Author Topic: Volkswagen TDI Settlement Options - Anybody else waiting?  (Read 2972 times)

SpreadsheetMonkey

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Volkswagen TDI Settlement Options - Anybody else waiting?
« on: September 07, 2016, 07:28:53 PM »
I own a 2013 VW TDI sportwagen. I bought it about 2 weeks before the scandal hit.  I've checked, and we are included in the recall/settlement.  I won't go in to the details of the settlement for those who haven't been following, but google has many good descriptions.  For those who are also affected, please weigh in on my logic:

Let me start by admitting I am not enormously upset about the NO emissions.  There, I said it.  I live in a low smog area.  Given the choice between the CO2 emissions getting 50mpg and somewhat elevated NO emissions, I think it's close to a wash than the outraged media is portraying.  I can't find any good comparison of those two emission standards.  Feel free to lambast me for that, I'm just clearing up what my motivations are here.

According to the settlement description I received, I have to file a claim by September 1, 2018.  That's almost 2 years from now.  The amount I would get for a buyback will be dependent on the car mileage on that date.  The "we messed up money" doesn't change whether I enter the buyback ASAP or wait until 2018.  Under this scenario, why on earth would I submit my decision any time before August of 2018?  It's like having an option on the car.  I drive it for two years, without caring about depreciation (other than the mileage adjustment, which is pretty generous).  If something major goes out (transmission, clutch, engine block), I do the cheapest possible fix to get it to roll in to a dealer, and I still get my full payout.  Its almost like having a warranty on the thing.  Is there a reason to cash in early, given that my price doesn't really change between now and then? 

Am I missing something here?


ZiziPB

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Re: Volkswagen TDI Settlement Options - Anybody else waiting?
« Reply #1 on: September 07, 2016, 08:25:04 PM »
I'm waiting a bit but not till 2018. The biggest risk is totaling the car as the insurance payout is not going to be as high as the buyout amount.

scantee

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Re: Volkswagen TDI Settlement Options - Anybody else waiting?
« Reply #2 on: September 07, 2016, 09:23:51 PM »
I have a 2014 Jetta Sportwagen. Last summer, I decided we didn't need that nice of a vehicle as a second car and that we should sell it and buy something much cheaper. I it took it to Carmax for a quote, but they didn't offer me as much as I thought it was worth so I decided to hold on to it and sell it private party.

Exactly one week later the diesel scandal happened. So I've been sitting with this car I don't need or want for a year. So no, I won't be keeping it, rather, I can't get rid of it soon enough. I filed a claim on the court settlement site the first day it was available and I will execute the buyback as soon as possible.

In the end, it worked out in my financial favor because I'm getting about $10k more than I would have had I sold it last fall. I keep telling myself the hassle of this all will eventually be worth it!
« Last Edit: September 07, 2016, 09:25:52 PM by scantee »

StashthatCash

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Re: Volkswagen TDI Settlement Options - Anybody else waiting?
« Reply #3 on: September 08, 2016, 08:48:29 AM »
I have one as well, however I have a loan on the vehicle.  For that reason I am going to be turning in my car ASAP so I can get out of the car loan and have a more reasonable car with no payments.  I think that is the best option if you have a loan but I could be wrong. 

Jack

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Re: Volkswagen TDI Settlement Options - Anybody else waiting?
« Reply #4 on: September 08, 2016, 09:03:28 AM »
Let me start by admitting I am not enormously upset about the NO emissions.  There, I said it.  I live in a low smog area.  Given the choice between the CO2 emissions getting 50mpg and somewhat elevated NO emissions, I think it's close to a wash than the outraged media is portraying.  I can't find any good comparison of those two emission standards.  Feel free to lambast me for that, I'm just clearing up what my motivations are here.

No, you're right. EPA emissions laws are draconian and biased against Diesels to begin with, plus if you live in an area that is a VOC-sensitive regime then extra output of NOx won't actually create additional smog anyway.



By the way, anybody know what VW will be doing with all the cars that get bought back? Destroying them would be worse for the environment than reselling them...

coffeehound

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Re: Volkswagen TDI Settlement Options - Anybody else waiting?
« Reply #5 on: September 08, 2016, 07:51:19 PM »
I'm not waiting one.single.minute. My 'tentative return date' is November 1, 2016.  Cannot wait.  I love my 2013 Golf, but:

1. I don't like being lied to.
2. I don't like companies that don't play by the rules, regardless of whether anyone thinks the rules are unfair.
3. I live in L.A. Smog is an issue - and what NO does to the ozone layer, regardless of local smog issues, is cause for concern for me - I get sunburned really quickly.

The risks of waiting, for me, anyway, are: car accidents resulting in car being totaled or undriveable, excess mileage resulting in a lower payout, and, least likely, but certainly possible, those lying assholes at VW America declaring bankruptcy/running out of cash in their payout fund/some other bullshit reason for not paying.

