Volkswagen Emission Cheating Scandal Update: Settlement Assures Compensation And Buybacks For Buyers

A court settlement for Volkswagen owners would come as good news. After Volkswagen failing the US Emission test, Volkswagen owners are to receive just compensation for buying its diesel car.

According to New York Times, almost a million Volkswagen owners who purchased its diesel cars may finally breathe a sigh of release. This is related to Volkswagen failing the US Emission standards which is called Volkswagen Emission cheating scandal.

On Tuesday, United States District Court in San Francisco, Judge Charles Breyer gave the final approval to an agreement calling Volkswagen to spend an estimated $10 billion to either buy back or fix the Volkswagen diesel cars. The Volkswagen is a huge scandal as it is.

It was reported that these Volkswagen diesel engines were equipped with software which enables the vehicles to pass emission tests even when it is giving out more than the level of pollutants in the air. The Volkswagen scandal was reported and disclosed in September 2015 by Environmental Protection Agency.

Volkswagen dealers are expected to start buying back these vehicles early Nov. 2016. The Volkswagen owners who would rather have the car fixed may need to wait for several weeks until the Environment Protection Agency comes up with a software solution that is to work with most vehicles.

As added by TopTech News, those who are eligible for the settlements and compensation are Volkswagen owners with 2-liter diesel engines dating to 2009. US models include from year 2009 to 2015 Jetta and Audi A3, the 2010 to 2015 Golf and 2012 to 2015 Beetle and Passat.

Most Volkswagen are expected to take the settlement. The Volkswagen owners who do not accept the settlement can sue Volkswagen but there's no guarantee that better terms will be offered.

As part of the settlement, Volkswagen will pay owners $5,100 to $10,000 for the trouble which is dependent on the age of the car. Volkswagen will also buy out the lease if its was through Volkswagen Credit.

Volkswagen has 10 days to accept the owners' claims or send it back for changes. Once the claim is accepted and cleared, Volkswagen has 10 days to make a buyback offer.