VW TDI Settlement - buying a TDI now

breld

Quick search on craigslist:

2014 Jetta

A hail damaged vehicle seems like a great candidate for buyback. Asking $14,900, buyback at about $21k (considering 50% restitution).

2013 Passat

Nice car with sun and nav. Buyback is also about $21k. They've had this one awhile - I think it came up when I was looking last month.

I'd be more tempted if not for the new house and, well, still owning the old house.

xwesx

I'm trying to convince my wife to get another one, but I think I reached her tolerance limit.

stickguy

I like that red Passat.

breld

My wife is encouraging me to buy another one. We had the cash for the first one - not sure if I want to finance a second one, though it's tempting given the relatively short turnaround.

That Passat is at a dealer affiliated with a VW dealer - doubt that would mean anything, but it's in the back of my mind.

stickguy

Run the vin first

kyfdx

So, if you got the email today, the link to the summary has cleared some things up for those of us who bought our cars after 09/18/2015.

1) Doesn't matter when it was purchased after 09/18/15. None of the interim dates have any effect on the current owner.

2) We get half of the owner restitution amount. That amount is not affected one way or the other, by a claim by the previous owner (eligible seller) of your particular vehicle.

3) After that claim period for eligible sellers, the money left in the eligible seller pool will be distributed to the group who is only eligible for half-restitution (that's us), on a pro-rated basis.

Example: The total eligible seller amount, if fully claimed is $100 MM. Eligible sellers only put in for $70 MM of claims. The other $30 MM is distributed to the post 09/18/15 acquirers on a prorated basis. So, if your modification amount was $7000, and you are eligible for half of that, then you would also receive 30% of the other half (or $1050 more). (all numbers for example only, and pulled out of my a--).

It's the clearest language that I've seen.

xwesx

kyfdx said:

So, if you got the email today, the link to the summary has cleared some things up for those of us who bought our cars after 09/18/2015.

1) Doesn't matter when it was purchased after 09/18/15. None of the interim dates have any effect on the current owner.

2) We get half of the owner restitution amount. That amount is not affected one way or the other, by a claim by the previous owner (eligible seller) of your particular vehicle.

3) After that claim period for eligible sellers, the money left in the eligible seller pool will be distributed to the group who is only eligible for half-restitution (that's us), on a pro-rated basis.

Example: The total eligible seller amount, if fully claimed is $100 MM. Eligible sellers only put in for $70 MM of claims. The other $30 MM is distributed to the post 09/18/15 acquirers on a prorated basis. So, if your modification amount was $7000, and you are eligible for half of that, then you would also receive 30% of the other half (or $1050 more). (all numbers for example only, and pulled out of my a--).

It's the clearest language that I've seen.

Indeed, and it's encouraging, as it means that we will get some level of additional restitution; we don't know how much, but the pre-9/18 claims crowd will not be 100%. And, given the fairly small window, it may be significantly under 100%.

kyfdx

And, for those worried about totaling their vehicle before the buyback:

Once the opt-out provision for the class action has ended on September 16th, and you have a total loss after that date. The payoff is between you and your insurance company, but the 50% restitution can still be claimed.

So, in another five weeks, we can drive the cars without worrying about blowing the whole buyback. Also, I don't think you have to worry about the car suffering a catastrophic failure, as long as you can show it ran under it's own power on June 28th, 2016.

28firefighter

Thanks for that @kyfdx! I'm not finishing the registration for my A3 until I get it on Saturday.

Getting really excited and thrilled to see that. I've seen a lot of confusing comments on "other boards" and it seems to be mostly from people who are just making assumptions and not actually reading anything.

stever

xwesx said:

I'm trying to convince my wife to get another one, but I think I reached her tolerance limit.

Frankly I was surprised she agreed to the one deal.

henryn

Well, I don't have to get anyone's approval, and I'm wishing I had done a second one while it was possible. You snooze, you lose.

corvette

I'm dipping my toes in the water. Requested that an eligible car be transferred to a local dealer. The expected payoff is a lot less than some of you guys have gotten (I'm looking at about $3k profit with half the restitution), but I'm willing to accept less profit in exchange for not burning a vacation day, not having to get a ride to another city, etc.

(As an aside, it would be difficult to burn a vacation day right now--I told a coworker today that we are going to implode if we don't get some of our vacancies filled.)

xwesx

corvette said:

I'm dipping my toes in the water. Requested that an eligible car be transferred to a local dealer. The expected payoff is a lot less than some of you guys have gotten (I'm looking at about $3k profit with half the restitution), but I'm willing to accept less profit in exchange for not burning a vacation day, not having to get a ride to another city, etc.

