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VW diesel owners could get $5,000 compensation from automaker

by Brandon Russell | April 20, 2016April 20, 2016 2:15 pm PST

VW

If you own a Volkswagen with a diesel engine, you might be in line for a $5,000 payday. The automaker on Wednesday reached a deal with U.S. authorities to pay owners as part of Dieselgate, which saw VW rig its vehicles to cheat pollution controls.

If a payout isn’t what you’re looking for, Reuters reports VW will offer to buy back 500,000 2.0-liter diesel models affected by the scandal. As an alternative, VW might also offer to repair affected vehicles if approved by U.S. regulators.

Last year, it was discovered that Volkswagen had used a defeat-device in its software designed to trick the EPA into believing VW’s cars were clean. It was a major deception, and now it looks like Volkswagen will need to pay up. At $5,000 a pop, the automaker could potentially be on the hook for around $3 billion.

More information is sure to come out over the next few days. For now, plenty of questions are still on the table, like how VW plans to value the vehicles it buys back, and whether or not every current diesel owner is eligible for that $5,000 compensation.

Reuters

Brandon Russell

Brandon Russell likes to rollerblade while listening to ACDC.

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