r11
Veteran Member
0. If you have patience, read this 28 page document, Case 3:15-md-02672-CRB Document 1606-3 Filed 06/28/16 : https://www.vwcourtsettlement.com/e...nt Agreement/Exhibit 3 - Long Form Notice.pdf
1. Options: go for buyback by Sept 1 2018 or wait for fix (aka modification) which may never come (but we shall know by May 1 2018 so we can go with buyback by Sept 1 2018 or be on our own).
2. Timing: buyback likely to start some time in fall. They'd have designated settlement specialist at each dealership handling it. After you register, they'd have 90 days to get you in. 3 day EFT (direct deposit) or check on the spot. Dont take no Einstein to realize it is going to be mayhem. You will have till Sept 2018 to register for buyback.
3. Buyback amount: there are tables showing how much you'd get based on year/model. It is based on pre-scandal "NADA clean trade-in" value - NOT a private sale. Then, on top of that, they add some additional money (NADA value x 1.2 + $3900) , resulting in amounts from 5K to 10K and the TOTAL amt is WHAT IS LISTED IN THE TABLE. You'd need to adjust it for mileage (which is crazy !), using different table. Consensus seems to be that we're being heavily penalized for mileage.
4. Fix/mod: none yet submitted/approved. Approval will require actual on-road testing. EPA gave in and allowed higher NOX numbers for fixed cars. There wont be any money given to owners till AFTER the fix. We wont know if a fix has been approved till possibly until May 1 2018. If no emissions modification is approved for your Eligible Vehicle by May 1, 2018, then you will have an opportunity to choose a Buyback by Sept 1 2018 or you may withdraw from the Class Action Settlement, aka be on your own. Your state might decline registration after that, gray area.
5. What happens if there's no fix ever. VW will get penalized U$50K for each car it cant get fixed or take off the road. One can argue that's when we'd have very nice leverage for better compensation, but taking this route will require cahones of brass. You'd call them and say you're reasonable and only want 1/2 of the penalty they'd incur otherwise for your 9YO car
6. What happens when there is an approved fix ? You'd bring your car in, they'd fix it and you'd get your money, around $5K, after the fix is applied. You will get 48K/4Y additional wty for the components that could conceivably be affected by the fix. There's also a "lemon" provision for the fix. This seems to be fair. Impact on HP, torque and MPG is not yet known but will be explained to us. Consensus seems to be there wont be a fix for Gen1. Assuming fix is possible, Gen3 should be the easiest to fix. There's lemon law protection for the fix - if it causes issues they cant fix, you're then entitled to buyback.
7. What should I do in the interim ? Speak up as soon they open the public commenting period ! Demand private party sale value and no adjustment for mileage. We bought these for longer commutes and being penalized for it is not fair. We are not selling these cars, they are being taken away from us. 99% chance they will all simply get crushed. So mileage should not be a factor. Demand higher amt to be allocated to owners. As it stands now, 10B is for us and 5B is for govt.
8. As thousands and thousands of ppl schedule returns at the dealerships, VW is likely to offer very very significant incentives to keep us as customers. Few Ks off MSRP is likely. They might consider the payback amt as "trade-in" . Meaning in some states you wont have to pay sales tax on that amt, good for another 2K or so. The document in #0 states:
"Volkswagen through its authorized dealers may offer you incentives and trade-in options in addition
to the benefits provided by this Class Action Settlement"
9. Fate of VW TDI. Not yet known. We dont know if they lifted the hold on newer cars. We dont know if EA288, latest US-market TDI engine from VW, could test as US-compliant in actual road test . Or even Euro-6 compliant when on the road.
9.1 Fate of VW. They are north of U$220B (!) in yearly rev. US sales are measly 5%. So this is nothing. Germany, as country, will stand behind them, so they are not going anywhere.
10. Fate of small diesel engine in US. EPA might still go after other vendors - BMW, MB. Heck, Uncle Sam has just collected 5B from a German Co, why not try for more ? If these test as non-compliant in actual road testing, similar saga might unfold for these brands as well.
11. Can I still drive it ? Heck yeah. And as long as you drive 1K miles/month or less, your payback amt wont change for at least next 2 years. Some folx are afraid of getting into "totalling" accident, but they should not be, as they are covered (from the document in #0):
If you owned an Eligible Vehicle that was functioning and operable as of September 18, 2015, but was
subsequently totaled (and the title was transferred to an insurance company), you will be eligible for
benefits under the Class Action Settlement as described in this notice at Question 19. 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.
