VW buybacks and lease terminations to begin

Earlier this year, the FTC sued Volkswagen for falsely claiming that its diesel cars had low levels of harmful emissions. A federal judge approved the FTC order that requires Volkswagen to provide up to $10 billion to owners and lessees of VW and Audi 2.0 liter diesel cars. Here are some pointers for people who own or lease a 2009 to 2015 VW TDI Beetle, Golf, Jetta, Passat or Audi TDI A3.

  • You have until September 1, 2018 to submit a claim. You can change your mind about which option you want until you bring your car in to VW.
  • You can submit a claim on VWCourtSettlement.com, or call 1-844-98-CLAIM to request a paper claim form. In order to complete your claim, you will need certain documents, including the vehicle title and proof of registration.
  • After you submit your claim, VW has 10 business days to tell you whether your claim is complete. If your claim isn’t complete, VW will tell you what you need to do to complete it.
  • After your claim is complete, VW has 10 business days to review it and confirm that you’re eligible.
  • After you have been confirmed to be eligible, VW will send you an offer letter. If you accept VW’s offer, you will sign the letter, get it notarized and return it to VW. After VW confirms that it received your letter, you can schedule an appointment. You will be able to choose from different options. If you choose:
    • buyback, you will be able to schedule an appointment that happens within the next 90 days.
    • lease termination, you will be able to schedule an appointment that happens within the next 45 days.
    • an approved emissions modification, VW will notify you when a modification is available for your vehicle. Once a modification is available, you will be able to schedule an appointment within 90 days.
  • If your car was drivable on September 16, 2016, but isn’t drivable on the day of your buyback or approved emissions modification appointment, you’re still eligible for some compensation. Visit VWCourtSettlement.com or call VW at 1-844-98-CLAIM for more information.
  • You can choose to get your buyback or lease termination payment by check at your appointment, or have it deposited electronically to your bank account within three banking days. If you have a car loan, VW will apply your buyback payment to the loan and pay you any remaining amount. If, at your buyback appointment, your car’s mileage is more than the expected mileage range from when you submitted your claim, your buyback amount could be reduced. If that happens, you will get a check within three banking days.
  • When your buyback or approved emissions modification is complete, VW will give you an itemized receipt that shows the amount you received and explains any adjustment, such as mileage or a loan payment.

You can use the buyback money however you want. You don’t have to spend it on a car from VW or any other manufacturer. If anyone offers to buy your car outside the settlement, or pressures you to “Act now!”, walk away. If you see something that doesn’t seem to follow the terms of the settlement, please report it to the FTC.

Note: We edited this post on October 26, 2016 to clarify which payments you may get by check at your appointment. On November 17, 2016 we added information about offer letters and clarified appointment scheduling.

Tagged with: car, refunds, settlement
Blog Topics: 
Money & Credit

Comments

Your saying that when the review is complete you have 90 days to schedule appointment.on website mine is still under review but on phone they said im good. But said you have to wait to get letter in mail than sign and notarize it than mail back than that has to be approved than you can make appointment. Thats a long time. Especially when you have a payment due to vw credit on a car your going to turn in. I would think since the approvel you wouldnt have to pay since your waiting for mail?

That's exactly what they told me. The major problem I have is that people that opted for buyout have to still make their payments on a car that is being purchased by them. I realize it is a wash out but they are taking their sweet time finalizing the whole thing. I'm signing power of attorney over because I can't wait any longer for this it's holding up my job in Europe and I'm stuck here because of this car.

We called vw financial and for $50 month car payments are waived until settlement.

I believe since trump said he wants no cars from the outside and sell american cars more in the U.S That Vw is hesitating to pay us for the buy back. I mean why not? Why would they pay so much when they dont know what trump is going to do? what if they cant continue selling cars here in the U.S no longer and paid us they can rather go bankrupt in america and continue selling their cars other places! I dont see another reason to make us wait this long and that without giving us a reason when we call customer care. They have no time frame and are rather paying penalty

you had to pay $50 to freeze your payments?

Has anyone just had the emissions fixed and took cash? Or heard of anyone doing that?

I call maybe twice a month and I'm being told that they still haven't produced a modification yet... I have 100% of my stuff done and I am just waiting for them to come out with a modification so I can schedule an appointment. I remember back when I first started this process that they said payouts would be coming in the Fall of 2016. It's 02/15/2017..... Can someone help me?

Call another dealer? Are you sure they said they haven't produced it and that they don't have it there yet?

I have a good friend who opted for the modification - she was in and out of the dealer in January I want to say? after completing the paperwork.

I submitted online and got approved documents within 10 days. They now have 10 more days for final approval or until 11/14. I did hear from the dealer that I will get a letter, have to have it notarized with my signature and send it back via snail mail prior to making an appointment.

I waited on hold for 3 hours and spoke to an actual person regarding getting the offer. I was told they will email the offer to us and we can take the offer and have it notorized and scan it back to VW via email. That way it will speed the process of making an appointment to have the car bought back.

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