Dealers must use revised Buyerês Guide starting Jan. 27
WANADA offers this reminder that dealers must start using the revised Used Car Buyerês Guide by Jan. 27. That is when the Federal Trade Commissionês amendments to the FTC Used Car Rule take effect, and the revised Buyerês Guide must be afixed to all used vehicles before they can be displayed for sale.
Dealers may ask their forms supplier about obtaining the revised Buyerês Guide, or may download a copy from the FTC website. It is important to use the wording, type style, type sizes and format specified in the Rule. Completion of the revised guide is generally similar to the current guide. The FTC has provided directions and guidance here.
Dealers should review the revised Buyerês Guide carefully and work with their vendors and advisors to ensure that they are prepared to use the revised form by the Jan. 27 deadline with staff. The preparation should include reviewing the revised forms with staff and reviewing the dealershipês used car warranty offerings to ensure the form is accurately completed.Download Bulletin PDF