Buyback Program

[wyosteve]

For those who might have one of the vehicles subject to the recall/buyback program, the details are now available. 3 options: 1) get vehicle repaired and receive a $100 Visa prepaid card, 2) Trade your vehicle in on another Ram vehicle before Jan. 4, 2016 and receive a $2000 incentive, or 3) FCA will re-purchase at basically Kelley Blue Book value plus 10% premium (so, for example, if KBB trade in is $40,000, buyback is $44,000 after adding 10% premium). You can get preliminary buyback estimate by going to-- www.fcarecall.com and entering your VIN number.

 

[Deleted member 995608]

Wow! Thanks for the update.

 

[truckin-on]

According to the settlement, this ONLY applies if you have not had the vehicle repaired under the relevant recall campaign. So, in my case, with a 2010 3500 4x4, I had the tie-rod recall done some time ago, so my vehicle is claimed to be addressed, and not covered under the purchase or incentive program.

Anyone have any additional information or confirmation of this understanding? That's how I read it anyway...

 

[wyosteve]

truckin, you are correct, the program only applies to vehicles that have not had the tie rod recall repair done.

 

[Badunit]

So if you got a recall notice but sat on your thumbs and never went in to get it done, you can make FCA repurchase your truck for a good deal but if you diligently went to the dealer to get the repair done, you are out of luck?

 

[truckin-on]

So if you got a recall notice but sat on your thumbs and never went in to get it done, you can make FCA repurchase your truck for a good deal but if you diligently went to the dealer to get the repair done, you are out of luck?

Yep, that's how it reads. Nothing like rewarding procrastination on repairing a safety defect, eh?

 

[wyosteve]

In my case at least it wasn't procrastination, it was FCA's mess. I called the dealer shortly after getting my recall notice in '13. Dealer said 'no parts', "we'll put you on the list and call when they come in". Never heard from them. The consent decree alludes to the fact that NHTSA was also fed up with FCA sitting on their hands and not promptly making parts available to fix the tie rods. I suspect many are/were in the same position as me. So, I'll take the 'reward'!

 

[Beast2B]

I have an email history with my dealer starting Jan 2014 with zero effort on their part. Every contact was initiated by me with the same response- "you're now on the list and we'll call you". I'm not happy that the number I got back from the recall website was based on KBB trade in value, when the consent decree specifically stated purchase price plus 10% minus depreciation. Am I being too picky? Maybe the gray area of 'depreciation' shouldn't benefit FCA when they can profit from fixing the truck and reselling it. Not much of a spanking in that case...

 

[wyosteve]

I haven't read the initial consent agreement since it came out, but I seem to remember it saying 'original purchase price less reasonable depreciation plus a 10% premium'. I understood it to mean that the 10% is added after the purchase price minus depreciation was calculated, which is exactly what FCA has done.

 

[BILLUA]

Yep, that's how it reads. Nothing like rewarding procrastination on repairing a safety defect, eh?

You have no clue what you are talking about... My dealer here has me 42 on the waiting list for the tie rod recall. I have been on their *** and also FCA's about the sluggishness of the recall. I have also filed a complaint months ago to the NHTSA website...

So, move along...

The punishment needed to be metted to FCA...

 

[Beast2B]

I haven't read the initial consent agreement since it came out, but I seem to remember it saying 'original purchase price less reasonable depreciation plus a 10% premium'. I understood it to mean that the 10% is added after the purchase price minus depreciation was calculated, which is exactly what FCA has done.

FCA US's Repurchase Program
35. FCA US shall amend its Defect Information Report (Part 573 Report) for Recalls 13V-038, 13V-527 and 13V-529, to revise the description of FCA US's program for remedying the defect. Specifically, the revision will include an alternative to the repair remedy with respect to unremedied vehicles in each of these campaigns. The alternative remedy will be an offer to eligible owners to refund the purchase price paid by the first purchaser of the vehicle for purposes other than resale, less a reasonable allowance for depreciation, and not including the cost of modifications made to the vehicle after first retail sale ("the Purchase Price"). FCA US will additionally offer a premium of 10% above the Purchase Price to any owner of an unremedied vehicle electing this alternative remedy. FCA US shall notify eligible owners within 60 days of amending the Part 573 reports of the availability of this alternative remedy. At FCA US's discretion, FCA US may remedy and resell any vehicle repurchased under this paragraph. Notwithstanding any other requirements of the Consent Order, it is agreed that FCA US shall have satisfied its performance obligations in this Paragraph by completing notification mailings extending the offer described in this Paragraph to eligible owners, provided that FCA US shall actually provide the refund and premium described in this Paragraph to those eligible owners who elect this alternative remedy.

 

[Beast2B]

it says a 10% premium above the Purchase Price... Not sure if they have to add it before or after they calculate depreciation, but the words are pretty clear!

 

[Bob4x4]

There really is not a parts problem at the corporate level,Some dealers screwed up.I have had no problem having parts on hand for all customers for quite some time,I pretty much can do them in my sleep

 

[wyosteve]

I think the ambiguity revolves around the term 'purchase price'. Is it the original purchase price when the owner bought the truck or the 'purchase price' when FCA is 'purchasing' the vehicle back from the owner?!

 

[Beast2B]

I stand corrected. I read the section again and you're right. No ambiguity. The Purchase Price (capital letters) is after depreciation. Thanks for making me read ALL the words! (Sarcasm intended, please laugh at me)