Skip to main content
Find a Lawyer

North Dakota Century Code Title 51. Sales and Exchanges § 51-07-18.1. Refunds for leased passenger motor vehicles

Current as of January 01, 2024 | Updated by Findlaw Staff

In any case in which a refund is tendered by a manufacturer for a leased motor vehicle under section 51-07-18, the refund and rights of the motor vehicle lessor, lessee, and manufacturer are as follows:

1. The manufacturer shall provide to the lessee the sum of all payments previously paid to the motor vehicle lessor by the lessee less a reasonable allowance for the consumer's use of the vehicle. Payments include all cash payments, security deposits, and trade-in allowance, if any, tendered by the lessee to the motor vehicle lessor under the lease agreement.

2. The manufacturer shall provide to the motor vehicle lessor the sum of the following:

a. The lessor's actual purchase cost, less payments made by the lessee;

b. The freight cost, if applicable;

c. The cost for dealer or manufacturer installed accessories, if applicable; and

d. An amount equal to five percent of the lessor's actual purchase cost as provided in subdivision a. The amount in this subdivision is in lieu of any early termination costs or penalties described in the lease agreement.

3. Upon return of the passenger motor vehicle, the consumer's lease agreement with the lessor is terminated and no penalty for early termination may be assessed.

4. Any refund to be paid to the motor vehicle lessor must be made to the lessor and lienholder, if any, as their interests may appear.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - North Dakota Century Code Title 51. Sales and Exchanges § 51-07-18.1. Refunds for leased passenger motor vehicles - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-51-sales-and-exchanges/nd-cent-code-sect-51-07-18-1/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard