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I was wondering during a lemon law or a manufacturer replacement Do you have to talk with your lien holder bank or does the dealer or manufacturer handle that? Thanks!
I was wondering during a lemon law or a manufacturer replacement Do you have to talk with your lien holder bank or does the dealer or manufacturer handle that? Thanks!
Call your lien holder and ask...I'm assuming the manufacturer pays off your loan on the vehicle being turned in and you finance the new one...but this is just a guess.
You need to talk to the manufacturer first - probably via the dealer - to work out the details of returning the car, but the bank would need to be in on the loop.
Your first step should be to familiarize yourself with the lemon laws of your state, though. They're generally pretty specific.
Both? They don’t give you your money back and leave you with the car or the title. If you physically hold the title and have a lien stamped on it then they’ll insist on a payoff number from the bank, if not I’m sure you provide them the payoff number and financial institution and they send the balance of the loan and you get the rest (if any.)
A lemon law transaction is no different than an insurance total or selling your car to a dealer; only instead of the dealer the manufacturer is buying it back from you.
I'm guessing it's a Fiat/Chrysler/Dodge/Jeep product.
It's amazing how many Fiats are buy backs...at least around here.
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