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.
(b) To determine a reasonable allowance for use under this section, multiply:
(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.
Structure Indiana Code
Chapter 13.1. Converted Motor Vehicle Protection
24-5-13.1-3. "Converted Motor Vehicle"
24-5-13.1-9. "Responsible Manufacturer or Installer"
24-5-13.1-10. "Term of Protection"
24-5-13.1-12. Repair of Nonconformities
24-5-13.1-13. Notification of a Claim; Responsible Manufacturer's or Installer's Disclosure
24-5-13.1-14. Return of Vehicle Upon Failure to Correct Nonconformity; Refund; Replacement
24-5-13.1-15. Refund; Computation of Amount
24-5-13.1-16. Refund; Leased Motor Vehicle; Computation of Amount
24-5-13.1-17. Replacement Vehicle
24-5-13.1-18. Reimbursement for Towing and Rental Costs
24-5-13.1-19. Retention of Vehicle Pending Replacement or Refund
24-5-13.1-21. Refusal to Diagnose or Repair; Written Repair Orders
24-5-13.1-22. Affirmative Defenses
24-5-13.1-23. Informal Procedures Established by a Responsible Manufacturer or Installer
24-5-13.1-24. Additional Remedies
24-5-13.1-25. Civil Enforcement Actions
24-5-13.1-26. Costs and Expenses in Recovery Actions