Exclusive: VW to offer to buy back nearly 500,000 U.S. diesel cars - sources

WASHINGTON (Reuters) - Volkswagen AG (VOWG_p.DE) and U.S. officials have reached a framework deal under which the automaker would offer to buy back almost 500,000 diesel cars that used sophisticated software to evade U.S. emission rules, two people briefed on the matter said on Wednesday.

The German automaker is expected to tell a federal judge in San Francisco Thursday that it has agreed to offer to buy back up to 500,000 2.0-liter diesel vehicles sold in the United States that exceeded legally allowable emission levels, the people said.

Exclusive: VW to offer to buy back nearly 500,000 U.S. diesel cars - sources | Reuters

Buyers market for second hand diesels in the Middle East then.

:)

^^ Too bad the German Government is so spineless. This would be a good time for them to go after Microsoft for the spyware in Windows 10 and the Google for Android privacy and politely let the American Government know the treatment German corporations get in America will determine how these defendants are treated in Germany.

So assuming they were mostly bought on credit, this is how it might go then?

1 - Customer pays a deposit and gets the car on credit.
2 - VW Financing types the number into a computer, and that is transferred to VW manufacturing, which is sent to Germany after paying some costs in the US. They receive 100% plus interest of the sale price of the car.
3 - Now they have to buy the cars back, so they pay back the deposit and any installments paid, and take the cars back.Very rarely this will be 100% of the sale price and likely to be 10-35 % of the sale price depending upon finance terms and on most cars, they have covered their costs of making the car, and crucially have the cars back in their possession. .
4 - They delete the entry is VW Financing, and it is gone. Account closed - sign here, no further payments.
5 - They then spend a bit of cash tweaking the system that is illegal, and sell the cars through their second hand market, or perhaps just change the documentation to be honest. Say they get 50% of retail value.
6 - VW are up. The customers get their money back and go spend it again somewhere else, and likely to be with VW after such a great gesture.
7 - There is millions more in fresh from the press USD created floating around the markets adding to the ever increasing inflllation.

So everyone's a winner. Except the people on minimum wage who could not afford a car in the first place, and whose 2 minimum wage jobs will buy just a little bit less than it could last week.

Quote:

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Originally Posted by pseudolus

So assuming they were mostly bought on credit, this is how it might go then?

1 - Customer pays a deposit and gets the car on credit.
2 - VW Financing types the number into a computer, and that is transferred to VW manufacturing, which is sent to Germany after paying some costs in the US. They receive 100% plus interest of the sale price of the car.
3 - Now they have to buy the cars back, so they pay back the deposit and any installments paid, and take the cars back.Very rarely this will be 100% of the sale price and likely to be 10-35 % of the sale price depending upon finance terms and on most cars, they have covered their costs of making the car, and crucially have the cars back in their possession. .
4 - They delete the entry is VW Financing, and it is gone. Account closed - sign here, no further payments.
5 - They then spend a bit of cash tweaking the system that is illegal, and sell the cars through their second hand market, or perhaps just change the documentation to be honest. Say they get 50% of retail value.
6 - VW are up. The customers get their money back and go spend it again somewhere else, and likely to be with VW after such a great gesture.
7 - There is millions more in fresh from the press USD created floating around the markets adding to the ever increasing inflllation.

So everyone's a winner. Except the people on minimum wage who could not afford a car in the first place, and whose 2 minimum wage jobs will buy just a little bit less than it could last week.

---

You're an idiot.

Quote:

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Volkswagen told its shareholders last year it had set aside $7.3bn to help defray the potential costs of a recall or regulatory penalties. Most outside observers have said that figure is probably far too low. The company faces as much as $20bn in fines for Clean Air Act violations alone, before paying to fix the cars or compensate their owners.

---

Volkswagen to buy back or repair nearly 600,000 vehicles in emissions scandal | Business | The Guardian

Quote:

---

Originally Posted by harrybarracuda

Quote:

---

Originally Posted by pseudolus

So assuming they were mostly bought on credit, this is how it might go then?

