Unfair for recent sellers of tdi?

[shane1900]

Hi all,
We needed to sell our TDI in Dec 2015 after dieselgate was announced. So logically you would think we would receive the majority of the settlement as we owned the car for the majority of the time.

BUT we will receive very little, the new owner will receive the majority of the benefit even though they bought the car knowing of dieselgate. They were not scammed, they did not suffer from excessive emissions for the life of the car.
We sold our car for $12,000 rather than the $18,000 list price because of the scandal.* So we should be getting $6000 just for that. But we will get nothing.

The new owner got the car at $12,000 so they should not be getting any of our loss.* They are the ones who benefitted from this. VW will buy back from them for $24,000!!!!!!

And we owned the car for 99% of the life of it so we should be getting restitution for the fraud they committed and tricking us to buy the car with this issue.* Not splitting restitution 50/50 with a new owner who's had it for 6 months.

Based on the Hagens Berman class action lawsuit site it was implied they would fight for those who had to sell recently and would be compensated.
http://web.archive.org/web/20151202...esource-hub/vwaudi-frequently-asked-questions
I fear a significant loss in resale value. What can I expect?
It is highly likely that the affected vehicles will suffer a significant loss in resale value.* If you chose to sell your car, please keep detailed records of the transaction as your loss in resale value may be recoverable in the class action.

What actions can I take? Private lawsuit etc.?

 

[PeteZ06]

You jumped the gun and sold your car at a price you were ok with in Dec 2015, that was YOUR decision. Now you want VW to pay for your mistake?

 

[VeeDubTDI]

Since we find ourselves in a one month comment period, your best course of action is to explain your situation to whatever committee/forum is reviewing public comments. Be sure to do this before the end of July (29th?)!

 

[mafrif]

A lot of people were in the same shoes. I bought a new van already, there was no way I was gonna give the car away for 12k and not be made whole. Sorry but you had to know there was a good chance you would be out the money.

 

[iadubber]

How do you know what the buyer is doing to get. If it was bought after September they will not get the full amount as stated in the court filings.


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[dgoodhue]

At least you are eligible for some compensation.

 

[DanB36]

@shane1900, as the proposed settlement reads now, you're eligible for half of the compensation that would be paid for getting the fix on the car; the buyer gets the other half (plus the trade-in value, if they decide to sell it back). There's a sticky thread here with instructions on calculating that. If you don't think that's appropriate, you can object to the settlement if you wish.

 

[cdzero]

Why wouldn't the buyer receive the majority of the compensation when they assumed the risk?

 

[thebigarniedog]

Hi all,
We needed to sell our TDI in Dec 2015 after dieselgate was announced. So logically you would think we would receive the majority of the settlement as we owned the car for the majority of the time.

BUT we will receive very little, the new owner will receive the majority of the benefit even though they bought the car knowing of dieselgate. They were not scammed, they did not suffer from excessive emissions for the life of the car.
We sold our car for $12,000 rather than the $18,000 list price because of the scandal.* So we should be getting $6000 just for that. But we will get nothing.

The new owner got the car at $12,000 so they should not be getting any of our loss.* They are the ones who benefitted from this. VW will buy back from them for $24,000!!!!!!

And we owned the car for 99% of the life of it so we should be getting restitution for the fraud they committed and tricking us to buy the car with this issue.* Not splitting restitution 50/50 with a new owner who's had it for 6 months.

Based on the Hagens Berman class action lawsuit site it was implied they would fight for those who had to sell recently and would be compensated.
http://web.archive.org/web/20151202...esource-hub/vwaudi-frequently-asked-questions
I fear a significant loss in resale value. What can I expect?
It is highly likely that the affected vehicles will suffer a significant loss in resale value.* If you chose to sell your car, please keep detailed records of the transaction as your loss in resale value may be recoverable in the class action.

What actions can I take? Private lawsuit etc.?

It is a matter of perspective. The car did not stop running. The interior did not melt. The car produces tremendously less environmental impact than that of most other vehicles on the roadway measured from the oil well forward. Like a stock receiving bad news the impact of the software program on emissions impact reduced the confidence of future potential buyers wanting to purchase your vehicle, which can cause panic selling on the market.

