Many people by now have probably heard that Volkswagen put software on their vehicles that would help them pass emissions tests but when the vehicle is out on the road it actually releases a high amount of nitrogen oxide into the air. The company plans to fix the problem, but right now it is unclear when or how this will happen. If you are a Volkswagen owner then you may be confused as to what you should do now. Here are some things for you to consider while you wait for the company’s solution to the problem. If you have questions or concerns, you should speak to a Volkswagen emissions fraud lawyer with the Higgins Firm about your case. We will help to answer any questions you may have and discuss any legal options you may have.
The Volkswagen company has not yet stated how they will fix the problem. Many owners are worried that any repairs will lower the fuel economy and performance which are the reasons many people purchased the vehicles to begin with. The Environmental Protection Agency has told Volkswagen to correct the problem and to follow pollution regulations, but so far there is no news on how or when the problem will be fixed. So what should owners do now?
Many owners fearing that their vehicles are losing value may want to sell them as soon as possible. However, Eric Ibadan, senior analyst for Kelley Blue Book, is recommending that owners wait to sell until the company offers a solution to correct the problem. He also states that, VW diesels traditionally have higher resale values than gasoline counterparts, but the scandal might erode that premium, especially if the fix cuts mileage or impacts their sporty performance. If repairs are made, the value may not be affected in the long-run as history has shown with Toyota’s car values returned to normal within a year of an unintended acceleration crisis.
Should owners consider taking legal action against Volkswagen? This may be an option but it could take a while to see any results. However, owners may get the compensation they want based on the history of the Toyota agreeing to pay over one billion dollars for hundreds of lawsuits filed by owners who said their vehicles lost value after the company’s acceleration problems. Some of the vehicle owners are also considering other options such as wanting Volkswagen to take back their vehicles and give them credit which they can use for a new car. Politicians also are calling on the Federal Trade Commission to investigate because VW often advertised the cleanliness of the vehicles. The Federal Trade Commission may be able to seek remedies for all of the vehicle owners.
Don Marion, one Volkswagen owner stated that, “I’m going to wait and see what they do, but I’m not going to do nothing. It’s just dumb that they did this. How could they think that it wasn’t going to be discovered? What arrogance, what bad judgment.”
This is a confusing and difficult time for many Volkswagen owners as they try to decide what to do. If you are considering legal action and would like to discuss your options, then you should contact one of our knowledgeable and experienced automobile and Volkswagen emissions fraud lawyers at the Higgins Firm. We will hear your case and discuss any legal options you may have. We will also discuss any compensation you may be entitled to for any loss you may have suffered.
You can contact us online or by calling 800.705.2121 to discuss your case and any questions you might have.