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.
To know more about Lemon Law Washington please visit our website: allenstewart.com