Used Car Dealers: Update the Buyers Guide
On Nov. 10, 2016, the Federal Trade Commission (FTC) announced final amendments to its Used Car Rule which requires car dealers to display a window sticker, or "Buyers Guide," on used cars offered for sale.
The press release on the FTC's Web site lists the changes to the Rule (formally known as the Used Motor Vehciel Trade Regulation Rule) taking effect January 27, 2017:
See the press release at www.ftc.gov/news-events/press-releases/2016/11/ftc-approves-final-changes-used-car-rule.
The press release on the FTC's Web site lists the changes to the Rule (formally known as the Used Motor Vehciel Trade Regulation Rule) taking effect January 27, 2017:
- changing the description of an "As is" sale;
- placing boxes on the face of the Buyers Guide that dealers can check to indicate whether a vehicle is covered by a third-party warranty and whether a service contract may be available;
- providing a box that dealers can check to indicate that an unexpired manufacturer's warranty applies;
- adding air bags and catalytic converters to the Buyers Guide's list of major defects that may occur in used vehicles;
- adding a statement that directs consumers to obtain a vehicle history report and to check for open recalls. The statement also instructs consumers to visit: www.ftc.gov/usedcars for information on how to obtain a vehicle history report; and visit www.safercar.gov to check for open safety recalls;
- adding a statement, in Spanish, to the English-language Buyers Guide, advising Spanish-speaking consumers to ask for the Buyers Guide in Spanish if the dealer is conducting the sale in Spanish; and
- providing a spanish translation of the statement that dealers may use to obtain a consumer's acknowledgment of receipt of the Buyers Guide.
See the press release at www.ftc.gov/news-events/press-releases/2016/11/ftc-approves-final-changes-used-car-rule.