A cash and keep settlement in lemon law parlance is an agreement between the vehicle manufacturer and the consumer where the consumer agrees to settle certain lemon law claims against the vehicle manufacturer in exchange for cash and the consumer keeping the vehicle, hence the term “cash and keep.”
The amount of cash provided by the vehicle manufacturer depends on various factors. One of the factors is the actual vehicle manufacturer as some vehicle manufacturers are more amenable to cash and keep settlements and larger amounts than others. The other factor is the vehicle’s non-conformities or defects. If the non-conformities or defects affect the safety of the vehicle in some manner, one would expect a larger amount than if the defects are more cosmetic. The third factor is whether a consumer’s attorney if the consumer’s hired an attorney has the negotiation skills to go to bat for the consumer.
Whether a consumer should sign a cash and keep settlement is left to the consumer and their attorney, assuming the consumer hired an attorney; and ultimately is up to the consumer to accept or reject any offer made by the vehicle manufacturer. One of the reasons the consumer should hire a lemon law attorney in a lemon law matter is because a knowledgeable lemon law attorney would discuss with the consumer the pros and cons of a cash and keep settlement and would discuss any options the consumer may have. The other reason is that hiring a lemon law attorney should not cost the consumer anything.
Luis Aguirre is a lemon law attorney who has successfully negotiated cash and keep settlements and vehicle repurchases, also known as buybacks and has litigated lemon law matters in court, including alleged vehicle dealership misrepresentations and alleged vehicle dealership fraud.
Luis Aguirre California Lemon Law Attorney 26060 Acero Suite 111
Mission Viejo, CA 92691 Telephone: 949.342.6199.