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Jetta TDI VW

How much of Volkswagen's $x billion sorry-most-your-diesel payout will yous encounter if yous own one of the half-meg polluting VW (also Audi and Porsche) cars? You're likely to become $5,100 to $10,000, along with the choice to have your motorcar fixed, bought dorsum, or have the lease cancelled.

This is for the 485,000 four-cylinder diesel cars sold 2009-2015. Plans are still being worked out for a smaller number of vi-cylinder diesels. The $10 billion payout is about two-thirds of the total $14.7 billion settlement. The residual represents fines paid and environmental good works. In other words, others are taking a i-3rd cutting, about the same as in most lawsuits where you're the only plaintiff.

Annoyance gene aside, you're a winner

As we predicted final autumn, anyone who owns a VW diesel may notice VW's settlement turns out to be a adept deal. (And in the brief golden menstruation before sales were halted, y'all could get a practiced deal buying a distressed-pricing diesel VW.)

No affair whether y'all bought or leased, or disposed of your VW, in the wake of dieselgate, the settlement is likely to make you 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 clean one time dieselgate bankrupt — it simply costs Volkswagen marginally more to pay out more money than the losses y'all suffered from the reduced value of the car.

LA Auto Show 2008

What you'll get from VW

According to a VW release issued Tuesday (June 28), Volkswagen will set upward a funding puddle of up to $10.033 billion. If you lot the basic math, $ten billion divided by 460,0o00 VWs plus fifteen,000 Audis, it works out to nigh $21,000 per machine that VW has set aside. That includes the costs for repairs and buybacks; it isn't all heir-apparent cash back. The settlement includes a $2.7 billion payment to the government every bit compensation for environmental damage and $ii billion that VW volition spend on make clean-vehicle projects.

Owners tin choose to sell dorsum their cars to VW, at a slight premium. They tin immediately terminate their leases without penalty. Or they can accept their cars repaired if they're repairable. Whichever fashion, owners will get a cash payout, besides.

It's believed that the primeval TDI (diesel) cars can't exist fixed at reasonable cost. VW will likely buy them back. These so-called Gen ane cars stand for some 325,000 cars. They're the ones that don't have urea injection (using AdBlue or diesel frazzle fluid) and selective catalytic reduction (SCR) engineering to cleanse the diesel exhaust. For these cars, owners may not have an option to go them repaired as a effect.

If VW does buy back your car, the buyback would be based on the NADA book value of the automobile as of September 2015, the last month before VW diesel fuel prices tanked. The bodily corporeality would take into account miles driven and the options / trim levels.

If you lot sold your VW diesel since September, the company volition dissever the payout between the current and former owner.

Newer VWs with SCR are the ones more likely to be repairable. Owners get the option of having the car repaired or having VW purchase back the car. Whatsoever way you go, you will get a greenbacks payment. It appears yous'll go at least $5,100, and in a buyback scenario, y'all'll also become the last practiced price (autumn 2015), not the current value.

This is just for the United states. VW has about 8.five million diesel cars in the rest of the world that may have similar compliance problems.

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The 475,000 affected cars

These are the cars covered by this week's settlement announcement. They're all four-cylinder diesel-engine vehicles:

  • VW logoVolkswagen Protrude, Protrude Convertible 2013-2015
  • Volkswagen Golf 2-Door 2010-2013, Golf game 4-Door 2010-2015, Golf SportWagen 2015
  • Volkswagen Jetta 2009-2015, Jetta SportWagen 2009-2014
  • Volkswagen Passat 2012-2015
  • Audi A3 2010-2013, 2015

To run across the specifics of your car, grab the VIN number off your registration or the dashboard in front of the steering bicycle and enter it in the VW/Audi Diesel Emissions Settlement Program folio.

In that location are besides virtually 75,000 more VW, Audi, and Porsche 3.0-liter half dozen-cylinder diesels. A split up settlement is being worked out for these cars and their owners. There is also a separate program to compensate VW dealers for the several thousand diesel cars on their lots that they tin can't sell; VW then far is not making public the details.

If you ain a gasoline-engine VW or Audi from the same 2010-2015 era and fear its value has been reduced through guilt-past-clan, y'all aren't covered. Pitiful. In many cases, your automobile is worth less than a comparable diesel fuel. A 2013 VW Passat SE sedan with 45,000 miles is worth roughly $12,500 at present, while Passat SE TDI diesel fuel is worth about $1,000 more, but the diesel fuel also cost more to buy new and has declined more (percentage) in value.

No need to rush

So far VW hasn't set a date past which yous take to choose your form of action, so if you're not sure almost what to do, you should experience improve knowing the simply reduction in value if you wait will exist from the extra miles you've driven.

Look and ponder might not exist the case were your state to turn down to register offending VW diesels. Merely as VW says on a VW diesel info page, "We don't anticipate that customers will have issues with state registration or inspection." Considering, in part, the one fourth dimension all VW diesels do well on emissions is when they're being tested.