There is a class-action lawsuit that has reached a settlement over faulty airbags that could affect you.

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Plaintiffs in a class action lawsuit against air bag makers, Takata, have reached a settlement worth $553 MILLION. The settlement will compensate folks who lease or own those vehicles that are affected by the air bag recall. This could be from "providing rental cars to those who are deemed to be at the greatest risk to 'a possible residual distribution payment of up to $500'," according to NPR.

The settlement will  "resolve allegations that the car companies manufactured, distributed or sold vehicles that contain Takata airbags with allegedly defective deflators that, when deployed, could cause the airbag to rupture and expel debris or shrapnel into the vehicle." This, according to Top Class Actions.

So what vehicles are affected by this? Is yours on of the 16 million? According to the article on NPR, these are the manufactures that are affiliated with this settlement, and how much each automaker will pay

  • Toyota: 9.2 million vehicles; $278,500,000

  • BMW: 2.3 million vehicles; $131,000,000

  • Subaru: 2.6 million vehicles; $68,262,257

  • Mazda: 1.7 million vehicles; $75,805,050

The plaintiffs in this case are also planning on pursuing claims against a few more companies that are not listed above, that include Ford and Honda. Nissan has also complied with these settlements, but no word yet on when their settlement claims will become available.

If you feel like your vehicle could be affected by this and want to find out more information, click below.