How to do your buyback calculations (& post them here!)

[aja8888]

I think we need an interview process to determine true damage compensation.

"Show me on the model where the evil corporation hurt you."
*hands customer a 1:24 diecast model of a Jetta*

I suspect that process could be requested during the public comment period. Maybe even get VW paid counselling for emotional damage?

 

[Chacko]

I think we need an interview process to determine true damage compensation.

"Show me on the model where the evil corporation hurt you."
*hands customer a 1:24 diecast model of a Jetta*

Actually the attorney wouldn't be allowed to hand you the model since the Governments goal is 100% of the cars taken off the road or heavily modified

Glad you think no owners are harmed. Anyways I'm getting $7400 for salvage title, at least $13,150 in buy back and I'm filing suit for $2500 for lost value and prorated taxes.

So my goal, because I 100% serve my own self interests, is to net $23,150 on a 7 year old car with 146,000 miles on it.

If it's me vs 'the evil corporation' I'll choose me. You can cry all the sympathetic tears you want for VW.

 

[njn63]

I suspect that process could be requested during the public comment period. Maybe even get VW paid counselling for emotional damage?

NOW WE'RE TALKING

Everyone is only worried about getting the initial monetary compensation. What about the long term mental effects from owning an emissions cheating car? I'll never be able to trust what an automaker says again!

Actually the attorney wouldn't be allowed to hand you the model since the Governments goal is 100% of the cars taken off the road or heavily modified

The die cast cars exceed emission regulations too?

Glad you think no owners are harmed.

I think there are probably some outliers that are not getting fair compensation. I don't think your case is one of them and I think you're being ridiculous in thinking you deserve compensation beyond what VW has already offered.

That doesn't mean you won't get it (although I'm going to guess VW's lawyers make more in an hour than your attorney makes in a week), it's just that I don't see any basis for your demand for additional compensation.

 

[Chacko]

The die cast cars exceed emission regulations too?

I think there are probably some outliers that are not getting fair compensation. I don't think your case is one of them and I think you're being ridiculous in thinking you deserve compensation beyond what VW has already offered.

it's just that I don't see any basis for your demand for additional compensation.

I'm advocating PPV not trade in. It's amazing that I'm somehow being greedy. We will have to agree to disagree.

 

[autdi]

NADA is far more respected as being accurate than KBB, or 'listings on autotrader'. NADA tracks actual completed sales, NOT listings - which is why banks and insurance companies trust NADA far more than they do KBB. If anything, the only issue some might have is using the NADA trade-in value - but after you add the 20%, you are up higher than the retail values anyway - the older ones even get an additional boost due to the 5,100 minimum pushing the total up a few hundred more as well.

While NADA may be trusted, they are not necessarily accurate. Parents had a pickup totaled after an accident. Insurance offered NADA. Parents looked in a 500 mile radius for a similar truck, couldn't buy one that was similar age and miles for what was offered. Insurance company came up to the price needed to buy a similar truck that was actually for sale. A single data point, but shows that NADA is not always tracking the actual market.

 

[2015vwgolfdiesel]

You'll make more $$, typically, by selling your car on your own as a private party vs trading it in.

Correcto

Sell your used car as close to full bore RETAIL as you can

Buy the new one as low as possible.

Last year shopped 3 states to get my VW, and 2 states to get my wife's RAV4 LIMITED

Both cars I only used the phone and email to dicker.

Both cars were delivered to our drive way, all papers signed in the front room ~~ no deposits, or credit cards. Only let them check the FICO

 

[GoFaster]

I'm advocating PPV not trade in. It's amazing that I'm somehow being greedy. We will have to agree to disagree.

20% above trade-in plus $2987 will be above retail a year or two after the trade-in value lock-in date. It doesn't matter how the number was arrived at.

 

[ccbsecu]

2011 Jetta

SE region

Base value: $17,087

94k

Options:
6MT -840
No Nav +0
Power MoonRoof +600
Mileage -1,740 (90k to 95k)

Adjusted Buy Back value: $15,107

 

[2015vwgolfdiesel]

If there is NO fix ~~ you have 2 options

From long form LINE 31

If no emissions modification is approved for your Eligible Vehicle by May 1, 2018, then you will have an opportunity to choose a Buyback or you may withdraw from the Class Action Settlement.

1 ~~ opt out

2 ~~ take the buy back

.... gov wants 'em off the road.

... anyone see a squeeze play coming for the GEN 1 units?

 

[FloridaJohn]

Glad you think no owners are harmed. Anyways I'm getting $7400 for salvage title, at least $13,150 in buy back and I'm filing suit for $2500 for lost value and prorated taxes.

I'm not exactly sure what you are saying here, but it sounds like your intention is to take the buyback dollars from VW, and then sue them for an additional $2500.