(As an aside, it would be difficult to burn a vacation day right now--I told a coworker today that we are going to implode if we don't get some of our vacancies filled.)

I know how that goes, corvette! But, my employer would literally work me to death if I let them, so I don't feel guilty about time off. If we don't have enough people to get the work done when I'm gone, that that is THEIR problem, not mine.

corvette

Same here, and I agree, but we are short at least a couple of people and have had a bunch of new work come in over the past few weeks. Also, our job posting is not very well advertised, which I've complained about. That said, it's amazing how much work you can get done when the phones shut off at the end of the day, it's eerily quiet, and there's nobody (or not many people) left in the office!

kyfdx

Anyone in Phoenix? Buyback of $24K, asking $18,500

http://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?endYear=2014&zip=45202&maxPrice=24000&showcaseListingId=0&mmt=[AUDI[][]]&fuelTypeGroup=DSL&sortBy=distanceDESC&startYear=2009&makeCode1=AUDI&showcaseOwnerId=0&firstRecord=25&searchRadius=0&minPrice=6000&listingId=432478668&Log=0

xwesx

I can be in Phoenix! That's on my way home!

stickguy

tow one with the other?

nyccarguy

stickguy said:

tow one with the other?

It is a diesel after all. Good for towing!

jpp75

Got a call yesterday that the SportWagen I posted sold. It was about 3 1/2 hours away so I couldn't get there before tomorrow to look at it anyway.

Still trying to get some info on the Jetta that's closer, I've done the online request twice and haven't gotten anything from them. I hate car dealers.

henryn

I got a phone call this morning from a dealer that I called, twice, about 3 weeks ago. Interesting that they returned my phone call after a lapse of 3 weeks. Turns out it's a salvage title, and dramatically overpriced for such. And not eligible for buyback anyway, so ..

I spotted a 2010 Jetta Sportwagen TDI on Craigslist, called, they sold it on Saturday the same day they posted the ad.

The supply of used TDIs is definitely evaporating, at least in this part of the world.

henryn

No wonder the deals are evaporating, the FTC is getting into the fray, telling people to not sell their TDIs.

https://www.consumer.ftc.gov/blog/vw-owners-get-facts

It’s particularly important for you to get this information if you’re considering selling your car. Potential buyers may offer what sounds like a good deal, but it’s still less than you can get for a buyback under the FTC’s settlement with VW. Whether it’s a private purchaser or an unscrupulous dealer, those buyers are just going to turn around and sell the car back to VW for more money through the court-approved buyback program.

The FTC is trying to make us sound like dirty, thieving capitalistic running dog pigs.

qbrozen

i see plenty around me.

28firefighter

henryn said:

The FTC is trying to make us sound like dirty, thieving capitalistic running dog pigs.

I can live with that.

That said I could not buy from a private purchaser in good conscience.

Michaell

28firefighter said:

henryn said:

The FTC is trying to make us sound like dirty, thieving capitalistic running dog pigs.

I can live with that.

That said I could not buy from a private purchaser in good conscience.

Boy, you'd make a lousy capitalist ... you've got a conscience.

But, I get your point.

TDI's at non-VW dealers are fair game. Wonder how long before they wise up and raise asking prices?

andres3

Anyone double dip on the TDI flip game yet? I'd feel like I was if I bought another one since my wife already has one from before the scandal started.

henryn

I'm trying to (double dip). But I can't find a second one around here, and I'm not going to travel thousands of miles to do it (like some here!)

kyfdx

Same here.. I was one day too late on the Jetta wagon with stickshift. That might have been a keeper for my son.

qbrozen

I would but my wife is about $9k upside down on her van, so I'd need to find another incredible deal like I did on the first, and that is extremely unlikely.

henryn

I just got a voice mail message. The dealer who returned my call this morning, after a 3 week lapse, passed my number on to the actual owner of the 2013 Passat with the salvage title. The dealer was / is trying to sell the car on consignment for someone he knows. 2013 Passat TDI SEL Premium, 18k miles, wrecked (passenger side), air bags deployed. Totaled. Supposedly completely restored. The dealer was listing at $19,995 (would be great if not salvage). He quickly dropped to $18,500. I responded that it couldn't be worth more than $15k with that salvage title, and let it drop.

