Posted on behalf of Stephens, Anderson & Cummings on Nov 08, 2016 in Product Liability
Last month, a federal judge formally approved the largest auto scandal settlement in U.S. history, with Volkswagen (VW) agreeing to settle its emissions-cheating scandal for $14.7 billion.
If you own one of the 475,000 VW automobiles with fraudulent emissions software, the settlement offers two ways for you to receive compensation:
- Take your vehicle to a VW dealership to be bought back. Owners of certain 2-liter diesel vehicles model years 2009 through 2015 could receive anywhere from $12,500 to $44,000. Payments vary based on how many miles you have driven in your car.
- Take your vehicle in for repairs. Although VW is working on a fix for the emissions software, one does not currently exist. If a fix is developed, you could receive as much as $10,000 in compensation for having your vehicle repaired.
If you have a lease on a vehicle with the emissions-cheating software, the settlement allows you to end the lease without a penalty and receive a cash payment.
The settlement also says that VW will donate $5 billion to support of environmental programs, reduce harmful emissions and promote emissions-neutral cars.
The terms of the settlement will be implemented immediately, according to VW. The automaker plans to hire 900 people to help process buybacks, with one employee being placed at each dealership in the country.
The settlement fulfills the goal of getting polluting cars off the road as soon as possible, according to U.S. District Court Judge Charles Breyer, the judge who approved the settlement.
Approximately 90,000 VW vehicles are not covered by this settlement. However, a settlement could be coming shortly as VW is still negotiating with regulators and consumer lawyers.
If you have been affected by the VW emissions-cheating scandal, contact our Volkswagen emissions scandal lawyers to discuss possible legal options. We offer a free initial consultation and do not charge legal fees unless we achieve a favorable outcome of your claim.
Contact us today by calling (877) 920-9009 or live chat with a representative.