(Bloomberg) – Jeremy Malczyk's 2012 Volkswagen Jetta Sportwagen is no prize.
It has 70,000 hard miles on it, and the interior has been finely detailed by his two young children: beige leather buffed with beige Cheerios.
But the vehicle comes equipped with a two-liter diesel engine doctored to cheat on emissions tests, so it will likely fetch almost $22,000 in Volkswagen's buyback program. A similarly used Sportwagen without the dirty diesel would fetch about $9,000 on the open market.
|Massive repurchase program
A U.S. District Court in California may approve the details of a massive Volkswagen repurchase program as early as Monday, and checks are expected to trickle down this fall to U.S. owners of some 482,000 Golfs, Beetles, Jettas, and Passats, as well as Audi A3 sedans sold with engines that violate emissions standards. It will mark a painful hit for Volkswagen — part of a $15.3 billion settlement with the Environmental Protection Agency — and a windfall for owners of otherwise deeply depreciated vehicles.
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