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Jetta TDI VW

How much of Volkswagen'south $10 billion sad-about-your-diesel payout will y'all see if you own 1 of the one-half-million polluting VW (also Audi and Porsche) cars? You're probable to go $5,100 to $x,000, forth with the option to have your automobile fixed, bought back, or have the lease cancelled.

This is for the 485,000 four-cylinder diesel cars sold 2009-2015. Plans are still beingness worked out for a smaller number of six-cylinder diesels. The $x billion payout is virtually 2-thirds of the total $14.7 billion settlement. The rest represents fines paid and environmental good works. In other words, others are taking a 1-tertiary cutting, most the aforementioned as in near lawsuits where you're the only plaintiff.

Badgerer factor aside, you're a winner

As we predicted last autumn, anyone who owns a VW diesel may detect VW's settlement turns out to be a good deal. (And in the cursory golden period earlier sales were halted, you could become a good bargain buying a distressed-pricing diesel fuel VW.)

No thing whether you bought or leased, or disposed of your VW, in the wake of dieselgate, the settlement is likely to make yous coin. Basically, VW is in such a bad and indefensible position — tweaking the cars so they used full emissions controls only when being tested, then not coming make clean once dieselgate bankrupt — it only costs Volkswagen marginally more than to pay out more coin than the losses you suffered from the reduced value of the car.

LA Auto Show 2008

What yous'll go from VW

Co-ordinate to a VW release issued Tuesday (June 28), Volkswagen will fix a funding puddle of upward to $10.033 billion. If you the bones math, $x billion divided past 460,0o00 VWs plus 15,000 Audis, it works out to virtually $21,000 per car that VW has prepare aside. That includes the costs for repairs and buybacks; it isn't all buyer cash back. The settlement includes a $ii.7 billion payment to the government as compensation for environmental damage and $2 billion that VW volition spend on clean-vehicle projects.

Owners tin choose to sell back their cars to VW, at a slight premium. They can immediately terminate their leases without penalty. Or they can have their cars repaired if they're repairable. Whichever manner, owners volition get a cash payout, likewise.

Information technology's believed that the earliest TDI (diesel) cars can't exist fixed at reasonable toll. VW will likely purchase them back. These and so-called Gen 1 cars represent some 325,000 cars. They're the ones that don't have urea injection (using AdBlue or diesel exhaust fluid) and selective catalytic reduction (SCR) technology to cleanse the diesel exhaust. For these cars, owners may not have an option to get them repaired every bit a result.

If VW does buy back your car, the buyback would exist based on the NADA volume value of the car as of September 2022, the concluding month before VW diesel prices tanked. The bodily amount would take into account miles driven and the options / trim levels.

If you sold your VW diesel since September, the company will carve up the payout betwixt the current and onetime owner.

Newer VWs with SCR are the ones more likely to be repairable. Owners become the choice of having the car repaired or having VW buy back the machine. Whatever way yous go, y'all will get a cash payment. It appears you'll get at least $5,100, and in a buyback scenario, you'll also get the last good price (fall 2022), not the current value.

This is only for the US. VW has most 8.5 1000000 diesel cars in the rest of the globe that may have like compliance bug.

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The 475,000 afflicted cars

These are the cars covered by this week'southward settlement annunciation. They're all iv-cylinder diesel-engine vehicles:

  • VW logoVolkswagen Beetle, Beetle Convertible 2022-2015
  • Volkswagen Golf game ii-Door 2022-2013, Golf 4-Door 2022-2015, Golf SportWagen 2022
  • Volkswagen Jetta 2009-2015, Jetta SportWagen 2009-2014
  • Volkswagen Passat 2022-2015
  • Audi A3 2022-2013, 2022

To run across the specifics of your auto, grab the VIN number off your registration or the dashboard in front of the steering wheel and enter information technology in the VW/Audi Diesel Emissions Settlement Programme page.

There are besides near 75,000 more VW, Audi, and Porsche 3.0-liter 6-cylinder diesels. A separate settlement is being worked out for these cars and their owners. There is too a split programme to compensate VW dealers for the several yard diesel fuel cars on their lots that they can't sell; VW and so far is not making public the details.

If you lot ain a gasoline-engine VW or Audi from the same 2022-2015 era and fright its value has been reduced through guilt-by-association, y'all aren't covered. Sorry. In many cases, your auto is worth less than a comparable diesel. A 2022 VW Passat SE sedan with 45,000 miles is worth roughly $12,500 now, while Passat SE TDI diesel is worth about $1,000 more, but the diesel fuel besides cost more to purchase new and has declined more (percentage) in value.

No need to blitz

So far VW hasn't set a date past which you have to choose your course of action, so if you're not certain most what to do, you should feel better knowing the but reduction in value if you wait will be from the extra miles you've driven.

Look and ponder might not be the case were your land to decline to register offending VW diesels. But equally VW says on a VW diesel info folio, "We don't conceptualize that customers volition accept problems with state registration or inspection." Considering, in role, the one time all VW diesels do well on emissions is when they're being tested.