That said, this news had zero impact on the day to day operations of the vehicle for the intended purpose of moving you from point A to point B. I would think that the HPFP issue is more of a distressing factor than my decision/hope to sell a car rather than drive a car, but in any event you sold the car and received payment from that sale. I am at a loss why you should receive any more than you bargained for from that sale for that stress?

 

[CraziFuzzy]

The buyer is getting half the restitution (if he gets it fixed or sells it back), you are getting half the restitution (no matter what the buyer does, for owning a vehicle that you don't even own. That ain't bad.

 

[Armby]

Not sure why you think you were damaged by driving the car for most of its life. The higher emissions did not damage you, they damaged the environment.

You were hurt in that you had to sell at a discount. You can be at least partially compensated by claiming half the Restitution as described in the settlement. The buyer likewise gets the other half of the restitution plus the Trade in value. Do you think you should collect the trade in value plus what you got from the buyer when you sold?


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[ecupip]

$24,000 seems very high for a Jetta. What year/options/mileage was it?

Remember the buyback figure is the full amount for owners that did not sell their car and were the owners in September last year. The new owner will be subject to the trade-in value less 50% of the restitution for their buyback figure.

I think it is a very fair deal. They are not getting a significant cash compensation for restitution, the majority of what they get is the pre-scandal trade-in amount because VW wants to entice the current owner to get them off the road.

 

[jimbote]

Why wouldn't the buyer receive the majority of the compensation when they assumed the risk?

exactly!.... and if vw really wants these off the road 100% of the compensation should go to the CURRENT owner period... if they want to feel "sowry" for the PO then give them 50% but don't take that 50% from the current owners compensation !

 

[da_jokker]

Yeah sorry to say but you willingly (whether you were aware of the scandal or not) sold a car after the fact.

It would be like buying a Lotto ticket, selling it to someone, and then they win the numbers... you are SOL.

 

[dgoodhue]

The new owner got the car at $12,000 so they should not be getting any of our loss.* They are the ones who benefitted from this. VW will buy back from them for $24,000!!!!!!

If you sold your car to dealership, the dealer likely made their profit and the new owner probably paid $15-16K, not the trade in value. The new owner took a risk in that they may have not been eligible for any compensation as and that car would further would have a high depreciate.

If your were forced sell your TDI whether or not dieselgate happen, you would been trading your car in anyways. Here is the pre scandal sept NADA value. I am guessing you had a 2014 TDI Jetta.

The trade in value of a 2014 TDI Jetta was 15,600 in sept. (which also would normally have continued in Dec.)

https://imgur.com/gallery/F1M7Q

Your portion of the $6500 is $3250, so you are looking at
$12,000 + $3250 = $15,250. So it looks like your are out $350. If you signed up for the Goodwill Package, you would be ahead.

 

[ReadyKilowatt]

Yeah sorry to say but you willingly (whether you were aware of the scandal or not) sold a car after the fact.

It would be like buying a Lotto ticket, selling it to someone, and then they win the numbers... you are SOL.

Happens every day in the stock market. A lot of people sold Apple stock for $4/share. The other side of the trade means lots of people bought it for $4/share.

The only real difference is that the settlement has drastically altered the market for TDI vehicles, but then again the iPhone drastically altered the market for Apple stock. If we all had perfect forecasting knowledge we'd never buy or sell anything.

 

[n1das]

You jumped the gun and sold your car at a price you were ok with in Dec 2015, that was YOUR decision. Now you want VW to pay for your mistake?

What PeteZ06 said.

Happens every day in the stock market. A lot of people sold Apple stock for $4/share. The other side of the trade means lots of people bought it for $4/share.
The only real difference is that the settlement has drastically altered the market for TDI vehicles, but then again the iPhone drastically altered the market for Apple stock. If we all had perfect forecasting knowledge we'd never buy or sell anything.

The scandal caught the habitual traders off guard. The panic TDI selling reminds me of normal everyday turmoil in the stock market. For anybody in the market for a used TDI, the scandal has made it a great time to play vulture and find some deals.

