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Vehicle Value.
A vehicle’s Vehicle Value for a Buyback or Trade-In will be determined from the CBB Wholesale Category applicable to a vehicle based on its current mileage (“Current Mileage”) no more than twenty (20) days before it is surrendered to a Volkswagen or Audi dealer (the “Surrender Proxy Date”), provided that, when the vehicle is actually surrendered, its mileage is within the Allowance from the Current Mileage set forth in Schedule “B”.
For those vehicles whose Current Mileage places them in the highest mileage CBB Wholesale Category, their Vehicle Value will be further determined by establishing by calculation their mileage as of September 18, 2015.
First, an average number of daily kilometres (km) driven during the period from the
vehicle’s Original In Service Date to the Surrender Proxy Date (the “Average DailyKM Rate”) will be determined using the following formula:
current mileage/days from in service date to surrender date
For example, an Eligible Owner chooses the Buyback and makes an appointment to
surrender a vehicle on June 9, 2017. To prepare for the Buyback, the vehicle’s Current Mileage is reported 20 days before the scheduled appointment, on May 20, 2017, as 160,900 km. Based on the Current Mileage, the vehicle falls into the highest mileage CBB Wholesale Category. The vehicle was first sold in Canada as a new vehicle on February 1, 2010. The number of days between February 1, 2010 and the Surrender Proxy Date of May 20, 2017 is 2,665 days. Based on this example, the Average Daily KM Rate, rounded to the nearest whole number, is:
169,900km/2665days = 60km/day
The Average Daily KM Rate is used to establish the vehicle’s mileage as of September 18, 2015 (the “September 2015 Mileage”) using the following formula:
Current mileage - (daily km rate x number for days between Sept. 18, 2015 & return date)
Using the same example, the number of days between September 18, 2015 and the May 20, 2017 Surrender Proxy Date is 610 days. As a result, the September 2015 Mileage is:160,900km - (60km/day x 610days) = 124,300km