Cash and Keep Offers: What You Should Know
Does your brand-new car keep breaking down, with no end in sight to all those dreadful repair bills? Whether you’ve paid for out-of-pocket repair costs, towing fees, rental cars, or other expenses, it is important to know that you can recover your lost income and come out on top, thanks to California’s lemon law. A qualified CA lemon law attorney can help you understand more about your claim, if you qualify for filing a claim, and can inform you of your settlement options.
A cash-and-keep offer is one of the most common settlement options for a lemon law case. This lemon law settlement amount combines both cash and your vehicle. However, before you jump on any offers, it is vital to understand whether this is the best choice for you and if it is worth pursuing other settlement options.
This article covers how cash and keep offers differ from other settlement offers and if a cash and keep settlement lemon law claim is even worth the time.
Cash and Keep Offers
To understand cash and keep offers in California, you should understand more about California’s lemon law. Under state law, customers are protected from defective vehicles they buy while still under warranty. This lemon law states an auto manufacturer should pay to reimburse the original purchase price, replace the vehicle, or give the owner a cash and keep offer if they (the manufacturer) are found liable under the lemon law.
To meet the criteria for your lemon law, your car must:
- Still under the manufacturer’s warranty
- Have had previous attempts to fix it
- Have a defect that could potentially injure someone while driving on the road or even cause death or serious bodily harm
- Have been in the auto repair shop for 30 days
If you meet all of these criteria, it is time to look for a lemon law lawyer Los Angeles and begin your settlement claim.
Other California Lemon Law Settlements
Now that you know a bit more about lemon laws, it is important to know how you can possibly gain your money back. Lemon law settlement options include:
- Replacement of Vehicle: You will be offered a brand-new vehicle to replace your defective car. However, this vehicle will be by the same manufacturer. If you no longer trust your manufacturer, this might not be the best option for you.
- Pay Original Price: You can refund the original purchase price of the vehicle (including your downpayment, any amount given in loans, extra payments, and more) but will not receive the full amount depending on the depreciated value of the vehicle. Things that could affect this settlement amount include mileage, failing to do other routine maintenance on your car, and other factors.
- Extended Warranty: Some manufacturers might offer to extend the warranty on your vehicle. However, this might not include reimbursement for out-of-pocket costs now and in the future.
Is a Cash and Keep Settlement Worth It?
If you can live with the defect and do not mind driving a vehicle that must be repaired, you might settle for a cash and keep offer. In addition, if you have out-of-pocket expenses like rental car fees, towing costs, and lost income you want to be covered, you might only receive a one-time settlement for this as opposed to continued help later on.
Speaking with lemon law attorneys in Los Angeles can be a great way to explore your settlement options and know if a cash and keep offer is right for you. At Kaloustian Law Group, we want our clients to feel confident knowing they have made the right choice for their settlement. Call us to schedule a free consultation today and explore your best settlement options.
