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Here’s Exactly How You Can Make Money On Your Diesel Car

The Volkswagen diesel scandal will go down as the worst and most expensive automotive blunder in history. Recently federal judge, Charles Breyer, just approved one of the biggest consumer settlements in U.S. history to the tune of $14.7 billion regarding the Volkswagen and Audi’s 2.0 liter diesel engines.

This means that if you own any of these five affected vehicles you’ll be able to start the settlement process now. When it comes to what to do with your car, you now have two options:

Option 1: Buyback

Volkswagen will buy your car back and pay you the National Automobile Dealers Association (NADA) September 2015 Clean Trade-In value. If you’re still making payments on the car or are leasing it, you may be eligible to have your loans forgiven or have your lease terminated without penalties

Option 2: Fix Your Car

Pending government regulator’s approval, Volkswagen will modify the car to remove the diesel emission cheating software, so that it will meet modified emissions standards. This will most likely mean that your car will take a mileage and performance degradation. In addition to the modification owners will also get an extended emissions warranty and Lemon Law-type protections, if approved by government regulators.

Regardless of which option you choose, you will also get a cash payment anywhere between $5,100 to $10,000 for each car.

If you’re still confused, VW Court Settlement even has a YouTube channel explaining what you can do:

You’ll have until September 2018 to decide whether to sell the car back or fix it with VW’s modifications, pending government approval. To start the settlement process head over to vwcourtsettlement.com.

About Hansen

The engineer amongst the crew, Hansen once built a mini baja car with his bare hands. Hansen had the opportunity to join Honda’s R&D team in Ohio but chose the life of the east coast and the defense industry instead. A die hard auto enthusiast he religiously follows the auto industry and loves long walks in the auto shows.

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One comment

  1. In the long run, keeping your TDI will make and/or save you more money. The buyback will create a huge shortage of diesel cars in the used-car marketplace. People are going to want these cars, and if you still have one then you can set your own price (assuming you took good care of it). And while you still own it, you’ll continue to save money on fuel. You’ll still have to pay for maintenance and the usual repairs, just as you would with a gasoline engine. But most gasoline engines won’t last 500,000-700,000 miles.

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