VW Offers Dealers a Price Guarantee On Used Diesel Vehicles

Volkswagen of America, tries to control the chaos erupted from its emissions scandal and will offer to buy back some used diesel vehicles from its U.S. dealers at pre-crisis prices. According to three dealers briefed on the plan, VW will guarantee the value of certified pre-owned and other used VWs with 2.0-liter diesel engines containing the illegal emissions software in dealer inventory, at prices seen before Sept. 18, when the EPA revealed VW’s violations. If any of those vehicles stay in dealer inventory for 60 days or longer, VW will offer to buy them back from dealers. Since auto insurance is another pressing and costly matter, you can either return the car or you can use auto insurance quotes online and check the prices.

VW-logoThe program will consist of three phases, according to an Oct. 29 memo to dealers from Volkswagen of America COO Mark McNabb, starting with an inventory of diesel vehicles on dealer lots to help VW determine which ones are eligible for the program. That step is expected to be completed by Nov. 13. VW will detail the next phases of the program over the next two weeks, according to the memo.

Offering dealer buybacks also gives retailers certainty that the used diesels on their lots won’t become worthless while they wait for a fix to bring the vehicles into compliance with federal emissions standards. It also will help prevent a glut of used diesels piling up at dealers, who cannot sell the 2.0-liter diesels as certified pre-owned cars but are still accepting customer trade-ins.

Dealers congratulated the move, which VW dealer council chairman Alan Brown said was a move encouraged by the council to ease the uncertainty surrounding the value of used VW diesels.

VW is developing a “customer goodwill” program for owners of diesels affected by the scandal, the dealers said. VW executives didn’t disclose what the program would include, but dealers said VW planned to provide details in the first week of November.

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