Indiana § 24-5-13-11.5 Refund; leased motor vehicle; computation of amount

Indiana Statutes

§ 24-5-13-11.5 — Refund; leased motor vehicle; computation of amount

Indiana § 24-5-13-11.5

Art. 5CONSUMER SALES

Ch. 13Motor Vehicle Protection

This text of Indiana § 24-5-13-11.5 (Refund; leased motor vehicle; computation of amount) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 24-5-13-11.5 (2026).

Text

5.

(a)If a refund is tendered under this chapter with respect to a leased motor vehicle, the refund shall be made as follows:

(1)The lessee shall receive all deposit and lease payments paid by the lessee to the lessor, including all credits and allowances for any trade-in vehicles, less a reasonable allowance for use.

(2)The lessor shall receive:

(A)the lessor's purchase cost, including freight and accessories;

(B)any fee paid to another to obtain the lease;

(C)any insurance premiums or other costs expended by the lessor for the benefit of the lessee;

(D)sales tax paid by the lessor; and

(E)five percent (5%) of the amount described in subdivision

(2)(A); less the total of all deposit and lease payments paid by the lessee to the lessor, including all credits and allowances for any t

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5. (a) If a refund is tendered under this
chapter with respect to a leased motor vehicle, the refund shall be made
as follows:
(1) The lessee shall receive all deposit and lease payments paid by
the lessee to the lessor, including all credits and allowances for
any trade-in vehicles, less a reasonable allowance for use.
(2) The lessor shall receive:
(A) the lessor's purchase cost, including freight and accessories;
(B) any fee paid to another to obtain the lease;
(C) any insurance premiums or other costs expended by the
lessor for the benefit of the lessee;
(D) sales tax paid by the lessor; and
(E) five percent (5%) of the amount described in subdivision
(2)(A);
less the total of all deposit and lease payments paid by the lessee to the
lessor, including all credits and allowances for any trade-in vehicle.
(b) To determine a reasonable allowance for use under this section,
multiply:
(1) the total lease obligation of the lessee at the inception of the
lease; by
(2) a fraction having as its denominator one hundred thousand
(100,000) and as its numerator the number of miles that the
vehicle traveled before the lessor's acceptance of its return.