So far, the majority of Volkswagen TDI owners who’ve joined the company’s settlement have chosen to sell their cars back at above-market rates.
According to Bloomberg.com, greater numbers of the 210,000 owners and lessees want the buyback instead of a cash payment and a free fix. The numbers vary depending on age, equipment, and mileage, but it seems thatÂ owners are optingÂ for the simplest way out. Volkswagen must pay the trade-in value for a clean car listed under the NADA guidelines, plus $2986.73 and one-fifth of the carâs determined trade-in value.
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Considering that Volkswagen offered the choice ofÂ cash payments from $5100 to nearly $8000 and buybacks between $12,475 and $34,000, we’re not surprised by owners swaying toward extra cash. Of course, a buyback means they’ll need to buy a replacementÂ car, which might not be worth the effort or the extra cost. Another quarter-million or so eligible Volkswagen drivers have not made up their minds yet.