Clock is ticking for Hyundai drivers to claim $650 payment as carmaker agrees to pay $145 million over ‘design flaws’

TIME is running out for Hyundai drivers to claim a $650 share of a $145 million pot as the carmaker settled a lawsuit over a key “design flaw”.

The firm has been battling a class action suit in federal court over allegedly failing to provide proper security systems on some of its cars.

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The basis of the suit is the claim that a number of Hyundai models contained faults that made them more at risk of theft and damage.

This allegedly included the failure to install anti-theft devices like engine immobilizers.

As a result of the settlement, the firm has agreed to establish a Common Fund to pay out claims for losses sustained as a result of the flaw.

Payments could be sent out for financial loss due to either theft or attempted theft as long as they meet the criteria set out in the compensation scheme.

The fund will contain at least $80 million in potential compensation but could go as high as $145 million depending on the number of successful claims.

Those affected could claim up to the full value of their vehicle at the time it was stolen .

However, you could still be set for a payout even if your motor wasn’t subject to a theft.

Anyone who owns one of the vehicles affected by the alleged flaw can access a number of payments to compensate for the inconvenience.

Drivers can take their car to a Hyundai dealer for an update to any faulty software, with the offer of up to $250 to reimburse loss of earnings or childcare costs.

If your vehicle is not eligible for the software upgrade, you can claim as much as $300 to cover the cost of a steering lock , alarm or other anti-theft system, dropping to $250 if already issued with a free steering lock from the manufacturer.

How can I make a claim?

In order to receive a payment under the compensation scheme, you need to join the class action suit.

It is believed that the issue could be present in a selection of Hyundai models made between 2011 and 2022.

You can find a full list of the models potentially affected and submit a claim form at https://www.hyundaitheftsettlement.com/.

All claims must be submitted before January 11 of next year.

However, it is important to note that the deadline to exclude yourself from the class action or to object has passed.

This means that, if you submit a claim, you will not be able to initiate or continue any separate suit against Hyundai.