Sec. 15. (a) If a refund is tendered under this chapter with respect to a
converted motor vehicle that is not a leased converted
motor vehicle, the refund must be the full
contract price of the converted motor vehicle, including all credits and allowances for any trade-in converted motor vehicle and less a reasonable allowance for use.
Ask a consumer protection question, get an answer ASAP!
Thousands of highly rated, verified consumer protection lawyers.
Help with credit card debt, collections, defective products
Get help with bankruptcy, filing complaints, extended warranties & more
Click here to chat with a lawyer about your rights.
Terms Used In Indiana Code 24-5-13.1-15
- buyer: means any person who, for purposes of a personal, noncommercial use, enters into an agreement or contract within Indiana for the purchase of a converted motor vehicle covered under this chapter. See Indiana Code 24-5-13.1-1
- Contract: A legal written agreement that becomes binding when signed.
- converted motor vehicle: means a new motor vehicle that has a conversion. See Indiana Code 24-5-13.1-3
- dealer: has the meaning set forth in Indiana Code 24-5-13.1-4
- installer: means any person who is engaged in the business of:
Indiana Code 24-5-13.1-5
- manufacturer: means :
Indiana Code 24-5-13.1-6
- motor vehicle: means any self-propelled vehicle that:
Indiana Code 24-5-13.1-7
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(1) the total contract price of the converted motor vehicle; by
(2) a fraction having as its denominator one hundred thousand (100,000) and having its numerator the number of miles that the converted motor vehicle traveled before the responsible manufacturer or installer accepts the return of the converted motor vehicle.
(c) The refund must also include reimbursement for the following incidental costs:
(1) All sales tax.
(2) The unexpended portion of the registration fee and excise tax that has been prepaid for any calendar year.
(3) All finance charges actually expended.
(4) The cost of all options added by the authorized dealer.
(d) Refunds made under this section shall be made to the buyer and lienholder, if any, as their respective interests appear on the records of ownership.
As added by P.L.91-2022, SEC.1.
