Calculating A Buy Back
Calculating a Lemon Law Buy Back in California
Determining the Price to Buy Back Purchased Products
Sage Law Group, LLP is well-versed in Los Angeles Lemon Law and can determine what an appropriate buyback price would be for your particular vehicle. We can apply our knowledge and experience in past claims to your situation, helping you seek a favorable outcome so that you can move on with your life.
When a dealer or manufacturer buys back your purchased vehicle or product under the Lemon Law, it must refund you the following:
- Your down-payment and any payments that you made for the vehicle (including the finance charges, if any).
- Any outstanding loan you have related to the purchase
- Any collateral charges for things like registration, repair costs, towing charges, replacement or rental vehicle costs, and even lost revenue caused by a small business’s inability to service its clients
When buying back leased vehicles, the dealer or manufacturer must refund you:
- Your down payment or payment due at signing
- All of your payments made on the lease
- Any amount of money necessary to terminate your lease including early termination charges
- Collateral charges must also be refunded
The calculation of leased and purchased vehicle buybacks is contained in California Civil Code Section 1793.2(d)(2)(A), (B) and (C).
Foregoing a Buy Back for a Replacement Vehicle
Instead of buying back your defective vehicle, a dealer or manufacturer may give you an identical replacement vehicle.
The replacement vehicle will include:
- Service contract identical to your prior one, if applicable
- Any dealer options that were included in the original purchase/lease
- Reimbursement for collateral expenses like temporary rental car costs, towing fees, and repair costs
Regardless of whether the responsible party is buying back or replacing your vehicle, Sage Law Group, LLP can be there to facilitate your claim and help you seek the appropriate compensation that you deserve.