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buyback: lemon: State "lemon laws" often require that, if vendor attempts to repair a problem under a new-car warranty repeatedly fail, the manufacturer or dealer buy back or replace the vehicle. Depending on the jurisdiction, this may be required to be disclosed to subsequent owners of a problem car. wrecked: WRK crushed baled
Lemon law protection arises under state law, with every U.S. state and the District of Columbia having its own lemon law. [1] Although the exact criteria vary by state, new vehicle lemon laws require that an auto manufacturer repurchase a vehicle that has a significant defect that the manufacturer is unable to repair within a reasonable amount of time. [2]
Lemon laws primarily serve to force manufacturers to buy back defective vehicles or exchange them. Depending on the jurisdiction, a process similar to vehicle title branding may also be used to warn subsequent purchasers of the history of a problem vehicle. While this portion of a vehicle's history is usually not retained with the title when ...
Sometimes, signing over a car title can be more difficult, especially if the vehicle belongs to deceased owners or there's a lien on the vehicle. Here are a few unique situations: Signing Over a ...
Upon paying the claim, the insurer may offer to return the vehicle to the owner as an insurance buy-back, in which case the owner is responsible for having the repairs made and having the car inspected by a State-designated facility. Depending on the state, this inspection may remove the salvage brand from the vehicle's title. [8]
Car title loans come in a couple of different varieties. Some are single-payment loans, meaning the borrower must pay the full amount of the loan plus the interest rate fee within a month or so.
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