VW TDI Settlement - buying a TDI now

28firefighter

I made a dummy account with my VIN (system let me) but did not take it any further than seeing the quotes. My buyback is now 33k instead of 29k.

Will see how it goes for mine if and when they ever accept the documents.

kyfdx

28firefighter said:

I made a dummy account with my VIN (system let me) but did not take it any further than seeing the quotes. My buyback is now 33k instead of 29k.

Will see how it goes for mine if and when they ever accept the documents.

Holy cow! Hope that holds up.

28firefighter

Still no acceptance of my documents. Sent emails to Ankura and Class Counsel - no responses yet.

kyfdx

If I get 78% of the modification amount, that's an increase of $1890 over my original 50%.
100% of the modification will be $3376 more (which will make @breld my hero!)

Either of those will be a real windfall, on top of the $6K I was expecting.

28firefighter

Documents accepted this morning!  Now we wait. 

kyfdx

28firefighter said:

Documents accepted this morning!  Now we wait. 

Cool!

henryn

I've been paying pretty close attention over on TDIClub, and I don't really see where any of the late buyers are getting a buyback offer and turn-in date. I kinda sorta get the impression that just maybe VW hasn't really decided how much of the restitution amount we are going to get.

I have seen a number of reports by various people who have done as @28firefighter did (above), go through the registration process all over again to see what numbers they get. The answers range all over the map, from the original 50%, to 78%, to 100%. I guess for now we just wait and keep our fingers crossed.

kyfdx

Yeah.. I've seen 78% and 100%. Didn't see any original 50%.

When you see the new amounts, for those that have dummied up an account, it sure gives you hope.

henryn

forums.tdiclub.com/showthread.php?t=469668

For those wanting to follow along, the above is a link to the thread on TDIClub where it is being discussed. 6 pages long, and growing, with absolutely no consensus as of now.

qbrozen

Several people seem to think post-6/28/16 buyers get 100%. That would be really sweet if it turns out to be true. I'd stand to make over $14k profit.

28firefighter

qbrozen said:

Several people seem to think post-6/28/16 buyers get 100%. That would be really sweet if it turns out to be true. I'd stand to make over $14k profit.

I'd make about $10,000. Can't complain on that at all.

stickguy

I am now curling up in the corner in the fetal position, whimpering to myself.

I should have bought the twin to QBs car when I thought of it. Dang.

Sandman6472

Agree Stick, should've jumped aboard. Explained it to the wife, a CPA, and she got it but said she was glad I didn't do it. But to make a somewhat quick $10K or above, should've just done it as there were plenty models available in the South Florida area! Ya snooze...ya loose!

The Sandman

kyfdx

The big spreads were hard to find. I'm at $6K profit, with a possibility of $9400 (if we get 100%). But, I had to sift through a lot of crap to find that one.

stickguy

I had mine right there. The dealer that QB got his JSW from had an identical twin, down to almost exactly the same miles on it.

28firefighter

stickguy said:

I had mine right there. The dealer that QB got his JSW from had an identical twin, down to almost exactly the same miles on it.

I almost bought that one, too. Wife hadn't come around yet. 

qbrozen

I can't believe someboday on the other forum bought 10. Now that's a gambler!

kyfdx

True... took me three weeks after June 28th to buy mine. By the time I felt comfortable with the risk (another week or two), the good deals were gone. I wasn't going to risk more, for a potential $1K-$2K profit.

xwesx

There wasn't much available to me in Alaska. By the time I was able to get my wife's buy-in and give up on that guy in Wasilla getting his stuff together (that car would have been a great one for ROI!), I was content with just the one. I still would have liked to get another couple of them, but having to buy them all outside would have been a logistical nightmare!

I hope that the Wasilla guy ended up keeping his; he'll make a killing on it.

henryn

The day I bought mine, there were 4 that I looked at. Two Passats, a Golf, and JSW. The Golf was the highest payoff, but I did not fit comfortably (the bolsters on the seat). The JSW was older, higher mileage, and a lower payoff. I bought the Passat with the highest payoff ($4,500), but I should have bought that and the Golf. Hindsight is 20/20.