If that is what you are intending, then I'm pretty sure you will not be able to do that. By taking the buyback dollars, you will be required to sign something that says you can no longer sue VW. If you want to sue them for additional dollars, you will need to opt out of the CAS, and then sue for the entire amount on your own.

I apologize if I misunderstood your intentions from your post.

 

[Chacko]

20% above trade-in plus $2987 will be above retail a year or two after the trade-in value lock-in date. It doesn't matter how the number was arrived at.

You are conflating two factors. You can't mix them.

1. Is buying the cars to get them off the street. This is what the Government is requiring.

If I'm selling I'm going to want to sell at the PPV value in 09/2015. I'm not trading my car in.

2. A whole different kettle of fish: Owner compensation.


Look bottom line is you aren't 'getting' what I and many other owners are reasonably asking for. You take what ever bending over you want to. I'm exploring my options to extract PPV value out of VW.

 

[Chacko]

I'm not exactly sure what you are saying here, but it sounds like your intention is to take the buyback dollars from VW, and then sue them for an additional $2500.

If that is what you are intending, then I'm pretty sure you will not be able to do that. By taking the buyback dollars, you will be required to sign something that says you can no longer sue VW. If you want to sue them for additional dollars, you will need to opt out of the CAS, and then sue for the entire amount on your own.

I apologize if I misunderstood your intentions from your post.

I'm attempting to sue them before there is an actual settlement. Currently there is no settlement and I haven't signed any rights away in this regard. It's just small claims and I just need the difference from trade-in and PPV. Sometimes the only person that is going to watch out for yourself is yourself.

I'm looking at the proposed settlement to make sure there is no verbiage about prior legal actions excluding me.

 

[swampyankee]

Thanks. This is the only point I'm trying to make the NADA values are stratified based on how the vehicle is being sold.

I mean why not look at auction value if we are to be pedantic?

My complaint isn't the compensation. I'll take 20% + $2900. Just base it on the PPV and not the trade in.

Then I'll be satisfied and felt treated fairly by VW. Sorry that some feel I'm asking for too much. Please remember I don't get input on the 'compensation' but I should be allowed to complain about the private sale value.

I don't understand how some think they can actually sell at PPV.... seriously

 

[2015vwgolfdiesel]

I don't understand how some think they can actually sell at PPV.... seriously

For 'bout 55 years I have put my (and other family) used cars for sale at my house

My starting asking price is at full bore dealer retail ~~ not at PPV

Many buyers would rather get a used car from the owner, rather from a used car dealer.

Remember one time a man ask me where it was parked in the garage. He looked ~~ no LEAKS ~~ done deal.

.... a little time, an ad, few days, BINGO

 

[Chacko]

I don't understand how some think they can actually sell at PPV.... seriously

I know. Just think of all those people on Craigslist, AutoTrader, Cars.com, Ebay.

It's a conspiracy I tell you. That they dare sell a car at PPV vs trading it in on another vehicle at a dealership.

You should write Obama and see if he'll invite you for a beer.

 

[2015vwgolfdiesel]

I know. Just think of all those people on Craigslist, AutoTrader, Cars.com, Ebay.

It's a conspiracy I tell you. That they dare sell a car at PPV vs trading it in on another vehicle at a dealership.

You should write Obama and see if he'll invite you for a beer.

last year Ebay and CL were winners for me.

zero ad fee on CL for the 2003 VW Golf gasser

Literally had last minute equal offers on Ebay, and CL, for the 2001 Camry Legally marked it SOLD on Ebay,

Zero ad fees again.

 

[swampyankee]

I know. Just think of all those people on Craigslist, AutoTrader, Cars.com, Ebay.

It's a conspiracy I tell you. That they dare sell a car at PPV vs trading it in on another vehicle at a dealership.

You should write Obama and see if he'll invite you for a beer.

Good luck with that! also good luck convincing a judge, or anybody, that you are entitled to more than what VW is offering....

You might get lucky and find somebody to buy a late model care at PPV. Myself, I prefer to go to dealers because I know that all the prep work is done.... tires, oil filter, etc. I buy CPO too- something you cannot offer.

I'm sure there is a line of people just waiting for your TDI lol

 

[Chacko]

... anyone see a squeeze play coming for the GEN 1 units?

I'd bet that there is like 1% chance of a fix for Gen 1 TDi's. Urea Injection just isn't going to be possible on these cars. Technically they could (we did put people on the moon) but it's not happening.

The risk you take is getting in an accident and the car totaled or the ticking parts time bomb that Gen 1's are (especially 2009's) costing you more in repair costs then another 1.5 years of free driving.

Pigs get fat, hogs get slaughtered.

 

[Chacko]

Good luck with that! also good luck convincing a judge, or anybody, that you are entitled to more than what VW is offering....

I'll let you know how it goes. I've nothing to lose.

