As you may or may not know, VW made a huge mistake by stating the false emission and MPG facts for their diesel powered vehicles. For those of you not in the loop basically VW stated that their diesel powered cars were emission compliant(they weren’t) as well as getting higher MPG than what they actually were. The reported settlement is for $14.7 billion, and Volkswagen is offering substantial cash payments to owners of the 482,000 diesel four-cylinder cars affected by the false emissions declarations.
So at this point in the story is when things get interesting. VW has agreed to offer a buyback program for those people that currently own their diesel powered cars. The buyback offers blue book value PLUS an additional $5,100 to about $10,000. This offer is a great deal for these owners and a gamble for VW(In my opinion they are hoping that the customer turns around and buys another VW with their newfound cash). What makes this story extremely interesting is the entrepreneurs that are getting in on this buyback action.
According to multiple reports on the news as well as reddit people have been stockpiling these faulty cars and turning a large profit. One person mentioned owning over 25 of the VW diesels with plans to buy even more of the upcoming buyback eligible 3.0l diesels. Another opportunist mentioned that he has already invested $340,000 into his stockpile.
Some people have become outraged at this and others are hopping on the VW cash train. What are your thoughts? Would you buy a faulty VW diesel to make a quick $10k? Do you think that any of the original owners will be buying another VW with their extra cash?