Now the actual owner has called me and left a voice mail message. And is apparently interested in the $15k. Which I wasn't exactly offering, I was just giving an opinion on the diminished value. Still and all, a very nice car, and only 18k miles...

@qbrozen, what's your opinion of the value?

http://houston.craigslist.org/ctd/5699908894.html

2013 Passat TDI SEL Premium
black
Houston
18k miles
salvage title

xwesx

qbrozen said:

i see plenty around me.

Thanks for the vote of confidence, Q!

Wait, were you talking about available cars or "thieving capitalistic running dog pigs?"

xwesx

henryn said:

I just got a voice mail message. The dealer who returned my call this morning, after a 3 week lapse, passed my number on to the actual owner of the 2013 Passat with the salvage title. The dealer was / is trying to sell the car on consignment for someone he knows. 2013 Passat TDI SEL Premium, 18k miles, wrecked (passenger side), air bags deployed. Totaled. Supposedly completely restored. The dealer was listing at $19,995 (would be great if not salvage). He quickly dropped to $18,500. I responded that it couldn't be worth more than $15k with that salvage title, and let it drop.

Now the actual owner has called me and left a voice mail message. And is apparently interested in the $15k. Which I wasn't exactly offering, I was just giving an opinion on the diminished value. Still and all, a very nice car, and only 18k miles...

@qbrozen, what's your opinion of the value?

http://houston.craigslist.org/ctd/5699908894.html

2013 Passat TDI SEL Premium
black
Houston
18k miles
salvage title

If the timing of the damage and re-purchase checks out, (e.g., both before 9/18/15), I would go for it at that price. Register the buyback as early as possible and, if it falls through, push your other car through the buyback and just keep this one. You'll get your money back (e.g., the profit off the other car) when you sell this one if you decide not to keep it.

corvette

I just paid to have CarMax ship me this from Phoenix, should take about 28 days to get here:


Should clear $3k after sales tax and shipping cost. Not the same level of profit some of you guys are expecting, but much easier than spending a day or more driving one back from somewhere, airfare, etc.

It's a 2013 with nav, DSG, and pano roof. This may be the twin of Breld's car?

xwesx

Beautiful car, corvette. Congrats!

corvette

Thanks! Doubt I will drive it much before taking the buyback, but I appreciate the sentiment.

Weirdly, Carmax has this car's twin in Nashville, with the same miles, which would have been cheaper to ship, but it's $2,000 more to buy!

qbrozen

henryn said:

I just got a voice mail message. The dealer who returned my call this morning, after a 3 week lapse, passed my number on to the actual owner of the 2013 Passat with the salvage title. The dealer was / is trying to sell the car on consignment for someone he knows. 2013 Passat TDI SEL Premium, 18k miles, wrecked (passenger side), air bags deployed. Totaled. Supposedly completely restored. The dealer was listing at $19,995 (would be great if not salvage). He quickly dropped to $18,500. I responded that it couldn't be worth more than $15k with that salvage title, and let it drop. Now the actual owner has called me and left a voice mail message. And is apparently interested in the $15k. Which I wasn't exactly offering, I was just giving an opinion on the diminished value. Still and all, a very nice car, and only 18k miles... @qbrozen, what's your opinion of the value? http://houston.craigslist.org/ctd/5699908894.html 2013 Passat TDI SEL Premium black Houston 18k miles salvage title

I'd say $10k, honestly. But, if it actually qualifies, does it matter? 

qbrozen

xwesx said:

i see plenty around me.

Thanks for the vote of confidence, Q! Wait, were you talking about available cars or "thieving capitalistic running dog pigs?"

Now that you mention it, I guess both.

corvette

If it has a rebuilt title, I'd just assume it doesn't qualify for buyback, and offer accordingly. If it qualifies, that's a very nice bonus.

Remember when it initially looked like--based on the settlement documents--that someone who bought today would get the full restitution amount?

nyccarguy

What do you guys think of this 2013 A3 TDI?
61,163 Miles
$17,798 plus tax, tag, & fees (I think MD has doc fees)
Buyback with 1/2 restitution = $25,061

http://m.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId=427153772&zip=06902&endYear=2017&pageLayout=list&fuelTypeGroup=DSL&sortBy=distanceASC&startYear=1981&listingTypes=used&searchRadius=500&mmt=[AUDI[A3[]][]]

henryn

Hmmm.... CarMax.... I haven't looked there.

