title situation.

 

[PaulN]

Why the 2015s buyback is fouled up

I mentioned this a couple of weeks ago, worth repeating.

The reason that the 2015s have a poor buyback is because the judge decided to use one single factor as a depreciation for the whole model year's worth of all of them (and that factor was also quite a bit higher than average car depreciation).

By using a single annualized factor, the actual depreciation "age" of all the 2015s, even the ones bought the week before the scandal was released to the press, were "normalized" and thus variously, arbitrarily, and outrageously extended to 1 year.

See, since the value capture snapshot was fixed for Sep 2015, THAT is the figure being depreciated by one year, even if you only owned your car a few days with 100 miles on it back then in SEP 2015, the judge hit that value WITH THE PRECEDING YEAR'S DEPRECIATION as if you bought the car in SEP 2014!

Another way to see it;

The 2015s value is pegged to Sep 2015
but
The depreciation removed from that value is for the period SEP 2014 to SEP 2015, WHETHER YOU OWNED IT DURING ALL THAT TIME OR NOT.

This asymmetrical depreciation effect for more recent buyers hits the 2015s the hardest.

This kind of thing is why I am NOT beating the drum for how well a job the lawyers did... anyone with a clear sense of justice, fairness, yada yada would not have let this pass.

 

[MichaelB]

I mentioned this a couple of weeks ago, worth repeating.

The reason that the 2015s have a poor buyback is because the judge decided to use one single factor as a depreciation for the whole model year's worth of all of them (and that factor was also quite a bit higher than average car depreciation).

By using a single annualized factor, the actual depreciation "age" of all the 2015s, even the ones bought the week before the scandal was released to the press, were "normalized" and thus variously, arbitrarily, and outrageously extended to 1 year.

See, since the value capture snapshot was fixed for Sep 2015, THAT is the figure being depreciated by one year, even if you only owned your car a few days with 100 miles on it back then in SEP 2015, the judge hit that value WITH THE PRECEDING YEAR'S DEPRECIATION as if you bought the car in SEP 2014!

Another way to see it;

The 2015s value is pegged to Sep 2015
but
The depreciation removed from that value is for the period SEP 2014 to SEP 2015, WHETHER YOU OWNED IT DURING ALL THAT TIME OR NOT.

This asymmetrical depreciation effect for more recent buyers hits the 2015s the hardest.

This kind of thing is why I am NOT beating the drum for how well a job the lawyers did... anyone with a clear sense of justice, fairness, yada yada would not have let this pass.

If this is the case all blame is on the judge.

 

[DanB36]

The reason that the 2015s have a poor buyback is because the judge decided to use one single factor as a depreciation for the whole model year's worth of all of them (and that factor was also quite a bit higher than average car depreciation).

The judge did not decide this. Some combination of VW's lawyers, the class lawyers, the FTC lawyers, and possibly the DOJ lawyers did. Which of them suggested that number is unknown at this time, as is the basis for it (I vaguely remember seeing the number justified in one of the settlement documents, but I don't have time to find it right now). The judge has, at least thus far, agreed to it, which is what judges ordinarily do when the parties have reached a settlement.

 

[2015vwgolfdiesel]

I mentioned this a couple of weeks ago, worth repeating.

The reason that the 2015s have a poor buyback is because the judge decided to use one single factor as a depreciation for the whole model year's worth of all of them (and that factor was also quite a bit higher than average car depreciation).

By using a single annualized factor, the actual depreciation "age" of all the 2015s, even the ones bought the week before the scandal was released to the press, were "normalized" and thus variously, arbitrarily, and outrageously extended to 1 year.

See, since the value capture snapshot was fixed for Sep 2015, THAT is the figure being depreciated by one year, even if you only owned your car a few days with 100 miles on it back then in SEP 2015, the judge hit that value WITH THE PRECEDING YEAR'S DEPRECIATION as if you bought the car in SEP 2014!

Another way to see it;

The 2015s value is pegged to Sep 2015
but
The depreciation removed from that value is for the period SEP 2014 to SEP 2015, WHETHER YOU OWNED IT DURING ALL THAT TIME OR NOT.

This asymmetrical depreciation effect for more recent buyers hits the 2015s the hardest.

This kind of thing is why I am NOT beating the drum for how well a job the lawyers did... anyone with a clear sense of justice, fairness, yada yada would not have let this pass.

Appreciate your take on the matter.

