Wife totaled our 2010 Golf TDI last week. How screwed are we?
- Thread starter back2vw
- Start date
JohnQ
Active member
From what i can read in their proposal, any branded title is not eligible.. im not tryjng to spread false rumor, but im also not an english major.. to be eligible, you have to have an operable car, and they say an operable car is..
I hope im wrong as i am in the same boat amd yes insurance is absolutely hounding me about having the claim still open.
I hope im wrong as i am in the same boat amd yes insurance is absolutely hounding me about having the claim still open.
Oberkanone
Top Post Dawg
Thoughts
Stated range of values are listed in the VW Settlement. I'd propose to settle insurance claim for value within the VW Settlement range. That is the value of a VW TDI today to the best of our knowledge.
VW Golf Hatchback 2D TDI $15,025 – $16,877
VW Golf Hatchback 4D TDI $15,500 – $17,447
If your insurance company is offering a value within this range then I'd take the money and move on.
Stated range of values are listed in the VW Settlement. I'd propose to settle insurance claim for value within the VW Settlement range. That is the value of a VW TDI today to the best of our knowledge.
VW Golf Hatchback 2D TDI $15,025 – $16,877
VW Golf Hatchback 4D TDI $15,500 – $17,447
If your insurance company is offering a value within this range then I'd take the money and move on.
Oberkanone
Top Post Dawg
FYI - Even if you settle with your insurance company you may get additional compensation from VW.
tjsadler
Veteran Member
I'm in the same boat with my Passat. As I read all the paperwork if it wasn't already branded "Salvaged" on 9/18/15 then it is not excluded provided you keep it (for the salvage price) and repair it to operable condition. If you just hand it over to the insurance company now it is just like if you sold it after 6/28/16 and you are excluded from the settlement. I'm personally salvaging mine. I can buy it back and have it running for about $4k (I can do the work myself. YMMV) so best case they still buy it back and I'm WAY ahead, worst case I have a 2014 Passat for $4k-$5k and we keep driving it with no payments. There is a line in one of the documents that says it had to be "running under the power of its own TDI motor" on 6/28/16 so I started mine up and filmed myself driving around my neighborhood just in case...
I'm assuming that a loophole this big will be addressed but who knows?
I'm assuming that a loophole this big will be addressed but who knows?
tjsadler
Veteran Member
Here are a couple relevant sections (Control-F is your friend 
)
2.31. “Eligible Seller” means a person who purchased or otherwise acquired an Eligible
Vehicle on or before September 18, 2015, and sold or otherwise transferred ownership of such
vehicle after September 18, 2015, but before June 28, 2016. For avoidance of doubt, Eligible
Seller includes any owner (1) who acquired his, her, or its Eligible Vehicle on or before
September 18, 2015, (2) whose Eligible Vehicle was totaled, and (3) who consequently
transferred title of his, her, or its vehicle to an insurance company after September 18, 2015, but
before June 28, 2016.
So if you had transferred title prior to 6/28 then you'd be a "seller" and would receive 50% of the "oops" money or about $2500.
11. Can I receive benefits if my car was totaled after September 18, 2015?
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.
So if you hand over the car to the insurance now you are out of the settlement completely. At least that's what it currently says. I'm definitely not a lawyer but it seems pretty clear. You either total it and let the insurance company take it or you total it and pay the salvage value to keep it and then get it running asap.
)2.31. “Eligible Seller” means a person who purchased or otherwise acquired an Eligible
Vehicle on or before September 18, 2015, and sold or otherwise transferred ownership of such
vehicle after September 18, 2015, but before June 28, 2016. For avoidance of doubt, Eligible
Seller includes any owner (1) who acquired his, her, or its Eligible Vehicle on or before
September 18, 2015, (2) whose Eligible Vehicle was totaled, and (3) who consequently
transferred title of his, her, or its vehicle to an insurance company after September 18, 2015, but
before June 28, 2016.
So if you had transferred title prior to 6/28 then you'd be a "seller" and would receive 50% of the "oops" money or about $2500.
11. Can I receive benefits if my car was totaled after September 18, 2015?
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.
So if you hand over the car to the insurance now you are out of the settlement completely. At least that's what it currently says. I'm definitely not a lawyer but it seems pretty clear. You either total it and let the insurance company take it or you total it and pay the salvage value to keep it and then get it running asap.
tjsadler
Veteran Member
Yeah I think to be safe you'd have to keep it for the salvage cost and fix whatever was needed to get it running. I'm lucky because the engine itself wasn't damaged at all. Just the bumper/hood/quarter panel/airbags/radiator. If this whole scandal hadn't ruined the values I doubt they'd be totaling it at all. If the engine was seriously damaged I think you might be up a creek. Hopefully your wife is ok. My son was driving mine and thankfully is ok and the Takata airbag didn't kill him either. I have so far refrained from hurting him myself. It is what it is. I've been feeling distinctly like the bug for the past week. If I can salvage it and still sell it back to VW then I'll be back to being the windshield and will be very happy!
It is what it is. I've been feeling distinctly like the bug for the past week. If I can salvage it and still sell it back to VW then I'll be back to being the windshield and will be very happy!dzajano
Active member
- Joined
- Mar 13, 1999
- Location
- Phoenix, MD, USA
My understanding is that the offer will be based on a fixed sum of $2986.73 plus 20% of the NADA clear trade value as of mid Sept 2015 with a minimum payout of $5100 for your vehicle. That amount goes to you if you let VW do the "fix" when/if they come up with one. It is called the owner restitution payment. OR you can sell your vehicle back to VW for the Sept 2015 NADA blue plus the amount above. But to sell the ehicle back to VW you'd still need to own it. The trade in price is also adjusted for mileage and OEM options. There does not appear to be any mention of the vehicle's condition or roadworthiness. Expect more trade in pricing at the end of July. I don't what the best course of action is for you, but I would strongly consider taking the insurance company payout for the totaled vehicle, less the salvage value. That way you keep the title, and get all of the money VW offers when you sell it back to them in Oct/Nov. If you sell the car you only get 1/2 of the owner restitution, and the second owner (insurance co.) would get the other half - probably something in the vicinity of $2800 which is way yay more than the salvage value. I say pay the insurer the salvage, keep the car, sell it to VW.