A lemon law buyback is when the car company buys back the vehicle by reimbursing you the down payment, all monthly payments made, and the most recent year’s registration expense.
A lemon law buyback also requires that the car company pay off the loan if there is one and take back the vehicle. The car company is allowed to deduct a mileage offset from the amount they pay you, and this is calculated using the miles driven between the time of purchase the first documented service visit for the defect that makes the car a lemon. In some cases car companies may also take offsets for accessories added at the time of purchase. In addition, the car company has to pay your attorney’s fees and costs, meaning you don’t have to.
Last but not least, after buying back a lemon the car company has to brand that vehicle’s title so that future consumers are warned of the vehicle’s history.
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