The settlements allow dealers to continue to market and sell used cars with open safety recalls as long as they disclose the issue in their advertising and in showrooms before the sale. It's the latest wrinkle in a consumer-unfriendly trend that has opened up the sale of more potentially unsafe used cars to the public.
Full Answer
How much is the airbag settlement?
Four of the world's largest automakers have agreed to settle economic damage claims caused by exploding Takata airbags and their subsequent recall.
How much is the Takata airbag settlement per person?
After the Final Registration/Claim Deadline, if enough money remains in the Settlement Fund and it is administratively feasible, the remaining money will be paid to all Class Members who registered/submitted a claim for a Settlement Payment on a per capita basis, up to a maximum of $250 per Class Member.
How much are the Toyota settlement checks?
U.S. Judge James Selna is weighing final approval of a $1.1 billion settlement in Santa Ana, Calif., Bloomberg News reports. He has already approved a preliminary agreement. Of that, the agreement includes $757 million in cash and $875 million in "non-monetary benefits" for owners or former owners of Toyota vehicles.
Is the auto airbag settlement check legit?
It's not a scam. You got this notice because you may be able to claim money as part of a recent class action settlement. You're not alone. Thousands are starting to receive these notices – including a couple of us here at ClassAction.org.
Is the Takata airbag settlement real?
Six car manufacturers including top-selling Toyota have agreed to pay $52 million to settle class action cases in the NSW Supreme Court accusing them of selling deadly Takata airbags. As well as Toyota, the manufacturers who agreed to the deal at mediation include Lexus, Subaru, BMW, Honda and Nissan.
How long does it take to fix a recalled airbag?
How long will the service take? Some vehicles only require a driver's side replacement. In that case, the service will take roughly an hour and a half. Some vehicles will require both a driver and passenger airbag inflator replacement, which will take about 3 hours.
Is Toyota sending refund checks?
If you made your payment by mail, AutoCheque, or Pay Online, TFS will issue a refund check through the mail. Please allow approximately 7-10 business days from the date the refund check is mailed for the check to arrive. Note: If your refund request brings your account past due, a refund cannot be issued.
How many lawsuits does Toyota have?
Since the Toyota recalls, nearly 200 class action lawsuits have been filed in both state and federal courts.
How much is the Toyota class action?
More than 260,000 Toyota drivers are being asked to sign up from Monday to a potential $2 billion lawsuit against the manufacturer. It follows a Federal Court ruling in April that certain versions of the Toyota HiLux, Prado and Fortuner had defective diesel particulate filters.
Is airbag class action Real?
In a decision regarded by the car industry as a victory for common sense, the Supreme Court of NSW has dismissed a civil class action against Volkswagen over potentially faulty Takata airbags that had been replaced during a recall – and which had not been deemed responsible for any fatalities here or overseas.
How many cars are affected by the Takata airbag recall?
100 million vehiclesThe Takata airbag recall is the world's largest automotive recall, affecting an estimated 100 million vehicles globally.
How do I know if my car has airbag recall?
You can check if your vehicle is affected by the Takata Airbag Recalls by viewing the brands below. Selecting a brand will take you to their recall website. Have your VIN number ready. If you are unsure of your vehicle's VIN, you can check for its location by visiting the brand website or via your owner handbook.
How much money did Takata lose?
Takata has lost almost all of its market value from its 2007 peak of 400 billion yen ($3.6 billion).
How serious is the Takata airbag recall?
Overview. Approximately 67 million Takata air bags (priority groups 1-12) have been recalled because these air bags can explode when deployed, causing serious injury or even death. All vehicle owners should: Check for Recalls using your vehicle identification number (VIN).
What is the Takata class action?
The Takata airbag class action alleges the seven carmakers who fitted their vehicles with the potentially deadly safety feature “failed to comply with the merchantable quality guarantee in the Trade Practices Act 1974 or acceptable quality guarantee in the Australian Consumer Law; engaged in misleading or deceptive ...
Is there a class action against Toyota?
