Indiana Code 24-5-13-11. Refund; computation of amount
(b) To determine a reasonable allowance for use under this section, multiply:
Terms Used In Indiana Code 24-5-13-11
- buyer: means any person who, for purposes other than resale or sublease, enters into an agreement or contract within Indiana for the transfer, lease, or purchase of a motor vehicle covered under this chapter. See Indiana Code 24-5-13-3
- Contract: A legal written agreement that becomes binding when signed.
- dealer: has the meaning set forth in Indiana Code 24-5-13-3.1
- manufacturer: means any person who is engaged in the business of manufacturing motor vehicles, or, in the case of motor vehicles not manufactured in the United States, any person who is engaged in the business of importing motor vehicles. See Indiana Code 24-5-13-4
- vehicle: means any self-propelled vehicle that:
Indiana Code 24-5-13-5
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(2) a fraction having as its denominator one hundred thousand (100,000) and having as its numerator the number of miles that the vehicle traveled before the manufacturer‘s acceptance of its return.
(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.150-1988, SEC.1. Amended by P.L.24-1989, SEC.27.