Since we find ourselves in a one month comment period, your best course of action is to explain your situation to whatever committee/forum is reviewing public comments. Be sure to do this before the end of July (29th?)!

What VeeDubTDI said. I don't have a horse in the TDI race but indirectly I do as a diesel car owner and a former TDI owner. With my logging around 1000 miles/week, there is no way I'm ever going back to a gasser again if I can help it. Whatever vehicles I own, they HAVE to be DIESEL. As an interested party and concerned about the long term future of diesel cars, I plan to file comments too.

 

[Flogger]

I purchased a 2014 Passat yesterday for $16,500. I guess I will know in a month or so if it was a bad move.

 

[BPofMD]

When did the previous owner sell the car? Did you buy it via "private sale" or from a car lot?

 

[Flogger]

When did the previous owner sell the car? Did you buy it via "private sale" or from a car lot?

Used Car Lot of a "Big Three" Dealer

 

[sierra3]

You are getting 50% of the compensation...BUT YOU MUST REGISTER FOR IT as an "eligible seller'. These are the only class members that MUST do something.

 

[sierra3]

I purchased a 2014 Passat yesterday for $16,500. I guess I will know in a month or so if it was a bad move.

Flogger, what kind of miles on the new TDI?
What is your current one?

 

[goodysgotacuda]

You jumped the gun and sold your car at a price you were ok with in Dec 2015, that was YOUR decision. Now you want VW to pay for your mistake?

Yep. Tough bananas.

 

[dropnosky]

You jumped the gun and sold your car at a price you were ok with in Dec 2015, that was YOUR decision. Now you want VW to pay for your mistake?

another day another one of these idiotic threads. Absolutely nothing unfair about the OPs situation. Personally I believe he should get nothing, I would count myself lucky that I was getting anything at all and stop whining.

 

[turbocharged798]

The entitlement attitude with these dieselgate threads is just astounding. VW gave you a running driving car that got better than stated MPG. VW doesn't owe you a dime. The issue is between VW and EPA, CARB. I think people want to jump on a quick payday which is why all the emotional drama is coming in.

 

[Leeshepard]

The entitlement attitude with these dieselgate threads is just astounding. VW gave you a running driving car that got better than stated MPG. VW doesn't owe you a dime. The issue is between VW and EPA, CARB. I think people want to jump on a quick payday which is why all the emotional drama is coming in.

VW intentionally broke the law to sell cars they otherwise wouldn't have been able to sell and VW is being penalized. It is better that we the buyers of those cars and the victims of VW's fraud get compensated and not the government.

 

[RebelTDI]

I traded my 2010 Jetta in on my X3 this past March. I was satisfied with the deal I got. The Jetta was going to need some work at the time. If I get anything back in addition I'll be thrilled!

 

[turbocharged798]

VW intentionally broke the law to sell cars they otherwise wouldn't have been able to sell and VW is being penalized. It is better that we the buyers of those cars and the victims of VW's fraud get compensated and not the government.

Explain to me how you are a "victim." Did VW cause you physical harm? No. Did VW cheat you out of money? No, in fact the cheat saved you money at the pump. Did VW threaten you harm? No.

As for clean diesel marketing, did VW sell you a clean burning diesel? Yes, the CR TDIs are the cleanest burning IC engines on the market. No other engine has no soot at all inside the tailpipe.

You my friend are NOT a victim.

 

[john.jackson9213]

Hi all,
We needed to sell our TDI in Dec 2015 after dieselgate was announced.

<SNIP>

What actions can I take? Private lawsuit etc.?

Yes, you should sue the person who FORCED you to sell the TDI. Spend $30K on a lawyer. Great idea.

Honestly, I have no clue why your were "forced" to sell it?? Unable to make the loan payment? Got a great deal on a new car you could not pass up? Had a medical issue that you needed a handicapped van?

 

[dropnosky]

yes, he will sue VW because he decided to sell his car months ago and now hes upset that there is some kind of compensation he is only partly eligible for.

Stupidest thing ive heard in a while. The OP is likely one of those people who eats half a package of cookies and tries to return it for his money back.