Section 24-5-13.1-15 - Refund; computation of amount(a) If a refund is tendered under this chapter with respect to a converted motor vehicle that is not a leased converted motor vehicle, the refund must be the full contract price of the converted motor vehicle, including all credits and allowances for any trade-in converted motor vehicle and less a reasonable allowance for use.(b) To determine a reasonable allowance for use under this section, multiply: (1) the total contract price of the converted motor vehicle; by(2) a fraction having as its denominator one hundred thousand (100,000) and having its numerator the number of miles that the converted motor vehicle traveled before the responsible manufacturer or installer accepts the return of the converted motor vehicle.(c) The refund must also include reimbursement for the following incidental costs: (2) The unexpended portion of the registration fee and excise tax that has been prepaid for any calendar year.(3) All finance charges actually expended.(4) The cost of all options added by the authorized dealer.(d) Refunds made under this section shall be made to the buyer and lienholder, if any, as their respective interests appear on the records of ownership.Added by P.L. 91-2022,SEC. 1, eff. 7/1/2022.