IC 24-5-13 5 Chapter 13 5 Buyback Vehicle - State of Indiana - seattleu 2025

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Sometimes, buybacks are a gesture of goodwill, even if no defect is ultimately found. After buyback, these cars are thoroughly repaired and inspected to meet manufacturer standards before being resold.
A Lemon Law buyback refers to a vehicle that has been declared a lemon under the Lemon Law and is repurchased or bought back by the manufacturer or dealer due to repeated or unresolved defects.
A manufacturer buyback vehicle is a car repurchased by the automaker, usually due to a defect, parts delay, or customer complaint, and then repaired and resold.
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Owners that werent necessarily in the market for a new vehicle may decide to take advantage of a buy-back offer. It will get them in a new version of their vehicle for the same monthly payment or less. Dealers will source inventory from their service customers and make an offer on their current vehicles.
In Indiana, the unauthorized use of a motor vehicle, often referred to as joyriding, is addressed under Indiana Code 35-43-4-2.5, which defines the offense as Unauthorized Control of a Motor Vehicle.
A buyback will increase share prices: Stocks trade in part based on supply and demand, and a cut in the number of outstanding shares often causes a price increase. Therefore, a company could increase its stocks value by limiting supply with a share repurchase.