When it comes to the context of Florida lemon law
new cars, most of the
times the manufacturer can pay less than what they should have to pay a
consumer. This deduction is usually based on the vehicle’s use and often gets
termed as “Mileage offset.”
It is usually the part of the “buy
back” process that takes place after a potential lemon car owner is successful
with the lemon law case.
In this blog, we will let you know the
process of the buyback as well as the formula used for the mileage offset.
The
process of “Buyback.”
1- You give the car back to the
manufacturer.
2-The manufacturer pays off the car
loan (if any) and takes the car title.
3- The manufacturer reimburses you for
the down payment, monthly payments, collateral charges such as tax, title tag,
etc.
4-The manufacturer receives an offset
to the reimbursement amount for mileage driven before the problem started.
The mileage offset formula:
The mileage offset gets calculated by
multiplying the purchase price with the mileage at the first warranty repair
attempt for the problem that rendered the vehicle as a lemon. Then the
multiplied amount is divided by 120,000.
Bottom
line
We hope the simple statements used in
this blog proved to be a useful read. But it is essential to understand that
even common legal matters can become complicated and stressful. Connect and
talk to an experienced attorney in Lemon Law New Cars in Florida, who can guide
and represent you in court.
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