Yeah, bought mine on July 15, 2015

Mileage = nil, in September 2015 ~~

Only reason i'm in good shape in this mess is because I bargained hard and got a deep discount off of MSRP

In the final out come of this -- will get a free ride for 3 years, and enough cash in hand to get a new car come Summer-Fall 2018 -- be that a 2018 model or a 2019

Two risk. Car Totaled and vw BANKRUPTCY

 

[2015vwgolfdiesel]

If this is the case all blame is on the judge.

^^^^^^^

The Judge is the problem

Personally feel the Attorneys did we for us. (at least in my case)

 

[In the Red]

Appreciate your take on the matter.

Yeah, bought mine on July 15, 2015

Mileage = nil, in September 2015 ~~

Only reason i'm in good shape in this mess is because I bargained hard and got a deep discount off of MSRP

In the final out come of this -- will get a free ride for 3 years, and enough cash in hand to get a new car come Summer-Fall 2018 -- be that a 2018 model or a 2019

Two risk. Car Totaled and vw BANKRUPTCY

Regarding totaled car, docs state that your excluded for the compenstation if you total it prior to sept 16. What happens if you total it after that?

 

[YukonLT]

Here's my question, I signed up for the fix, right now I have a loan, not through VW, but I entered the bank and $ amount on the website. Think it'll be ok if I can see about re-financing with my credit union, the title will go from my current bank to my credit union.
Any thoughts?
Hopefully with a 2010, there will be a fix and I can keep it.

Did it say anywhere that you had to have the fix performed before they gave you any $$$?

 

[2015vwgolfdiesel]

Regarding totaled car, docs state that your excluded for the compenstation if you total it prior to sept 16. What happens if you total it after that?

If I understand your question.

Today my car is fine.

If I total it today, State Farm (most likely) write a check for ~ $18,000 ???

But my buy back is frozen at $25,272 -- risk equals about $7,000

In the (unlikely) case of a vw bankruptcy at least I will be still driving a un-fixed 2015 DSG, Golf TDI

 

[In the Red]

My question was are you still eligible for buy back if you total your car after sept of 16? Docs specifically state your not eliglble if you total it now but what if its totaled for instance on oct 1 2016?

 

[2015vwgolfdiesel]

My question was are you still eligible for buy back if you total your car after sept of 16? Docs specifically state your not eliglble if you total it now but what if its totaled for instance on oct 1 2016?

I have given no research to this possibility, as it is not (yet?) of any interest to me.

Only pertinent fact that might be the answer to that question.

In a buy back, car must be driven to the dealership under its' own power.

But then thee is still the question of the car being rebuilt, and drive-able.

Maybe some other person here on TDICLUB can anwser?

 

[MichaelB]

The judge did not decide this. Some combination of VW's lawyers, the class lawyers, the FTC lawyers, and possibly the DOJ lawyers did.

But he did make a judgement on it.

 

[2015vwgolfdiesel]

^^^^^^^

 

[Rico567]

If I understand your question.

Today my car is fine.

If I total it today, State Farm (most likely) write a check for ~ $18,000 ???

But my buy back is frozen at $25,272 -- risk equals about $7,000

In the (unlikely) case of a vw bankruptcy at least I will be still driving a un-fixed 2015 DSG, Golf TDI

Let's assume that our car has the same margin in the event of our insurance (Country Companies) totalling it out if we get in a wreck. If we take the buyback at the earliest possible date and go out and buy a new car, we will take the biggest part of that $7K hit the minute we turn the key and drive it off the lot. The marginal risk of a total loss wreck is pretty small over the extra two years we'll keep it compared the certainty of that instant depreciation. So we will have pushed that event out for two years, continuing to drive and enjoy our depreciation-proof ride. I'll go for that.

In the case of the VW bankruptcy, as you point out so well......there isn't really a loss, we just continue driving a car we've enjoyed for three years, what we would be doing if Dieselgate had never occurred. So this is only a "kind of" risk, in the final issue.

 

[2015vwgolfdiesel]

Let's assume that our car has the same margin in the event of our insurance (Country Companies) totalling it out if we get in a wreck. If we take the buyback at the earliest possible date and go out and buy a new car, we will take the biggest part of that $7K hit the minute we turn the key and drive it off the lot. The marginal risk of a total loss wreck is pretty small over the extra two years we'll keep it compared the certainty of that instant depreciation. So we will have pushed that event out for two years, continuing to drive and enjoy our depreciation-proof ride. I'll go for that.

