{"id":3586,"date":"2018-04-11T09:00:58","date_gmt":"2018-04-11T13:00:58","guid":{"rendered":"https:\/\/www.autoraptor.com\/?p=3586"},"modified":"2024-10-14T12:25:37","modified_gmt":"2024-10-14T16:25:37","slug":"how-to-follow-ftc-buyers-guide-rules-to-avoid-fines-at-your-dealership","status":"publish","type":"post","link":"https:\/\/www.autoraptor.com\/blog\/how-to-follow-ftc-buyers-guide-rules-to-avoid-fines-at-your-dealership\/","title":{"rendered":"How to Follow FTC Buyer’s Guide Rules to Avoid Fines at Your Dealership"},"content":{"rendered":"

\"ftc<\/h2>\n

Unless you want to risk massive fines, every sales rep in your dealership needs to understand the FTC Buyer’s Guide.<\/h2>\n

When a customer buys a pre-owned vehicle from your lot, the Used Car Rule requires you to give them a copy of the FTC Buyer’s Guide.<\/p>\n

The Used Car Rule has been a mandatory car dealership regulation since 1985. The rule states that any dealer that sells more than five units in a year must not only display the FTC Buyer’s Guide<\/a> form but also provide a copy to the consumer at the time of purchase.\"ftc<\/p>\n

The FTC Buyer’s Guide was created to help consumers make an educated decision by giving them essential purchasing and warranty information.<\/h3>\n

Every ten years since 1992 the Federal Trade Commission has followed a regulatory review process to make sure the guides and rules maintain their effectiveness in protecting consumers. The FTC finalized the most recent changes to the guide on January 27, 2017. By January 28, 2018, all dealers were required to stop using the outdated FTC Buyer’s Guide and replace them with the new, revised version<\/a>. Maine and Wisconsin are the only states that don’t have to comply with the Used Car rule. They have their own set of similar state regulations that require dealers to post disclosures on vehicles for sale.<\/p>\n

The revised FTC Buyer’s Guide may not look different, but there are seven notable changes.<\/h3>\n