Volkswagen settlement: What you need to know
Nine months after state and federal regulators said Volkswagen had equipped its 2.0-liter diesel vehicles with “defeat devices” to cheat emissions tests, the automaker has agreed to pay up to $14.7 billion in a slew of settlements.
The proposed settlements, which are still subject to court approval, have a number of provisions for owners and lessees of the affected vehicles. Read on to find out more.
Am I eligible?
If you bought or leased a Volkswagen or Audi 2.0-liter diesel vehicle from model years 2009 to 2015, you could be eligible.
Models include the VW Beetle (model years 2013 to 2015), the VW Golf (model years 2010 to 2015), the VW Jetta (model years 2009 to 2015), the VW Passat (model years 2012 to 2015) and the Audi A3 (model years 2010 to 2013 and 2015).
Former owners and lessees could also be eligible if they owned the vehicle on or before Sept. 18 of last year and sold it before Tuesday.
How much can I get?
Owners will receive at least $5,100 in cash payment; some could receive up to $10,000. The amount is dependent on when the car was acquired (owners who had the car prior to Sept. 18 receive a higher percentage of the car’s value, which is priced at its pre-scandal value), and whether it was bought or leased.
For the record: A previous version of this story said owners and lessees will receive at least $5,100 in cash payment; only owners will receive that amount.
Will they buy back my car?
A buyback, or early lease termination, is one of the options under the proposed settlements. Consumers who choose this could receive between $12,500 and $44,000, depending on the car’s model, mileage, year, trim and the region where it was purchased.
Will they fix my car?
Consumers who don’t want to sell their car back can instead choose to have Volkswagen modify their car to pass emissions tests once the automaker devises a fix and provided that the method is approved by the California Air Resources Board and the Environmental Protection Agency.
How do I get it?
If the settlements are approved in court, notices will be mailed out to affected owners and lessees with the specific terms of the settlement. For more information go to the settlement website: https://www.vwcourtsettlement.com.
For more business news, follow me @smasunaga
5:56 p.m.: This article was updated with a correction.
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