Common use of New York Clause in Contracts

New York. Section 198b of New York General Business Law requires an automobile dealer to provide a warranty covering certain classes of used motor Vehicles as follows: Used Vehicles with 36,000 miles or less at the time of sale Provides Coverage for 90 days or 4,000 miles, whichever occurs first. Used Vehicles with 36,000 miles but less than 80,000 miles at the time of the sale Provides Coverage for 60 days or 3,000 miles, whichever occurs first. Used Vehicles with 80,000 miles or more but no more than 100,000 miles at the time of sale Provides Coverage for 30 days or 1,000 miles, whichever occurs first. The Vehicle You have purchased may be covered by this law. If so, the following is added to this Contract: In addition to the dealer warranty required by this law, You have elected to purchase this Contract, which may provide You with additional protection during the dealer warranty period and provides protection after the dealer warranty has expired. You have been charged separately only for this Contract. The required dealer warranty is provided free of charge. Furthermore, the Definitions, Coverages, and Exclusions stated in this Contract apply only to this Contract and are not the terms of the required dealer warranty. (60) days or a claim has been filed, We will refund an amount of the Contract charge according to the pro-rata method reflecting the greater of the days in force or the miles driven based on the term of the plan and the date coverage begins less an administration fee of twenty-five dollars ($25.00) or 10% of the pro-rata refund amount, whichever is less. In the event of cancellation, the Lienholder, if any, will be named on a cancellation refund check as their interest may appear.