 

[2015vwgolfdiesel]

snip


Myself, I prefer to go to dealers because I know that all the prep work is done.... tires, oil filter, etc. I buy CPO too- something you cannot offer.

snip

Going first class ~~ buying from dealers and CPO ~~~ is great

If you can afford it ~~ You get what you pay for ~~ maybe

guessing the dealer cost on a CPO used car is 'bout $1,000 for the CPO and up to $3,500 over the price of private party buy

 

[swampyankee]

Going first class ~~ buying from dealers and CPO ~~~ is great

If you can afford it ~~ You get what you pay for ~~ maybe

guessing the dealer cost on a CPO used car is 'bout $1,000 for the CPO and up to $3,500 over the price of private party buy

Too many issues with private party at the price point I'm at....

Buying from a dealer gets me peace of mind. Was looking at the Gran Coupe- 650 and the only private party I saw was a car that was in an accident. No thanks

 

[2015vwgolfdiesel]

Too many issues with private party at the price point I'm at....

Buying from a dealer gets me peace of mind. Was looking at the Gran Coupe- 650 and the only private party I saw was a car that was in an accident. No thanks

Great!

How is the Gran Coupe 650 working out for you?

 

[swampyankee]

Great!

How is the Gran Coupe 650 working out for you?

Didn't get one. Thanks for asking though

 

[swampyankee]

Great!

How is the Gran Coupe 650 working out for you?

Last thing I want to do is go to some CL person's house..... but I guess if all CL sellers were as awesome as you I wouldn't have a worry.... problem is, generally this is a waste of time. Most "sellers" are dealers anyway

 

[St.Hubbins]

not great at following directions, but here goes:

2010 in SE ($15,467)
+DSG ($660)
base = $16,127

current mileage 65k
adj. mileage 52k (+$1,200 + $3,900)

buyback = $21,227?

seems my mileage adj. figure is too high, but in my mind i followed the equation ;l

 

[DanB36]

adj. mileage 52k (+$1,200 + $3,900)

52k miles on a 2010 Golf yields a buyback mileage adjustment of $1200. Where does the extra $3900 come from? It looks like you're trying to come up with a minimum mileage adjustment of +$5100, which isn't the way it works.

You've got the correct base buyback price for your car, and the correct adjustment for options. Now you also need to figure the modification amount ($5067, + $110 for the DSG, or $5177). To that, add the mileage adjustment for modification ($200, for a new total of $5377). If, and only if, the modification amount is less than $5100, you do further calculations. Your modification amount isn't, so no further changes. Your buyback would be $17,327.

 

[Bruce Land]

This comment/question may have already been answered.

In reviewing the FTC Press Release on 6/28/16 for the settlement it was stated that for cars financed through VW Credit that the loan would be "forgiven" and third party loans would be repaid by VW. I talked to the FTC this morning and they could not answer how loans will be forgiven by VW. Does anyone have any information on how loans be paid off depending on where you got your financing?

How VW Credit loans will be forgiven/paid off will have a big impact on whether I opt out of the settlement.

 

[autdi]

This comment/question may have already been answered.

In reviewing the FTC Press Release on 6/28/16 for the settlement it was stated that for cars financed through VW Credit that the loan would be "forgiven" and third party loans would be repaid by VW. I talked to the FTC this morning and they could not answer how loans will be forgiven by VW. Does anyone have any information on how loans be paid off depending on where you got your financing?

How VW Credit loans will be forgiven/paid off will have a big impact on whether I opt out of the settlement.

CAS settlement doc 4.2.2 pdf page 17:
For Eligible Owners with Loan Obligations, some or all of the Vehicle Value and Owner Restitution will be paid directly to such Eligible Owners’ lenders. Subject to the conditions described in more detail in Exhibit 1, Eligible Owners will be eligible for Loan Forgiveness in an amount up to 30% of the sum of the Vehicle Value and the Owner Restitution payment. Basically if you need 130% to pay off the loan, you get 0.

 

[DUBPL8]

CAS settlement doc 4.2.2 pdf page 17:
For Eligible Owners with Loan Obligations, some or all of the Vehicle Value and Owner Restitution will be paid directly to such Eligible Owners’ lenders. Subject to the conditions described in more detail in Exhibit 1, Eligible Owners will be eligible for Loan Forgiveness in an amount up to 30% of the sum of the Vehicle Value and the Owner Restitution payment. Basically if you need 130% to pay off the loan, you get 0.

So in my case, I owe ~$8800 on my loan for my 2012 TDI. Would it be of my benefit to pay the car off now? I have no reason to pay it off quick since my APR is 1.9%, but thought I'd ask. Loan is through VW Credit as well.

 

[LogicBomb]

So in my case, I owe ~$8800 on my loan for my 2012 TDI. Would it be of my benefit to pay the car off now? I have no reason to pay it off quick since my APR is 1.9%, but thought I'd ask.

Have you worked out how much VW is going to buy back the vehicle for, using the preliminary metrics?

If not, I suggest you do so, as you probably are going to get more back than you owe on it.