[NkCO19]

For those of you that have gotten trade-in payouts, what amount was used as the purchase price of the original Tucson in the “purchase price of Tucson minus trade-in/sale price of Tucson” part of the equation? I’m trying to determine ours based on the attached sales agreement to calculate our potential payout, realizing there are other factors that impact it too. Is the purchase price the $24,995.00 listed as the selling price, or would it be the $24,995.00 selling price minus the $2,500 rebate listed at the bottom=$22,495.00?

 

[pmark]

$24,000 but Hyundai's lawyers are going to do their own calculations so don't worry too much about it. Just make sure you submit the paperwork.

 

[Leeroy]

Anyone know if the Hyundai Dealer Rebate Card issued by Sunrise Bank, for repair visits claims can be used at bank to withdraw cash? The telephone contact says it can onlt be used for gas and dealer purchases but some forumposters
say that it worked at ATM or bank teller for up to $1000 withdrawal which is it?

 

[Leeroy]

Anyone know if the Hyundai Dealer Rebate Card issued by Sunrise Bank, for repair visits claims can be used at bank to withdraw cash? The telephone contact says it can onlt be used for gas and dealer purchases but some forumposters
say that it worked at ATM or bank teller for up to $1000 withdrawal which is it?

Answered my own question. Card worked for gas by taking it inside as a debit card not credit at the pump. Also used it at dealer for an early oil change on new Sonata. Not covered by 3 year free offer,due to too early. Plan is to use the balance on new tires at the dealer for other owned vehicle. Like the trade in deal, little hassle for real money. Hyundai is a great company that makes good cars at more than fair “value" The legal mumbo jumbo made the payments needlessly complicated but worth the pain and time. New Sonata SEL is a great car!

 

[16Tucson]

I submitted a trade-in claim in July and received a check today from Sunshine Bank. I created an account with Fedex, so I got an email notification from them. Hyundai didn't send anything. No explanation of the amount, although it was $3k more than I expected.

 

[Leeroy]

I submitted a trade-in claim in July and received a check today from Sunshine Bank. I created an account with Fedex, so I got an email notification from them. Hyundai didn't send anything. No explanation of the amount, although it was $3k more than I expected.

Great news. My trade in settlement was also more than my estimate, As discussed on this forum, they apparently started with the top line on your sales invoice rather than the net price after rebates. Any rebates were treated as your money such as a trade or down payment which was not clear to me in the legal ruling, so Hyundai used the top line price that resulted in the bigger check figure when multiplied times your individual percentage factor per the claim form calculation method . The final figure was very much in the class member’s favor with this interpretation in one person’s opinion. The Capstone Lawyers crafted one of the best settlements I have seen after over 45 years with different claims.
When you add your trade in value on the claim vehicleto all the settlement funds you received it approached or exceeded what you paid for the vehicle. Another way to look at the deal was it paid for most of you new vehicle if you traded for a comparable hyundai model as I did. Good health to you and yours in our current human crisis.

 

[yojimbo]

I finally received payment yesterday. The settlement office called five weeks ago to ask my preferred method: I said card, so of course they sent a check. A long wait, given my trade documentation was begun in February, completed in July, and approved in October. Like the others above, my amount too must have been calculated without rebates or discounts, including a 20% discount applied for being a VW dieselgater, so while the process was long and error-ridden I am pleased with the final outcome.

Sent from my SM-G965U using Tapatalk

 

[Kokusho]

I received a call on Monday 12/7/20 telling me that the claim had been approved, the amount, and that they will be sending a check!

All I can say is, if you haven't heard anything reach out to Capstone. I submitted the claim Sept 23, 2020 and hadn't heard anything about an approval. Technically that puts them in breach of the settlement's timelines, so last week I sent an email to Capstone they said they would reach out to Hyundai. What do you know Hyundai responded pretty quick to that! Now its just a waiting game for the check to come in.

 

[jtech1]

Has anyone filed an appeal of their settlement value? Is it just asking the same people at Hyundai who made the first decision to reconsider, or is there a REAL third party that will evaluate the info?

I got my original check for settlement, but am still waiting for the card for service visits $. Anyone still waiting on anything they filed more than 8 months ago or is mine most likely lost?

 

[pmark]

Has anyone filed an appeal of their settlement value? Is it just asking the same people at Hyundai who made the first decision to reconsider, or is there a REAL third party that will evaluate the info?

I got my original check for settlement, but am still waiting for the card for service visits $. Anyone still waiting on anything they filed more than 8 months ago or is mine most likely lost?

I appealed and their legal department reviewed it again (it wasn't a third party). They did say that I would get my expected amount and It was all over email. This was back in Oct and im still waiting for the check but I have the rewarded amount in writing.

