The Takata airbag recall is the largest recall in American automotive history. It impacted more than 15 million drivers.
Automakers who sold cars with those airbags have reached a deal to pay more than $553M up to $500 per car owner.
So how do you get your money?
2 Wants To Know's Ben Briscoe broke down the steps you need to take right now.
You need to just keep checking your mail box.
Once the judge approves the settlement, they are going to send out notices to everyone involved.
The money is not just free game to use on whatever you want, it's supposed to be to help you get your car fixed.
Here's exactly what you could get:
- Payments of up to $500 apiece.
- Free rental car for use while awaiting repairs.
- Reimbursement of reasonable expenses, including transportation, towing and lost wages or childcare costs as a result of the recall.
However, not every driver with a Takata airbag will be paid. Right now only Toyota, BMW, Mazda and Subaru have signed on to the settlement. Ford, GM, Honda and Nissan have not.
Now, if you have a new car...you may think you're in the clear here. However, the government is allowing new cars to be sold with defective Takata airbags. The reason is because the bags breakdown over time...not at the get go.
So if you have a 2016, you have until 2022 before the bag might hurt you.
The government is requiring all Takata air bags in new cars be recalled by 2018.
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