(Bloomberg) -- Nine months after the Volkswagen AG scandal shocked the world, thecarmaker has reached an agreement with regulators and carowners.

The settlement, if approved by the federal judgeoverseeing the case, will let owners of about 500,000 2.0-literdiesels sell their cars back to VW or wait for the company to comeup with a fix that passes muster with environmentalauthorities.

Here’s what to expect:

So what do I get?

For starters, car owners will be eligible for a payment rangingfrom $5,100 to approximately $10,000 per vehicle. The amount willbe based on the age and mileage of the car.

Then, there are a couple of options. You can choose to have yourcar fixed for free — even though it might reduce itsperformance and fuel economy — or sell it back to VW.

What do I get if I sell it?

VW will pay you the trade-in value of the car as of September 2015,before VW admitted it rigged the cars to pass emissions tests.Prices will range from $12,475 for a 2009 VW Jetta sedan to $44,176for a 2015 Audi A3 TDI Prestige. You will get the mostgenerous book value, and the condition of the car won’t matter. Youmay also have the option to have VW pay off your car loan.

What happens to my car then?

VW can’t re-sell or export any of the cars that do not receive anapproved repair. If they can’t be fixed they will be scrapped.

What if I leased my car?

If you leased your car, you may be able to terminate the leasewithout penalty and get a cash payment (though not as rich as theowners will get). You can also get it fixed if you prefer.

What if I no longer have the car?

If you owned an eligible vehicle on or before Sept. 18, 2015 andsold it before June 28, 2016, you and the buyer will be eligible tosplit the cash payment and the new owner can sell it back to VW.Likewise, if you were leasing as of the September date, you may beeligible to participate.

What if I want to keep my car and have it fixed?

You can, but there’s a catch: VW hasn’t come up with a fix thatsatisfies U.S. authorities. The carmaker must demonstrate to U.S.Environmental Protection Agency and the California Air ResourcesBoard they can fix the cars in a way that meets U.S. clean-air lawsand that the pollution-control systems will be robust enough tolast.

So what do I do in the meantime?

You can keep driving your car for now, even if it wouldn’t passstate emissions tests. Individual states may require approvedemissions fixes on these vehicles in the future.

When will I get my money?

If the court approves the agreement at a July 26 hearing, asettlement look-up tool will be posted on the internet. VWmay begin buying back cars and issuing payments as early as thisfall. You’ll get your check in the mail or be able to pick it up ata dealership. You won’t have to haggle with the dealers over theamount.

I like my VW as is. Can the government force me to fix it?

No, the EPA can’t compel a consumer to participate in a recall, beit for safety or for emissions. But you won’t get the cashpayments. That’s the point of the payments — to make itworthwhile for vehicle owners to get the emissions systems workingor get the cars off the road.

What if I don’t want to participate in the settlement?

You can opt-out and pursue your own case against the automaker. Orjust keep driving and not get any payment.

It’s been awhile. Remind me which cars are affected?

The following 2.0-liter TDI engine vehicles are included and may beeligible:

• VW Beetle, 2013 - 2015
• VW Golf, 2010 - 2015
• VW Jetta, 2009 - 2015
• VW Passat, 2012 - 2015
• Audi A3, 2010 - 2013; 2015

Enter your vehicle identification number in this website to findout if your car is eligible: www.VWCourtSettlement.com.

I drive one of the larger 3.0-liter models, what about me?

Sorry, none of the announcements that came out Tuesday are for you.EPA, CARB and VW are negotiating separately on a fix for about80,000 Audi, Porsche and VW vehicles that have a smaller cheatingproblem. The parties wanted to work on the 2.0-liter engines first,since there are more of them. The good news is the 3.0-liter carsalready have a urea-based emissions control system and technicalexperts believe it will be a lot easier to get them into compliancewith U.S. and California clean-air laws.

Where can I get more details?

The court’s website: http://www.cand.uscourts.gov/crb/vwmdl as well aswww.VWCourtSettlement.com and www.AudiCourtSettlement.com. You can use thosesites to sign up for the court-ordered benefits.

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