The Ford Focus Repurchase Agreement: An Overview
If you own a 2012-2016 model year Ford Focus or a 2011-2016 model year Ford Fiesta, you may be eligible for a repurchase agreement with Ford. This agreement is a result of a settlement of class action lawsuits brought against the automaker for alleged transmission defects in these vehicles.
The settlement, which was announced in 2019, allows Ford owners to either sell their vehicles back to the company at fair market value or receive cash compensation for past repairs related to the alleged defects. The alleged defects involve the vehicles’ dual-clutch transmissions, which were supposed to provide improved fuel efficiency and smoother shifting but instead have been plagued with issues such as shuddering, slipping, and stalling.
To be eligible for the repurchase agreement, owners must have experienced at least one of the following problems with their vehicles: transmission shuddering, slipping, or delayed engagement; transmission grinding or other such noises; or a sudden and unexpected loss of power. Additionally, owners must have brought their vehicles to a Ford dealership at least three times for transmission-related repairs, and at least one of those visits must have occurred within 5 years or 60,000 miles of the vehicle’s original purchase or lease date.
If you meet these eligibility requirements, you can choose to either sell your vehicle back to Ford or receive cash compensation for past repairs. If you choose to sell your vehicle back to Ford, you will receive the fair market value of the vehicle, as determined by a third-party appraiser. If you choose to keep your vehicle and receive cash compensation for past repairs, you could receive up to $2,325 for each transmission-related repair that you have paid for out of pocket.
Keep in mind that the repurchase agreement is only open for a limited time. The deadline for filing a claim is September 5, 2020, so if you think you might be eligible for compensation, it’s important to act quickly.
To file a claim, you can visit the settlement website at www.fordtransmissionsettlement.com. There, you can find more information about the repurchase agreement and the eligibility requirements, as well as file a claim online or by mail.
In conclusion, if you own a 2012-2016 model year Ford Focus or a 2011-2016 model year Ford Fiesta and have experienced transmission issues, you may be eligible for a repurchase agreement with Ford. This agreement allows you to either sell your vehicle back to Ford at fair market value or receive cash compensation for past repairs. To file a claim, visit the settlement website before the September 5, 2020 deadline.