Volkswagen is agreeing to provide up to $10 billion to owners and lessees of VW and Audi 2.0 liter diesel cars that it claimed had low levels of harmful emissions, but did not, this comes under a partial settlement filed by the FTC. It’s the largest false advertising case in FTC history. Nearly 500,000 cars are affected.
Under a related partial settlement with the US Department of Justice and California Attorney General, Volkswagen will spend an additional $4.7 billion to mitigate pollution and make investments that support increased use of zero-emissions vehicles. This partially resolves allegations by the US Environmental Protection Agency (EPA) and the California Air Resources Board (CARB) that Volkswagen violated the Clean Air Act and the California Health and Safety Code.
RELATED: Better Business Bureau Warns of Online Purchasing Scam
Here are answers to some questions you may have if you own or lease an affected car.
What are the options?
How can I find out if my car is covered?
Visit VWCourtSettlement.com. Enter your Vehicle Identification Number (VIN) to see if your car qualifies. In the future,VWCourtSettlement.com will allow you to check how much compensation you will receive and register for compensation.
What models and years are covered?
The settlement covers these models and years:
How much will I receive for a buyback of my car?
The amount you will receive for a buyback will depend on the particular model, year, body style, mileage, where you live, and certain options, like a power sunroof or navigation system. You will be compensated based on the value of the car at the time Volkswagen’s deception became public, as well as for the costs associated with purchasing a new car and Volkswagen’s deception.
RELATED: Several Americans are Victims of Fraud
Right now, you can use these charts to estimate how much you will receive:
These factors also affect compensation:
- Passat and A3 Mileage Adjustments
- Beetle and Jetta Mileage Adjustments
- Golf Mileage Adjustments
- Regional Chart
When will EPA and CARB announce whether they have approved a modification?
First, Volkswagen must submit its proposed modifications for EPA and CARB to review. The earliest any modification could be approved would be Fall 2016, and it may be later than that.
Will I receive more information in the future about my options?
Yes. After the settlements are approved by the court, you will be mailed notifications from Volkswagen and the attorneys representing owners and lessees.
Where can I get more information?
The most comprehensive and up-to-date information will be atVWCourtSettlement.com. You also may call 844-98-CLAIM.
Are you a victim of fraud or money scam? Share your story with us on the Money Credit and You Facebook page!
Original article published on FTC. Photo credit: GreenCarReports.com.
