Sec. 10. (a) This section applies to a
buyback vehicle only at the time of the
initial resale of the buyback vehicle.
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Terms Used In Indiana Code 24-5-13.5-10
- buyback vehicle: means a motor vehicle that has been replaced or repurchased by a manufacturer or a nonresident manufacturer's agent or an authorized dealer, either under this chapter or IC 24-5-13 by judgment, decree, arbitration award, settlement agreement, or voluntary agreement in Indiana or another state, but does not include a motor vehicle that was repurchased pursuant to a guaranteed repurchase or satisfaction program advertised by the manufacturer and was not alleged or found to have a nonconformity as defined in IC 24-5-13-6. See Indiana Code 24-5-13.5-3
- Contract: A legal written agreement that becomes binding when signed.
- dealer: means a person engaged in the business of buying, selling, leasing, or exchanging motor vehicles. See Indiana Code 24-5-13.5-5
- initial resale: means the first time a dealer sells a buyback vehicle to a buyer after it has been repurchased by a manufacturer under this chapter or IC 24-5-13. See Indiana Code 24-5-13.5-5.5
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- manufacturer: has the meaning set forth in IC 24-5-13-4. See Indiana Code 24-5-13.5-6
- nonconformity: has the meaning set forth in IC 24-5-13-6. See Indiana Code 24-5-13.5-8
- warranty: means :
Indiana Code 24-5-13.5-9
(1) The manufacturer provides the same express warranty the manufacturer provided to the original purchaser, except that the term of the warranty need only last for twelve thousand (12,000) miles or twelve (12) months after the date of resale.
(2) The following disclosure language must be conspicuously contained in a contract for the initial resale or lease of a buyback vehicle to a consumer or contained in a form affixed to the contract:
“IMPORTANT
This vehicle was previously sold as new. It was subsequently returned to the manufacturer or authorized dealer in exchange for a replacement vehicle or a refund because it did not conform to the manufacturer’s express warranty and the nonconformity was not cured within a reasonable time as provided by Indiana law.”.
(3) The manufacturer provides the dealer a separate document with a written statement identifying the vehicle conditions that formed the basis for the previous owner’s or lessee’s dissatisfaction and the steps taken to deal with that dissatisfaction in 10-point all capital type.
As added by P.L.65-1992, SEC.3. Amended by P.L.118-1993, SEC.3; P.L.211-2023, SEC.76.
