Indiana § 24-5-13-11.5 - Refund; leased motor vehicle; computation of amount
Full text of Indiana Indiana Code § 24-5-13-11.5 — Refund; leased motor vehicle; computation of amount, with citation guidance and answers to common questions.
§ 24-5-13-11.5. Refund; leased motor vehicle; computation of amount
Sec. 11.5. (a) If a refund is tendered under this chapter with respect to a leased motor vehicle, the refund shall be made as follows:
(1) The lessee shall receive all deposit and lease payments paid by the lessee to the lessor, including all credits and allowances for any trade-in vehicles, less a reasonable allowance for use.
(2) The lessor shall receive:
(A) the lessor's purchase cost, including freight and accessories;
(B) any fee paid to another to obtain the lease;
(C) any insurance premiums or other costs expended by the lessor for the benefit of the lessee;
(D) sales tax paid by the lessor; and
(E) five percent (5%) of the amount described in subdivision (2)(A);
less the total of all deposit and lease payments paid by the lessee to the lessor, including all credits and allowances for any trade-in vehicle.
(b) To determine a reasonable allowance for use under this section, multiply:
(1) the total lease obligation of the lessee at the inception of the lease; by
(2) a fraction having as its denominator one hundred thousand (100,000) and as its numerator the number of miles that the vehicle traveled before the lessor's acceptance of its return.
As added by P.L.24-1989, SEC.28.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 24-5-13-11.5
What does Indiana Code § 24-5-13-11.5 cover?
Section 24-5-13-11.5 ("Refund; leased motor vehicle; computation of amount") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 24-5-13-11.5?
A common citation format is "Indiana Code § 24-5-13-11.5" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 24-5-13-11.5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.