Class Action notice for CVTs

[ragtopday Johnna]

Did anyone else get the CVT Class Action notice this week?

If I read it right, I won't qualify since mine is still fine (knock on wood). Looks like $4,100 is the max payout.

[mcconned]

$4.050 to the lawyers and $50 to the owners, right?

[ragtopday Johnna]

$4.050 to the lawyers and $50 to the owners, right?

No, actually $4,100 to the owner. Some have paid $7k or $8k to have the CVT replaced when it failed, so I'm not sure where that figure comes from. There was also a reimbursement offered to former owners who have sold their cars after the CVT failed. I was hoping for an offer of replacement when/if it does fail, but must say this is the most miles I've had on a car with no transmission problems. (Again, knock on wood.)

[Minidave]

Didn't they extend the warranty to 150K?

I thought the $4100 was to folks who'd paid out of pocket to someplace other than a MINI dealer, and $2000 to those who had traded it in with a bad tranny and took a loss because of it.

I thought they were reimbursing people who'd had it done at a dealer for out of pocket, not a set amount. I expect someone who paid $6-9K to have their transmission replaced at a dealer would welcome any help tho.....

[ragtopday Johnna]

The settlement does include reimbursement up to 150,000 miles. For instance, if you had 150,000 miles on an 8 year old car, you would qualify for 12.5% of your out-of-pocket expenses for repair or replacement at an authorized MINI or BMW dealership.

If you had repairs at a third party repair facility within 8 years/150,000 miles, $4,100 is the 100% amount. So a 6 year old car with 75,000 miles would get 55% of $4,100.

If you sold a MINI with a failed CVT for $4,000 or less prior to the effective date of the settlement, you can get up to $2,000. There's also some info about the parts warranty being extended, about joining the class action suit if you had a CVT replaced under warranty and then had the replacement fail.

[Minidave]

Oh, I did not know it was pro-rated.....

[ragtopday Johnna]

Oh, I did not know it was pro-rated.....

I hadn't noticed that until I re-read it today. There's a fancy chart. Also, if I read this right (artist not a lawyer), the attorneys in the case are getting $1.9 million plus $2,000 per person who settles. The attorneys stand to make more per person than the MINI owners do.

[mcconned]

Hence, my earlier cynical past.
Actually, this settlement beats other class action suits I've seen.