The Federal Trade Commission (FTC) recently had an enforcement sweep in 20 cities across the U.S., where inspectors checked used cars for the updated Used Car Buyers Guide, required as of January 28, 2018. About 30 percent of the used-car inventory at the stores checked did not have the proper Used Car Guide stickers.
It is important for dealers to ensure that used car sales managers understand that proper Used Car Guide stickers are mandatory and that the FTC will continue using enforcement sweeps for the foreseeable future. A copy of the updated Buyers Guide must be on every used vehicle a dealer offers for sale.
In the coming weeks, inspectors will return to the dealerships that were not displaying the revised Buyers Guide. The potential civil penalty is $41,484 per violation! For full information from the FTC on the Used Car Buyers Guide requirements, click here.Download Bulletin PDF