What is the maximum individual claim from the Fund?

The maximum individual claim from the Fund is established to be $45,000. This limit is set to provide consumers with a safeguard in cases where they suffer financial loss due to the actions of a registered dealer, such as fraud or misrepresentation. It ensures that consumers can seek restitution up to this amount, thereby providing a layer of protection in the automotive transaction process.

The other amounts listed do not reflect the maximum claim limit set by the governing body, which is specifically designed to address significant financial losses while balancing the fund's sustainability and ability to serve multiple claims. In the event of significant consumer losses, the higher limit enables a more substantial recovery for those affected by a dealer's misconduct.