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The buyer and seller have asymmetric information. Hence, the buyer will demand a deep discount on the car because of the possibility it is a *lemon*.
2007-02-05 07:15:06 · 11 answers · asked by Ron 1 in Education & Reference ➔ Words & Wordplay
In this case, a lemon is a vehicle that continues to have a defect that substantially impairs its use, value, or safety. Generally, if the car has been repaired 4 or more times for the same Defect within the Warranty Period and the Defect has not been fixed, the car qualifies as a Lemon.
2007-02-05 07:20:08 · answer #1 · answered by Jessi11111 5 · 4⤊ 0⤋
Lemon has long been used to describe a car that turns out to have a lot of problems with it which don't become clear until after you buy it. A new car or a used car can be a lemon.
That's an odd use of asymmetric by the way. Nowadays many people buy certified used cars and that takes care of the lemon problem pretty much. It's usually better to use a simple word when you can. So "different" information would be a better choice. Asymmetric has undertones of architecture and art built into it.
2007-02-05 07:39:00 · answer #2 · answered by Anonymous · 1⤊ 0⤋
What is a Lemon?
A vehicle that continues to have a defect that substantially impairs its use, value, or safety. Generally, if the car has been repaired 4 or more times for the same Defect within the Warranty Period and the Defect has not been fixed, the car qualifies as a Lemon. All States differ so you should consult the Lemon Law Summary and the State Statutes for your particular State. Note that the warranty period may or may not coincide with the Manufacturer's Warranty.
2007-02-05 08:06:59 · answer #3 · answered by sknymnie 6 · 0⤊ 0⤋
This would mean that the car has problems. A lemon is a product that has defects from the moment it is bought, when no defects should be there. Like a new car that has the transmission go out, then the electrical system, then something else, etc...
2007-02-05 07:22:00 · answer #4 · answered by trish1380 1 · 1⤊ 0⤋
Lemon, in this case, is being used as an old slang word meaning the car has problems or constantly has problems. Generally, a lemon is something that just never works like it is supposed to.
2007-02-05 07:21:01 · answer #5 · answered by The Education Doctor 3 · 2⤊ 0⤋
The car may have problems that the seller doesnt want to admit....its a POS....
2007-02-05 07:49:57 · answer #6 · answered by Christine T 3 · 0⤊ 0⤋
a lemon is a vehicle purchased, and immediately taken back 3x for repair, and still a pile of crap
2007-02-05 08:30:19 · answer #7 · answered by lh 1 · 0⤊ 0⤋
Car doesn't work well....he'll probably be able to drive 2 miles before it starts acting up
2007-02-05 07:22:30 · answer #8 · answered by trinigal77 2 · 0⤊ 0⤋
piece of Junk
2007-02-05 07:22:30 · answer #9 · answered by Baby #1 born August 2009 6 · 0⤊ 0⤋
It's a piece of garbage!
2007-02-05 07:19:19 · answer #10 · answered by Proud Mommy 2 · 2⤊ 0⤋