When you guys are computing your ROI, you are including the bottom line to purchase, right? I negotiated a deal for $14,500 OTD, and my payoff at 50% restitution is a little over $19,000, so $4,500 profit. If I get 100% restitution, that goes up by nearly $3,100.

kyfdx

henryn said:

The day I bought mine, there were 4 that I looked at. Two Passats, a Golf, and JSW. The Golf was the highest payoff, but I did not fit comfortably (the bolsters on the seat). The JSW was older, higher mileage, and a lower payoff. I bought the Passat with the highest payoff ($4,500), but I should have bought that and the Golf. Hindsight is 20/20.

When you guys are computing your ROI, you are including the bottom line to purchase, right? I negotiated a deal for $14,500 OTD, and my payoff at 50% restitution is a little over $19,000, so $4,500 profit. If I get 100% restitution, that goes up by nearly $3,100.

I'm at $16,200 OTD, including my $110 repair the first week.
Payout is $22,200 at 50% restitution. Almost exactly $6K.
At 100%, that goes up by $3376, for a total profit of $9376 max. (come on baby!!)

28firefighter

I'm at 23k OTD. At 50% I'm at 29,7 and at 100% I'm at 33,2. 

qbrozen

My bottom line isn't really like others since I traded my car on it, which negated the taxes. With doc fees and DMV, I'm in it something like $16,450. Buyout was roughly $27,500. Not sure what it will be if the restitution goes up. No matter what, I'm quite happy with the outcome as long as I get the check.

xwesx

Since mine was an added car to the fleet, I'm looking at TCO, except for fuel used outside of the drive home (since I would use it on any vehicle driven).

kyfdx

I didn't add my insurance costs in ($55/mo. for the extra car). I've driven it 2000 miles in 4 months, so I've probably saved enough in fuel and wear and tear on my other car to make that a wash.

qbrozen

I do lose the tax benefit when I buy the next vehicle without a trade-in. So I could take that out of my "profits." But, really, does it matter? Coming out ahead is coming out ahead.

henryn

This Passat TDI is my daily driver, so I have not counted insurance, fuel, one oil change, car washes... All those things are normal overhead for any car. And yes, it does bother me that I won't get the tax benefit. But I'm counting the taxes I paid when I bought this as deducted from my profit, so it all comes out okay. I think @qbrozen is the only one of us who traded in a vehicle and thus is losing trade in tax benefits.

stickguy

well, he would have lost them if he didn't trade in the caddy eventually, but I assume he would have.

qbrozen

I guess on the positive side, I keep paying down my note, which means a bigger check on the back end.

Per the other forum, there are folks who still haven't even had their docs accepted, and the lawyers apparently don't care. They are now telling people to just be patient and that VW is backlogged. Oh boy.

kyfdx

Yeah... you can't hire 1000 people to work for one month, then lay off 900 of them. Regardless of the settlement, actual logistics come into play.

What worries me more, is that once I've got an offer, the earliest date to turn in will be February (or later). Another disadvantage of Audi vs. VW is only two local dealerships.

corvette

Only one local Audi dealer here in Louisville. And three VW dealers, but I'd give all of them coal in their stockings even if Dieselgate had never happened. 

qbrozen

kyfdx said:

Yeah... you can't hire 1000 people to work for one month, then lay off 900 of them. Regardless of the settlement, actual logistics come into play. What worries me more, is that once I've got an offer, the earliest date to turn in will be February (or later). Another disadvantage of Audi vs. VW is only two local dealerships.

They are temps. Comes with the territory.

henryn

qbrozen said:

I guess on the positive side, I keep paying down my note, which means a bigger check on the back end.

Per the other forum, there are folks who still haven't even had their docs accepted, and the lawyers apparently don't care. They are now telling people to just be patient and that VW is backlogged. Oh boy.

What's more important is that the judge doesn't seem to care. There were deadlines in the settlement that aren't being met, and the judge is saying to be patient.

This is a big project. But it is NOT technically challenging, not at all. They don't need geniuses, or highly skilled people. Average, ordinary competent people will do. They do need a lot of them, and in a short period of time. This would be a great job for some of the retired car nuts who inhabit these forums.

kyfdx

Having a bit of experience with contract call centers, I can tell you it just doesn't work that way. The labor market is a lot tighter than you think.

Pretty sure that all twenty of the car nuts on Edmunds wouldn't put a dent in it.