12. How to object
If you do not exclude yourself from the Class Action Settlement, you may object to it. The Court will consider your views. To comment on or to object to the Class Action Settlement, you or your attorney must submit your written objection to the Court, including the following:
• Your name, address, and telephone number;
• A statement saying that you object to the Class Action Settlement in In re: Volkswagen
“Clean Diesel” Marketing, Sales Practices, and Products Liability Litigation, No. 3:15-
md-2672 (N.D. Cal.);
• The reasons you object to the Class Action Settlement, along with any supporting
materials;
• The VIN of your Eligible Vehicle and the dates you owned or leased the Eligible
Vehicle; and
• Your signature and date.
In addition, if you intend to appear at the final approval hearing (the “Fairness Hearing”), you must
submit a written notice of your intent (see Question 56 below).
You must mail your objection to the three addresses mentioned in the PDF in #0
Or in person:
The Court will hold the Fairness Hearing at XX:00 x.m. on Month 00, 0000, at the United States District Court for the Northern District of California, located at the United States Courthouse, 450 Golden Gate Avenue, San Francisco, CA 94102, before determining whether to approve the Class Action Settlement.
The hearing may be moved to a different date or time without additional notice, so it is a good idea to check www.VWCourtSettlement.com or call 1-844-98-CLAIM. At this hearing, the Court will hear evidence about whether the Class Action Settlement is fair, reasonable, and adequate.
If there are objections, the Court will consider them and may listen to people who have asked to speak at the hearing. After the hearing, the Court will decide whether to approve the Class Action Settlement. We do not know how long these decisions will take.
101. Sh1ts & giggles.
Govt gets 5B from VW. They mentioned some of it will "go to tribes". Funny.
Funny verbiage about Gen3 fix, indicating they already have pretty good idea of what it will take to fix that one:
"The parties anticipate that the generation 3 vehicles will require a two-dealer-visit modification
process. Two-thirds (2/3) of the cash payment will be paid upon the first visit to the dealer, and one-third
(1/3) of the cash payment will be paid upon the second visit to the dealer. A free oil change with
respective engine oil filter will also be provided on the second visit to the dealer. "
1. Options: go for buyback by Sept 1 2018 or wait for fix (aka modification) which may never come (but we shall know by May 1 2018 so we can go with buyback by Sept 1 2018 or be on our own).
2. Timing: buyback likely to start some time in fall. They'd have designated settlement specialist at each dealership handling it. After you register, they'd have 90 days to get you in. 3 day EFT (direct deposit) or check on the spot. Dont take no Einstein to realize it is going to be mayhem. You will have till Sept 2018 to register for buyback.
3. Buyback amount: there are tables showing how much you'd get based on year/model. It is based on pre-scandal "NADA clean trade-in" value - NOT a private sale. Then, on top of that, they add some additional money (NADA value x 1.2 + $3900) , resulting in amounts from 5K to 10K and the TOTAL amt is WHAT IS LISTED IN THE TABLE. You'd need to adjust it for mileage (which is crazy !), using different table. Consensus seems to be that we're being heavily penalized for mileage.
4. Fix/mod: none yet submitted/approved. Approval will require actual on-road testing. EPA gave in and allowed higher NOX numbers for fixed cars. There wont be any money given to owners till AFTER the fix. We wont know if a fix has been approved till possibly until May 1 2018. If no emissions modification is approved for your Eligible Vehicle by May 1, 2018, then you will have an opportunity to choose a Buyback by Sept 1 2018 or you may withdraw from the Class Action Settlement, aka be on your own. Your state might decline registration after that, gray area.
5. What happens if there's no fix ever. VW will get penalized U$50K for each car it cant get fixed or take off the road. One can argue that's when we'd have very nice leverage for better compensation, but taking this route will require cahones of brass. You'd call them and say you're reasonable and only want 1/2 of the penalty they'd incur otherwise for your 9YO car
6. What happens when there is an approved fix ? You'd bring your car in, they'd fix it and you'd get your money, around $5K, after the fix is applied. You will get 48K/4Y additional wty for the components that could conceivably be affected by the fix. There's also a "lemon" provision for the fix. This seems to be fair. Impact on HP, torque and MPG is not yet known but will be explained to us. Consensus seems to be there wont be a fix for Gen1. Assuming fix is possible, Gen3 should be the easiest to fix. There's lemon law protection for the fix - if it causes issues they cant fix, you're then entitled to buyback.
