P0340 - Camshaft position sensor

Hi,
My Sonata(99) has check engine on and off with P0340 code. The car runs fine. It gets the same mileage.
Camshaft position sensor "A" (bank 1 or single sensor) malfuction.
What is it?
Is it covered by the warranty? Should I take care of it immediately or could I delay resolving this?
In fact, I have been ignoring this about two months now.
BTW, for the past three or four years, I haven't had check engine on this car.
Thanks, Jay
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There are two main causes for the P0340 code:
1. The camshaft position sensor has failed. 5/60 warranty only. No longer covered.
2. The camshaft is out of time. If you're the original owner, this is possibly covered under the 10/100 warranty, depending on what caused the problem, and, if it's the timing belt, whether the timing belt is more than 4 years/60k miles old. Chances are, if your camshaft is out of time, it was caused by improper timing belt installation (the responsibility of the installing repair facility-- not covered by the factory warranty), or the timing belt is old.
The vehicle will run almost normally if the camshaft sensor has failed. But, if something else has caused the code, the possibility remains that things could get worse.
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