 

[jcarbs]

Traded in our 2016 in December and submitted a claim for the trade-in payout. Was told that since we never explicitly complained about the DCT that we didn't qualify. Frustrating that we got a lower trade in value because of the known issues on the 2016, but Hyundai doesn't want to do anything. Makes me wonder, when I go to replace my other Hyundai's, if I will stay with their brand or look elsewhere.

 

[patp811#yahoo.com]

Traded in our 2016 in December and submitted a claim for the trade-in payout. Was told that since we never explicitly complained about the DCT that we didn't qualify. Frustrating that we got a lower trade in value because of the known issues on the 2016, but Hyundai doesn't want to do anything. Makes me wonder, when I go to replace my other Hyundai's, if I will stay with their brand or look elsewhere.

When you submitted your claim did you have the required 2 service visits about the DCT?You would think that would count as your complaints about it.

 

[patp811#yahoo.com]

Has anyone filed an appeal of their settlement value? Is it just asking the same people at Hyundai who made the first decision to reconsider, or is there a REAL third party that will evaluate the info?

I got my original check for settlement, but am still waiting for the card for service visits $. Anyone still waiting on anything they filed more than 8 months ago or is mine most likely lost?

I went thru the BBB Hyundai Arbitration when I was having issues with getting my claim approved. I think appeals are supposed to go thru that process. I found this on the Website

If you would like to arbitrate your dispute against Hyundai, please call BBB National Programs at
1-800-246-2808.

 

[jcarbs]

Thanks for the info. After my complaint they asked for further information and I'm getting it to them. If they refuse, I'll use the information you provided.

 

[Kokusho]

Traded in our 2016 in December and submitted a claim for the trade-in payout. Was told that since we never explicitly complained about the DCT that we didn't qualify. Frustrating that we got a lower trade in value because of the known issues on the 2016, but Hyundai doesn't want to do anything. Makes me wonder, when I go to replace my other Hyundai's, if I will stay with their brand or look elsewhere.

They do offer the chance to submit an affidavit that you experienced issues. Where you one of the lucky ones that didn't have any major transmission visits? I had to get the transmission replaced twice, the second one was the deciding factor for me.

Thanks for the info. After my complaint they asked for further information and I'm getting it to them. If they refuse, I'll use the information you provided.

Another option is reaching out to Capstone. I had good results from their pressure for mine. Of course I'm still waiting on the actual check though... It was approved a couple months ago, so I'll be reaching out to them at the end of the month if I don't see it. I figure the more pressure on them the better.

 

[jcarbs]

We didn't have major issues with the vehicle. Had all the recalls done, and my wife would complain about the stuttering every once and awhile. Because of her work, she would rather drive it than have it sit at the dealer. We finally outgrew the vehicle because of a need to carry at least 3 car seats. What frustrates me is that the trade in on it was ridiculous because of the "known DCT issues." We'll see how they handle the case. Do you have the Capstone info or is it somewhere in this forum? Thanks for the help.

 

[Kokusho]

We didn't have major issues with the vehicle. Had all the recalls done, and my wife would complain about the stuttering every once and awhile. Because of her work, she would rather drive it than have it sit at the dealer. We finally outgrew the vehicle because of a need to carry at least 3 car seats. What frustrates me is that the trade in on it was ridiculous because of the "known DCT issues." We'll see how they handle the case. Do you have the Capstone info or is it somewhere in this forum? Thanks for the help.

I just went through their contact us form on their site Capstone Law APC

 

[patp811#yahoo.com]

Does anyone know if we are obligated to claim this on our taxes as income? Some articles I have read said yes. But they never asked for our SS number and I didnt get a 1099. And did Hyundai report it to the IRS? Just curious what people think...

 

[Kokusho]

Does anyone know if we are obligated to claim this on our taxes as income? Some articles I have read said yes. But they never asked for our SS number and I didnt get a 1099. And did Hyundai report it to the IRS? Just curious what people think...

From what I recall, if no "physical harm" is involved then it is considered taxable as income. You make a good point though. They didn't collect the required information to report it, which means we will not get any tax form of any kind. Just be careful since that doesn't mean it can't be tracked. When in doubt ask a tax accountant. Many of them are competing with TurboTax so they offer guarantees to beat and/or are free for the consultation.


On a side note, how long are you guys seeing between an approved claim to the check coming in the mail?

 

[patp811#yahoo.com]

From what I recall, if no "physical harm" is involved then it is considered taxable as income. You make a good point though. They didn't collect the required information to report it, which means we will not get any tax form of any kind. Just be careful since that doesn't mean it can't be tracked. When in doubt ask a tax accountant. Many of them are competing with TurboTax so they offer guarantees to beat and/or are free for the consultation.


On a side note, how long are you guys seeing between an approved claim to the check coming in the mail?

I think it took about 6 weeks for me to get my check after the claim was approved.