Being the turn-in guy at the dealership would be a good "temporary" gig. I'm guessing that most dealerships only take returns one day per week, because the same guy rotates among five dealerships in the same area.

henryn

kyfdx said:

Having a bit of experience with contract call centers, I can tell you it just doesn't work that way. The labor market is a lot tighter than you think.

Pretty sure that all twenty of the car nuts on Edmunds wouldn't put a dent in it.

Being the turn-in guy at the dealership would be a good "temporary" gig. I'm guessing that most dealerships only take returns one day per week, because the same guy rotates among five dealerships in the same area.

Which is exactly my point. They could get a lot more done, and in a more timely fashion, if they had more people. And no, the labor market isn’t tight. Or perhaps I should say, it most definitely is not tight here in my part of the world. With oil prices so low, there are a LOT of unemployed, highly skilled people who would love to have a temporary gig.

henryn

http://forums.tdiclub.com/showthread.php?t=470046

Some guy just posted, 9:50 a.m. this morning.

I just got an offer for post 6/28 tdi. 100% restitution. Sweet!!

Okay, just finished reading the thread. Two others just posted, in the last few minutes. Both at 100%.

kyfdx

Sweet!

28firefighter

Awesome!!

corvette

Didn't we originally think that the half restitution was only for people who bought after the scandal broke but before settlement was reached? That's awesome if it's true. 

qbrozen

The part I'm not clear on, however, is if it matters when the previous owner had it. For example, if the PO traded it in pre 6/28 but I bought it post 6/28.

corvette

If true, this is the second bit of "found money" I've gotten today. My pay stub at work indicated I got a raise plus adjustment pay to correspond to my anniversary date!

Michaell

corvette said:

If true, this is the second bit of "found money" I've gotten today. My pay stub at work indicated I got a raise plus adjustment pay to correspond to my anniversary date!

Congrats! Nothing wrong with found money.

kyfdx

In the documents, it says the 09/15-06/28 buyers get 50%. It really wasn't clear that the post-06/28 buyers were any different, though it was clear that post-06/28 sellers were out of luck.

From the minimal amount of info coming out now, 09/15-06/28 buyers are getting 78% (50% + part of the unclaimed portion of the seller's pool), and post-06/28 buyers are getting 100%.

From everything that's come out so far, what happens with the seller of your particular vehicle does not affect you, specifically.

kyfdx

corvette said:

Didn't we originally think that the half restitution was only for people who bought after the scandal broke but before settlement was reached? That's awesome if it's true. 

@breld did state that he read the documents to mean that post-06/28 buyers would get 100%.

corvette

kyfdx said:

corvette said:

Didn't we originally think that the half restitution was only for people who bought after the scandal broke but before settlement was reached? That's awesome if it's true. 

@breld did state that he read the documents to mean that post-06/28 buyers would get 100%.

That really increases the return on investment. Assuming I can get a turn-in date within the next year, I should have bought several TDIs.

kyfdx

corvette said:

kyfdx said:

corvette said:

Didn't we originally think that the half restitution was only for people who bought after the scandal broke but before settlement was reached? That's awesome if it's true. 

@breld did state that he read the documents to mean that post-06/28 buyers would get 100%.

That really increases the return on investment. Assuming I can get a turn-in date within the next year, I should have bought several TDIs.

I want to be out before January 1st, to avoid the property tax.

But, on the flip side, I've made $155 using my hatchback to help a friend with some delivery work.
(wait.. do I have to re-figure my ROI, now?)

henryn

http://forums.tdiclub.com/showthread.php?t=470067

Actual buybacks have commenced! According to one statement in this thread, approximately 17 were handled today, nationwide. A very small number, but it's a beginning.

And the two people who posted both selected EFT, and got nothing except "Chase will contact you within 24 hours".

breld

kyfdx said:

corvette said:

Didn't we originally think that the half restitution was only for people who bought after the scandal broke but before settlement was reached? That's awesome if it's true. 

@breld did state that he read the documents to mean that post-06/28 buyers would get 100%.

Well, I just hope it all works out that way (which it seems like it is) - I certainly wasn't confident about it.

kyfdx

Looks like the claims department is working on Sunday.

stickguy

probably Monday already wherever they are.