In the case of the VW bankruptcy, as you point out so well......there isn't really a loss, we just continue driving a car we've enjoyed for three years, what we would be doing if Dieselgate had never occurred. So this is only a "kind of" risk, in the final issue.

#1 Yeah --- instant depreciation

#2 Yeah --- and we are driving a TDI with all the satisfaction

#3 Yeah --- more or less like dieselgate never happen for 2 more years

#4 and one more thing. Driving my 2015 renewable registration is 'bout $100 per year, where as a new (cheap) car would be ~ $1,000 and up.

.... and I intend to time the last tag event so that the re-newal is do but not late. a hundred here and a hundred there ---

 

[rustycat]

I am curious...has anyone who registered their online claim received a 'tentative return date' other than 1-NOV? I am wondering if they are actually making appointments or just giving an estimated date.

- j

I put a fix-it date of 30 dec 18 on my submission.

 

[bubbagumpshrimp]

Originally Posted by JMugmon
I am curious...has anyone who registered their online claim received a 'tentative return date' other than 1-NOV? I am wondering if they are actually making appointments or just giving an estimated date.

- j

That date is only a placeholder. It's meant to give you an idea of the approximate starting date of the buyback program.

I went in there and manipulated the date. You could make it a later date, if you wanted to...but it would not allow you to make the date before 1 November.

I would expect to receive a call at some point (October, November, etc.) for you to post up further information (ex. Copy of vehicle registration). At that point, they'll likely make a firm appointment date.

 

[2015vwgolfdiesel]

That date is only a placeholder. It's meant to give you an idea of the approximate starting date of the buyback program.

I went in there and manipulated the date. You could make it a later date, if you wanted to...but it would not allow you to make the date before 1 November.

I would expect to receive a call at some point (October, November, etc.) for you to post up further information (ex. Copy of vehicle registration). At that point, they'll likely make a firm appointment date.

Thanks for this info.

Normally I just put the little "STICKER" on the PLATE and trash the paper work.

We just re-newed it a week ago, and for some reason I may have put the papers in with the titles.

Any way plan to do the buy back come Fall 2018

Dam Dieselgate ~~ getting paranoid X 1,000

 

[DanB36]

You don't have a registration card to keep in the car in OK? Any state I've lived in requires that.

 

[da_jokker]

Please stop spreading rumors, and go read appendix D of the DOJ settlement agreement. CARB can't force either.

This is incorrect. If you think that California won't block your registration you have never dealt with California DMV.

What they agreed on is that CA won't prevent someone from registering their car on the bases that it does not 100% comply with the smog standards.

However they will make you get whatever "fix" vw has that will get your car closer than the current 40x the limit.....and it is that "fix" that will undoubtedly create havoc on the emmision systems.

I speak as some who has had his registration blocked until I had an emmision update done to my car.

The idea of drive it like it is and don't have anything done to it is a dream if you live in Cali

 

[bubbagumpshrimp]

Thanks for this info.

Normally I just put the little "STICKER" on the PLATE and trash the paper work.

We just re-newed it a week ago, and for some reason I may have put the papers in with the titles.

Any way plan to do the buy back come Fall 2018

Dam Dieselgate ~~ getting paranoid X 1,000

As @DanB36 said...I have never heard of a state that did not require you to keep a paper copy of the vehicle registration in the vehicle. Check your states law...I would be surprised if that's not the case for you too.

 

[2015vwgolfdiesel]

You don't have a registration card to keep in the car in OK? Any state I've lived in requires that.

Best this ol' man things, is the Police only look at your TAG. (License plate)

The little sticker on it has a date. And they change the COLOR yearly. Easy for cops to see at a glance. They will ask for INSURANCE CARDS.

The little sticker comes in the mail, stapled to paper work.

Are we a little people, a silly people a barbarous people?

 

[da_jokker]

You know I just had a conspiracy idea. On the claim form it tells you you do not have to pick either option right now. What if VW is trying to get people to select one of the two options so that when people complain and try to change the terms VW can go back to the court and they say " but look your honor we have an 85% acceptance rate on our Registration site".

If I could do it again I think I would have left those blank. If you noticed they didn't give you a place to comment which would have made sense or even a question your satisfaction level of the offer.

Just saying it wouldn't surprise me if this is a ploy from VW to build their case to continue their advantage over the consumer.