Toyota has appealed against a class action ruling which could see more than 260,000 car owners receive damages of about $2bn, but concerns remain about the environmental impact of the faulty diesel particulate filters that caused the problems with some of Australia's most popular vehicles.
Why will recalls affect more cars?
Add to that the fact that any given recall will likely affect more vehicles because automakers are aggressively trying to build more cars with common platforms and parts.
How much did GM pay for the ignition switch recall?
That’s to start: Criminal investigations into delays in serious cases cost much more — GM paid $900 million to settle an investigation into its ignition switch recall; Toyota paid $1.2 billion in its sudden acceleration recalls. Not to mention no automaker wants to be caught dragging its feet on safety.
Why are cars getting more complicated?
Cars are getting ever newer and more complicated parts as automakers strive to reduce weight and achieve better gas mileage. At the same time, car shoppers want better entertainment and safety technology, up to and including autonomous driving features that can take over some vehicle systems.
How long does it take to notify owners of a car repair?
After reporting to NHTSA, the automakers then must notify owners within 60 days. And the rules specifically say that having no fix, or not knowing the cause, are not grounds to delay notification of owners. And even where a cause and fix are known, the automaker must work with suppliers to produce the parts needed to repair what can be millions of vehicles.
What is the editorial department of Cars.com?
Cars.com’s Editorial department is your source for automotive news and reviews. In line with Cars.com’s long-standing ethics policy, editors and reviewers don’t accept gifts or free trips from automakers. The Editorial department is independent of Cars.com’s advertising, sales and sponsored content departments.
What to check before buying a replacement car?
Before buying a replacement vehicle, check its VIN for open recalls so you don’t overpay or end up buying a different problem.
Can you dump a car if you can't wait?
You legally can dump the car if you can’t wait and don’t want to drive it. You should, however, inform prospective buyers (who can find out themselves at the vehicle identification number open recall lookup) and be prepared to take a hit on the price to compensate a buyer who is willing to wait.
What is product recall?
In general, a product recall is a request from a manufacturer to return a product after the discovery of safety issues or product defects that might endanger the consumer or, perhaps ironically, put the maker or seller at risk for legal action.
What is the relationship between class action lawsuits and recalls?
The relationship between recalls and class action lawsuits can be a complicated one. Sometimes they happen completely independent of one another. Other times both tools are used in tandem to force companies to properly right the wrongs that plague the average consumer. So, when you hear about a recall, does that automatically mean ...
Who Has the Power to Issue Recalls Anyway?
Recalls can be issued voluntarily by the manufacturer. Other times, regulatory bodies, such as the Food and Drug Administration (FDA), Consumer Product Safety Commission (CPSC), or National Highway Traffic Safety Administration (NHTSA), will have to force the action.
How Do I Find Out About Recalls for Things I Own?
You can find information on specific types of recalls via the corresponding regulatory body’s website. For example, you can visit the website of the:
How much did the Kia settlement cost in 2020?
In May of 2020, a $758 million settlement was reached to resolve litigation involving a potential defect thought to cause engine fires in certain Hyundai and Kia vehicles that were either part of – or left out of – a series of recalls.
Why are there recalls on Bed Bath and Beyond chairs?
For instance, on October 21, 2020, Bed Bath & Beyond recalled close to 10,000 SALT Lounge Chairs because the frame’s locking mechanism could fail and pose a fall hazard. Anyone who bought the product was encouraged to stop using the chairs and to take them to a Bed Bath & Beyond location for a full refund of the purchase price. Consumers are fully compensated by the recall for the cost of the faulty product, so no further action needs to be taken.
How to return a recalled product?
For most products and vehicles, you will need to take it back to the store where you bought it or to a dealership where they will either allow you to return the product for a full refund or receive free repairs to fix the issue outlined in the recall. There may be other steps to take that are specific to the recall in question, but those will be outlined by the company or agency who issued the recall in the first place. For instance, in the case of recalled drugs, you might be instructed to return the medicine to the pharmacy or safely dispose of it and to speak with your doctor about alternative medications before stopping.