Not much. Really not much at all.

https://www.carmax.com/cars/volkswagen/golf/2012/13489640

2012 Jetta 4dr sedan TDI, manual, 85k, no optional extras, $14,998 + $449 transfer fee , so $15,447 plus TT&L.

Buyback with 1/2 of the modification is only $14,281. I think @corvette just got the only deal to be had from CarMax.

And on that salvage title Passat, I really don't think that it's eligible for the buyback, so no go there.

corvette

I get $17,361 on the buyback (it's a 4-door Golf with nav and a sunroof, not a Jetta). Still not a great deal. They had a fully loaded Beetle coupe a few weeks ago that was a decent deal. Their inventory tends to move pretty quickly.

28firefighter

nyccarguy said:

What do you guys think of this 2013 A3 TDI? 61,163 Miles $17,798 plus tax, tag, & fees (I think MD has doc fees) Buyback with 1/2 restitution = $25,061 http://m.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId=427153772&zip=06902&endYear=2017&pageLayout=list&fuelTypeGroup=DSL&sortBy=distanceASC&startYear=1981&listingTypes=used&searchRadius=500&mmt=[AUDI[A3[]][]]

I would have them confirm that it's not a salvage or anything else. I called them about it, asked that question in the message I left and never heard back. 

nyccarguy

28firefighter said:

nyccarguy said:

What do you guys think of this 2013 A3 TDI?
61,163 Miles
$17,798 plus tax, tag, & fees (I think MD has doc fees)
Buyback with 1/2 restitution = $25,061

http://m.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId=427153772&zip=06902&endYear=2017&pageLayout=list&fuelTypeGroup=DSL&sortBy=distanceASC&startYear=1981&listingTypes=used&searchRadius=500&mmt=[AUDI[A3[]][]]

I would have them confirm that it's not a salvage or anything else. I called them about

@28firefighter - you saw this while you were looking?

corvette

Fitzmall in MD has a few TDIs, but they are a VW dealer. Might some of those cars be eligible depending upon when they had them in inventory?

28firefighter

nyccarguy said:

nyccarguy said:

What do you guys think of this 2013 A3 TDI? 61,163 Miles $17,798 plus tax, tag, & fees (I think MD has doc fees) Buyback with 1/2 restitution = $25,061 http://m.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId=427153772&zip=06902&endYear=2017&pageLayout=list&fuelTypeGroup=DSL&sortBy=distanceASC&startYear=1981&listingTypes=used&searchRadius=500&mmt=[AUDI[A3[]][]]

I would have them confirm that it's not a salvage or anything else. I called them about @28firefighter - you saw this while you were looking?

Yes - just found one locally and I never heard back re: the title status. 

nyccarguy

Got it! Thank-you! I'll tread lightly.

breld

corvette said:

I just paid to have CarMax ship me this from Phoenix, should take about 28 days to get here:


Should clear $3k after sales tax and shipping cost. Not the same level of profit some of you guys are expecting, but much easier than spending a day or more driving one back from somewhere, airfare, etc.

It's a 2013 with nav, DSG, and pano roof. This may be the twin of Breld's car?

Yup - exactly like mine. Nice car!

kyfdx

corvette said:

Thanks! Doubt I will drive it much before taking the buyback, but I appreciate the sentiment.

Weirdly, Carmax has this car's twin in Nashville, with the same miles, which would have been cheaper to ship, but it's $2,000 more to buy!

You say you won't drive it, but the first time you see 42 MPG, it gets under your skin.

qbrozen

nyccarguy said:

What do you guys think of this 2013 A3 TDI?
61,163 Miles
$17,798 plus tax, tag, & fees (I think MD has doc fees)
Buyback with 1/2 restitution = $25,061

http://m.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId=427153772&zip=06902&endYear=2017&pageLayout=list&fuelTypeGroup=DSL&sortBy=distanceASC&startYear=1981&listingTypes=used&searchRadius=500&mmt=[AUDI[A3[]][]]

The autocheck tells me the title is clean. The same car with 62k miles went through auction in Cali in June for $13k.

28firefighter

I would jump on it then...

nyccarguy

I put a call into them. The sales department doesn't open until 10:00 AM (I've been here since 7:10 AM). I called and spoke to someone who was having difficulty looking it up on the computer. He's supposed to call me back. We'll see.

Very slim pickin' out there. I've calculated most of the VWs out there have a $2K - $3K "buyback profit" in them (after taxes). I'll keep looking. My wife is surprisingly on board with this idea as well.