FTC USED CAR RULE CHANGES EFFECTIVE JANUARY 27, 2017

The FTC has changed the Used Car Rule and the Buyers Guide sticker effective January 27, 2017. You can use up your old stickers until January 27, 2018 BUT... you have to make changes to them. I suggest you start using the new ones from January 27 onward. Failure to comply carries a $40,000 per violation penalty if the FTC comes after you so this is serious.

For financing purposes you want to make sure the paperwork you get from a dealer when you buy a contract includes a copy of the appropriate "Buyers Guide".

A summary of the changes with links to specific guidance is attached along with a copy of the new window sticker.

Consult your own counsel to review this rule.

New Buyers Guide - https://www.consumer.ftc.gov/articles/pdf-0083-buyers-guide.pdf

FTC Dealer's Guide to the Used Car Rule.PDF


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