{"id":1600,"date":"2016-08-17T09:00:29","date_gmt":"2016-08-17T13:00:29","guid":{"rendered":"https:\/\/www.autoraptor.com\/?p=1600"},"modified":"2016-08-17T09:00:29","modified_gmt":"2016-08-17T13:00:29","slug":"stay-compliant-ftc-used-car-rule","status":"publish","type":"post","link":"https:\/\/www.autoraptor.com\/blog\/stay-compliant-ftc-used-car-rule\/","title":{"rendered":"How to Stay Compliant with the FTC Used Car Rule"},"content":{"rendered":"

Do you have a Buyers Guide displayed in the window of each used vehicle on your dealership lot? If you don\u2019t, you could be breaking the FTC Used Car Rule.<\/h2>\n

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Do you sell more than five used vehicles in a 12-month period? If so, there\u2019s an important compliance rule you\u2019ve hopefully been following \u2014 if you haven\u2019t, you could face penalties of $16,000 per violation.<\/p>\n

It\u2019s called the Federal Trade Commission (FTC) Used Car Rule, and it\u2019s been on the books since 1985. There are still plenty of auto dealerships around the country, however, that either don\u2019t know about the rule, or just don\u2019t care enough to comply. In June 2015, an Arkansas auto dealer was ordered to pay $90,000 in civil penalties<\/a> because they failed to follow the FTC Used Car Rule, even after receiving a warning in 2013.<\/p>\n

What is the FTC Used Car Rule?<\/h3>\n

The formal name of the FTC Used Car Rule is the Used Motor Vehicle Trade Regulation Rule. According to the FTC<\/a>, \u201cit requires car dealers to display a window sticker, known as a Buyers Guide, on the used car vehicles they offer for sale.\u201d<\/p>\n

The Buyers Guide should have full and complete details about whether or not your dealership offers a warranty, and if so, what that warranty includes. If you operate in a state that doesn\u2019t allow used cars to be sold \u201cas is,\u201d or without warranties, you have to display an alternative version of the Buyers Guide.<\/p>\n

Currently, the Used Car Rule applies in the District of Columbia, Puerto Rico, Guam, the U.S. Virgin Islands, American Samoa, and every state except Maine and Wisconsin; those states have similar regulations that require the posting of disclosures on used vehicles.<\/p>\n

What should be included in the Buyers Guide to follow the FTC Used Car Rule<\/h3>\n

A fully compliant Buyers Guide isn\u2019t just the law \u2014 it helps consumers make educated and informed decisions about any vehicles they are interested in purchasing. By posting a Buyers Guide, you are showing the people shopping on your lot that you are trustworthy, transparent, and care about helping them make the right choice.<\/p>\n

You can find an example of a\u00a0blank Buyers Guide here<\/a>\u00a0from the FTC, but this is a general list of what you should include:<\/p>\n