That last scenario sounds unlikely, I know - but who would have thought that a global company would commit fraud on this level, and get away with it, for so many years?



LazyBones

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Re: Volkswagen TDI Settlement Options - Anybody else waiting?
« Reply #6 on: September 12, 2016, 10:49:57 AM »
I own a Jetta TDI, and since mine has long been paid off, there really is no reason to trade it in right away for the buy-out option.

Just like you mention, you're pretty much able to drive the car for an additional 2 years depreciation free.

I bought my car for a reason - mileage and towing.
On a recent trip, I drove for 5 hours, averaging 50 mpg.
When I tow anything (up to 3,500 lbs), I usually get somewhere between 21 and 23 mpg.  I could probably get a little more if I went with a different trailer.

There is no other car out on the market that even comes close to being able to do both of these things in one package as well as the TDI does.

I'm not looking forward to making the decision, but at least I have 2 years to figure it out.

Bracken_Joy

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Re: Volkswagen TDI Settlement Options - Anybody else waiting?
« Reply #7 on: September 12, 2016, 11:12:23 AM »
Posting to follow. We're undecided on what we're going to do.

brian313313

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Re: Volkswagen TDI Settlement Options - Anybody else waiting?
« Reply #8 on: September 14, 2016, 10:27:14 AM »
We have one as well, a Jetta TDI Sportwagen. We were planning on selling it because we really don't need two vehicles which we now have.

The settlement states that VW has a maximum outlay of cash. One risk of keeping it until the end is that if money runs out, the buyback program ends. I haven't done the math but I assume if everyone did the buyback there wouldn't be enough. The are probably assuming that some of the vehicles will not make it back.

TwinMom

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Re: Volkswagen TDI Settlement Options - Anybody else waiting?
« Reply #9 on: September 14, 2016, 10:55:49 AM »
Not the OP, but I am hoping someone can help me think through my options.  Family of four.  We have a 2014 Jetta TDI that we financed (yes, pre-MMM, but at least at 0.9%), and we have about $8K left to pay.  I use the car for daily commuting, about 16 miles to downtown DC (for various reasons, this is not something we can change).  Mileage, safety, and reliability are my biggest concerns.

We plan to take the buyback immediately and get something cheaper.  We will get $25,216 in the settlement, so that's about $17,216 left after paying off the car loan.  Options for a replacement include a CPO Prius Plug-In, which I have found with about 20,000 miles for as little as $16,680, or a new gas-powered Jetta, which I have found for about $13,000 and includes two years of "free" service.  There also may be additional VW loyalty incentives.  An older, cheaper, high mileage car won't work as I am concerned about reliability, plus we are totally incapable of doing repairs ourselves.  A Honda Fit is not an option given the size and safety ratings.

Our other car is a 2009 VW Routan, paid in full and with low mileage.  But it's a VW, and given the age I fear that expensive repairs are right around the corner.  The driver's side door handle has already broken, and we were quoted more than $1000 to repair (we're using duct tape for the time being).  I suspect we will need to replace this car in the next two years to get something much more fuel efficient.

Mustachians, WWYD?

ShoulderThingThatGoesUp

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Re: Volkswagen TDI Settlement Options - Anybody else waiting?
« Reply #10 on: September 14, 2016, 11:02:25 AM »
Not the OP, but I am hoping someone can help me think through my options.  Family of four.  We have a 2014 Jetta TDI that we financed (yes, pre-MMM, but at least at 0.9%), and we have about $8K left to pay.  I use the car for daily commuting, about 16 miles to downtown DC (for various reasons, this is not something we can change).  Mileage, safety, and reliability are my biggest concerns.

We plan to take the buyback immediately and get something cheaper.  We will get $25,216 in the settlement, so that's about $17,216 left after paying off the car loan.  Options for a replacement include a CPO Prius Plug-In, which I have found with about 20,000 miles for as little as $16,680, or a new gas-powered Jetta, which I have found for about $13,000 and includes two years of "free" service.  There also may be additional VW loyalty incentives.  An older, cheaper, high mileage car won't work as I am concerned about reliability, plus we are totally incapable of doing repairs ourselves.  A Honda Fit is not an option given the size and safety ratings.

Our other car is a 2009 VW Routan, paid in full and with low mileage.  But it's a VW, and given the age I fear that expensive repairs are right around the corner.  The driver's side door handle has already broken, and we were quoted more than $1000 to repair (we're using duct tape for the time being).  I suspect we will need to replace this car in the next two years to get something much more fuel efficient.

Mustachians, WWYD?

There are way, way better plug-ins than the Plug-In Prius, but given your commute that's the kind of thing I'd go for. Used all-electric vehicles are incredibly cheap and if you also have a gas car you can just use that one when you go out of town.