Settlement Approved: The Volkswagen Diesel Emissions Scandal
Last month, a settlement between Volkswagen and the hundreds of thousands of vehicle owners of high emissions diesel cars was approved by a federal judge. Volkswagen has admitted to their error, and they are prepared to spend up to $10 billion dollars to fix and compensate owners or buy back the cars. Within the American auto industry, this has become the largest class-action settlement ever.
Are you one one of those owners? Here’s what you need to know about getting compensated:
- Eligibility: All 475,000 Volkswagen models going back to 2009 with 2-liter diesel engines are eligible. In this US, this includes Jetta models between 2009-2015, Golf models from 2010-2015, Beetle and Passat models between 2012-2015, as well as Audi A3 models between 2009-2015. There are almost 100,000 other cars with a 3-liter diesel engine (also with the cheating software installed) that are not included in this settlement.
- Options: VW is offering two options. They will fix your car, or they will buy your car back, REGARDLESS OF IT’S CONDITION. Although the proposed fix has not yet been determined, they will pay you between five thousand and ten thousand dollars depending on the age of the car and whether or not you owned it prior to September 2015. OWNERS HAVE UNTIL SEPTEMBER OF 2018 TO MAKE A DECISION SO NO RUSH!
- What’s the Best Option: This depends on your personal priorities. If you are concerned with the environment, then sell back your car immediately. If you are coming from a financial standpoint, then you are better off waiting. Since you have almost 2 years (September 2018) to make your decision/take the buy back, you can still drive your car for the next 22 months and then take the buy back. PLEASE NOTE: If you wait to take the buy back in two years, you must not drive more than 12.5 thousand miles per year, or the excess miles will make the buy back price go down.
- Other Things to Note: If you don’t prioritize the environment, then you can just continue to drive your car, but you will likely violate the Clean Air Act eventually. There are other diesel cars, but they won’t perform like your VW for the same price. Chevy is working on a low cost diesel car, but it won’t be available until next year; and, if performance is a priority then BMW is the best option, but you need at least 40k to get into a new Beemer.
Some VW dealerships are offering big specials for returning customers in an effort to retain any loyalty that they might still keep from their customer base. They are also offering great specials for new buyers. Check with your local dealership to learn more about buying new; and, to learn more about the settlement, please see this link: https://www.vwcourtsettlement.com.
Looking for a shop in Salt Lake City, Utah to service your Volkswagen (or any of your European made automobiles)? Alex’s Autohaus would be glad to help!