Can I Sell or Trade-in my Car Prior to Settlement?

We believe that, all things being equal, if an owner or lessee can wait to see what kind of settlement will be offered by Volkswagen, they should do so.  But since each owner or lessee is in a different situation, if you need to sell or turn in your vehicle for financial or personal reasons, you can do so. 

However, as a former owner or lessee you will likely be placed in a difference subclass of plaintiffs (i.e. those who have sold or returned their leased VWs), but the rough analysis should still hold true in a settlement - that you are entitled to be compensated for the loss of value to the vehicle. 

In a settlement, it's possible that individual vehicle values will be established by the Settlement Master to determine the amount of loss suffered by each plaintiff. So, if you've already sold the vehicle prior to settlement for an amount higher than what is determined to be the “loss of value” for purposes of the class action, then you may not receive compensation as a result of the class action.  Conversely, if you sell your vehicle for less  than the “loss of value” amount, you may not get compensated for that additional loss.

If you do sell the vehicle or turn in a leased vehicle or transfer ownership of the vehicle, please keep a copy of all documentation related to your ownership of the vehicle, plus any documentation related to the sale, trade-in, lease end or title transfer. In addition, keep detailed records* of the transaction as your loss in resale value may be recoverable in the class action.

*If you are currently a client of Kreindler & Kreindler, LLP in this litigation and you have a transfer of ownership prior to settlement, please forward a copy of any new documentation related to the transaction to Alex Habig, amhabig@kreindler.com.