Krutman & Eustace
(609)890-2525
2525 Nottingham Way
Hamilton, New Jersey 08619
(609)890-2525
2525 Nottingham Way
Hamilton, New Jersey 08619
Michael Krutman
Refund for a Lemon
Refund for a Lemon
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The refund for a vehicle is calculated by taking the full purchase price of the vehicle, and then deducting a "reasonable allowance for vehicle use." In addition, the refund may include the money you spent for:
- Sales tax, license, and registration fees, finance charges, and any similar additional costs
- Options or modifications added by the manufacturer or its authorized dealer within 30 days after delivery date
- Trade-in value
“Reasonable allowance for vehicle use," is understood as the purchase price multiplied by the mileage (odometer reading when first brought to the dealer or manufacturer for repair of the defect) divided by 100,000 miles.
For example if the purchase price of your vehicle was $15,000 and there are 10,000 miles on the odometer:
15,000 x 10,000 miles = 150,000,000
1500,000,000 divided by 100,000 = $1500
The reasonable allowance for vehicle use here would be $1500. It should be noted that while the manufacturer may offer to replace the vehicle, you do not have to accept their offer, opting instead for a refund.