VW Close to Agreement to Buy Back Diesels and Compensate Owners

The settlement details for VW diesel customers in the USA is here and you know what? It actually looks pretty good.

The agreement involves 500,000 2-liter engines that VW called “clean diesels” but turned out to be NOx spewing polluters. The full details are available here, but here’s some cliff notes:

  1. Volkswagen will offer to buy back the affected diesels using their pre-scandal NADA book value (September 2015)
  2. Owners can sell their cars back or keep them and wait for an EPA approved fix
  3. Whether you sell it or keep it, VW will compensate owners somewhere between $5000-$10000 for their trouble
  4. Lessees will have the option of terminating their lease without penalty

So far there is no word on what the fix will be for these vehicles or how that’ll affect MPG or performance. Owners of the following are eligible for compensation:

475,000 2.0-liter diesel cars including the 2013-2015 Beetle, 2010-2015 Golf, 2009-2015 Jetta, and 2012-2015 Passat, along with the Audi A3 between 2010-2013 and 2015. All in the USA.