7. What should I do in the interim ? Speak up as soon they open the public commenting period ! Demand private party sale value and no adjustment for mileage. We bought these for longer commutes and being penalized for it is not fair. We are not selling these cars, they are being taken away from us. 99% chance they will all simply get crushed. So mileage should not be a factor. Demand higher amt to be allocated to owners. As it stands now, 10B is for us and 5B is for govt.
8. As thousands and thousands of ppl schedule returns at the dealerships, VW is likely to offer very very significant incentives to keep us as customers. Few Ks off MSRP is likely. They might consider the payback amt as "trade-in" . Meaning in some states you wont have to pay sales tax on that amt, good for another 2K or so. The document in #0 states:
"Volkswagen through its authorized dealers may offer you incentives and trade-in options in addition
to the benefits provided by this Class Action Settlement"
9. Fate of VW TDI. Not yet known. We dont know if they lifted the hold on newer cars. We dont know if EA288, latest US-market TDI engine from VW, could test as US-compliant in actual road test . Or even Euro-6 compliant when on the road.
9.1 Fate of VW. They are north of U$220B (!) in yearly rev. US sales are measly 5%. So this is nothing. Germany, as country, will stand behind them, so they are not going anywhere.
10. Fate of small diesel engine in US. EPA might still go after other vendors - BMW, MB. Heck, Uncle Sam has just collected 5B from a German Co, why not try for more ? If these test as non-compliant in actual road testing, similar saga might unfold for these brands as well.
11. Can I still drive it ? Heck yeah. And as long as you drive 1K miles/month or less, your payback amt wont change for at least next 2 years. Some folx are afraid of getting into "totalling" accident, but they should not be, as they are covered (from the document in #0):
If you owned an Eligible Vehicle that was functioning and operable as of September 18, 2015, but was
subsequently totaled (and the title was transferred to an insurance company), you will be eligible for
benefits under the Class Action Settlement as described in this notice at Question 19. 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.
12. How to object
If you do not exclude yourself from the Class Action Settlement, you may object to it. The Court will consider your views. To comment on or to object to the Class Action Settlement, you or your attorney must submit your written objection to the Court, including the following:
• Your name, address, and telephone number;
• A statement saying that you object to the Class Action Settlement in In re: Volkswagen
“Clean Diesel” Marketing, Sales Practices, and Products Liability Litigation, No. 3:15-
md-2672 (N.D. Cal.);
• The reasons you object to the Class Action Settlement, along with any supporting
materials;
• The VIN of your Eligible Vehicle and the dates you owned or leased the Eligible
Vehicle; and
• Your signature and date.
In addition, if you intend to appear at the final approval hearing (the “Fairness Hearing”), you must
submit a written notice of your intent (see Question 56 below).
You must mail your objection to the three addresses mentioned in the PDF in #0
Or in person:
The Court will hold the Fairness Hearing at XX:00 x.m. on Month 00, 0000, at the United States District Court for the Northern District of California, located at the United States Courthouse, 450 Golden Gate Avenue, San Francisco, CA 94102, before determining whether to approve the Class Action Settlement.
The hearing may be moved to a different date or time without additional notice, so it is a good idea to check www.VWCourtSettlement.com or call 1-844-98-CLAIM. At this hearing, the Court will hear evidence about whether the Class Action Settlement is fair, reasonable, and adequate.
If there are objections, the Court will consider them and may listen to people who have asked to speak at the hearing. After the hearing, the Court will decide whether to approve the Class Action Settlement. We do not know how long these decisions will take.
101. Sh1ts & giggles.
Govt gets 5B from VW. They mentioned some of it will "go to tribes". Funny.
Funny verbiage about Gen3 fix, indicating they already have pretty good idea of what it will take to fix that one:
"The parties anticipate that the generation 3 vehicles will require a two-dealer-visit modification
process. Two-thirds (2/3) of the cash payment will be paid upon the first visit to the dealer, and one-third
(1/3) of the cash payment will be paid upon the second visit to the dealer. A free oil change with
respective engine oil filter will also be provided on the second visit to the dealer. "
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