1 - Customer pays a deposit and gets the car on credit.
2 - VW Financing types the number into a computer, and that is transferred to VW manufacturing, which is sent to Germany after paying some costs in the US. They receive 100% plus interest of the sale price of the car.
3 - Now they have to buy the cars back, so they pay back the deposit and any installments paid, and take the cars back.Very rarely this will be 100% of the sale price and likely to be 10-35 % of the sale price depending upon finance terms and on most cars, they have covered their costs of making the car, and crucially have the cars back in their possession. .
4 - They delete the entry is VW Financing, and it is gone. Account closed - sign here, no further payments.
5 - They then spend a bit of cash tweaking the system that is illegal, and sell the cars through their second hand market, or perhaps just change the documentation to be honest. Say they get 50% of retail value.
6 - VW are up. The customers get their money back and go spend it again somewhere else, and likely to be with VW after such a great gesture.
7 - There is millions more in fresh from the press USD created floating around the markets adding to the ever increasing inflllation.

So everyone's a winner. Except the people on minimum wage who could not afford a car in the first place, and whose 2 minimum wage jobs will buy just a little bit less than it could last week.

---

You're an idiot.

Quote:

---

Volkswagen told its shareholders last year it had set aside $7.3bn to help defray the potential costs of a recall or regulatory penalties. Most outside observers have said that figure is probably far too low. The company faces as much as $20bn in fines for Clean Air Act violations alone, before paying to fix the cars or compensate their owners.

---

Volkswagen to buy back or repair nearly 600,000 vehicles in emissions scandal | Business | The Guardian

---

You're an idiot. Release that press statement, borrow that amount at negative equity, use it to invest in the dropped share price, it pushes up, selling off purchased shares at a profit, other share holders wealth increase, and the bank get all that money money in real money to replace the fake money that it had created out of thin air a few months earlier to fund all of this. every one's a winner.... except the man on the street, but a fool like harry doesn't care about anyone as long as Big Brand name firms are OK.

Quote:

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Originally Posted by pseudolus

this is how it might go then?

---

What about public relations. Pollution has no borders.

But they'll have nice USA safety features on vehicles. :rolleyes:

Quote:

---

Originally Posted by pseudolus

Quote:

---

Originally Posted by harrybarracuda

Quote:

---

Originally Posted by pseudolus

So assuming they were mostly bought on credit, this is how it might go then?

1 - Customer pays a deposit and gets the car on credit.
2 - VW Financing types the number into a computer, and that is transferred to VW manufacturing, which is sent to Germany after paying some costs in the US. They receive 100% plus interest of the sale price of the car.
3 - Now they have to buy the cars back, so they pay back the deposit and any installments paid, and take the cars back.Very rarely this will be 100% of the sale price and likely to be 10-35 % of the sale price depending upon finance terms and on most cars, they have covered their costs of making the car, and crucially have the cars back in their possession. .
4 - They delete the entry is VW Financing, and it is gone. Account closed - sign here, no further payments.
5 - They then spend a bit of cash tweaking the system that is illegal, and sell the cars through their second hand market, or perhaps just change the documentation to be honest. Say they get 50% of retail value.
6 - VW are up. The customers get their money back and go spend it again somewhere else, and likely to be with VW after such a great gesture.
7 - There is millions more in fresh from the press USD created floating around the markets adding to the ever increasing inflllation.

So everyone's a winner. Except the people on minimum wage who could not afford a car in the first place, and whose 2 minimum wage jobs will buy just a little bit less than it could last week.

---

You're an idiot.

Quote:

---

Volkswagen told its shareholders last year it had set aside $7.3bn to help defray the potential costs of a recall or regulatory penalties. Most outside observers have said that figure is probably far too low. The company faces as much as $20bn in fines for Clean Air Act violations alone, before paying to fix the cars or compensate their owners.

---

Volkswagen to buy back or repair nearly 600,000 vehicles in emissions scandal | Business | The Guardian

---

You're an idiot. Release that press statement, borrow that amount at negative equity, use it to invest in the dropped share price, it pushes up, selling off purchased shares at a profit, other share holders wealth increase, and the bank get all that money money in real money to replace the fake money that it had created out of thin air a few months earlier to fund all of this. every one's a winner.... except the man on the street, but a fool like harry doesn't care about anyone as long as Big Brand name firms are OK.

---

You continue to spout unintelligible gibberish.

I think VW is a big brand name.

I'd say they're taking it right up the gary glitter.

WTF are you reading?