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e. Mandatory Guarantees. Although the used car rule does not require dealers to disclose warranties in the Buyer`s Guide that are the responsibility of another party, such as . B manufacturer, the rule requires dealers to disclose information about all warranty coverage they offer. Therefore, if federal, state, or local laws require you to provide a specific warranty on a used vehicle that you offer for sale, you should briefly describe that warranty in the Buyer`s Guide.10 Section 455.2(b)(2). This warranty information should be included in the „Covered Systems/Duration“ section of the Buyer`s Guide. If necessary, you can expand the „System Coverage/Duration“ section of the Buyer`s Guide to include additional warranty information. You must also fully comply with the disclosure requirements of national or local law. For example, you must comply with a national or local law that requires you to provide the consumer with a separate warranty document.11 If you are transacting a used car in Spanish, you must publish a Spanish buying guide on the vehicle before displaying or offering it for sale. No. You are not a „dealer“ because you have not offered to sell at least six used vehicles it is a period of twelve months. However, once you offer your sixth used vehicle for sale to consumers within twelve months, you become a „dealer“ within the meaning of the rule and must therefore create and display a buyer`s guide for all used vehicles that you offer for sale to consumers.

Section 455.1(d)(3). 10. For an example, see New York General Business Law Section 198-b. This provision of New York law requires dealers to provide consumers with written warranties on seven mechanical systems of a used car sold for more than $1,500. You must publish a buyer`s guide before „offering“ a used vehicle for sale. A vehicle is offered for sale if you display it for sale or have a customer inspect it for the purpose of purchase, even if the car is not fully prepared for delivery. This requirement also applies to used vehicles offered for sale on your property by shipping, power of attorney or other agreement. In the case of public auctions, the merchants and the auction company must comply. The rule does not apply to auctions closed to consumers. You may want to check the different places in the car that have a Vehicle Identification Number (VIN) to make sure the number is consistent. If not, you have parts from several cars that could pose a serious problem.

Usually, this means that the car is stolen. The VIN appears inside the door, sometimes on the dashboard, engine block, etc. It must match what is written on the title. They should all be the same. At Phil Long Dealerships, we want to make sure you have the information you need to make good buying decisions. That is why we want to talk about the used car rule, also known as the used motor vehicle trade regulation rule. We will discuss what the used car rule means, the requirements, terms and conditions set out in the mandate when it comes to buying used cars in Colorado. We`ll also look at the FTC`s Buyer`s Guide and possible alternative versions of it.

If you understand your car purchase rights, you can buy used cars in Colorado with ease. An educated buyer is a better buyer. View Used Inventory The Buyer`s Guide describes the warranty period and what is covered. It also provides in-depth advice to the consumer to ensure that you are buying a quality vehicle. With this agreement, there is no confusion between the dealer and the customer. Everything is clearly arranged for gentle treatment. The new rule adds a new requirement that must be disclosed on stickers affixed to all used cars for sale and asks consumers to get a vehicle history report and look for ongoing recalls. The sticker informs consumers that this information can be found under and For even more detailed information on vehicle history summary reports, see CLB Car Fraud § 2.3 and for full state register reports, § 2.4.

Before your used vehicles are offered for sale, sold or made available for inspection at an auction open to consumers, you must prepare and display a buyer`s guide according to the requirements of the rule. If the vehicle is sold to a consumer, you must meet the other requirements of the rule as if you had sold the vehicle from your usual place of business. If your used car is sold to another dealer at the auction, you are not required to comply with it with respect to that particular vehicle. Yes. Whenever you offer to sell a used vehicle to a consumer, you should follow the rule by preparing and publishing a buyer`s guide before offering the vehicle for sale. In this example, you must prepare and display a buyer`s guide while the used vehicle is offered for sale to consumers. However, the rule does not apply if you are making a wholesale transaction, even if the vehicle was first offered for sale to consumers. Section 455.2(a). Section 455.2 of the Rule requires dealers to prepare and display a window sticker called a „Buyer`s Guide“ before offering a used vehicle for sale to a consumer. The buyer`s guide should indicate whether a warranty is offered and the basic terms of a warranty. If the dealer does not offer an express warranty, the Buyer`s Guide must state that the vehicle will be offered for sale „as is“ (without express or implied warranties) or only with the applicable „implied warranties“ required by state law. Each of these conditions is explained in the Buyer`s Guide.

Since many used cars are sold without warranty or service contract, you should always bring a witness when looking at the used car. You can then say what questions were asked and repeat how the seller answered those questions. You may want to make a physical list of the questions you want to ask about the car and then tick them off when you ask the owner. Write down the answers while the owner responds to them. I hope this will make the owner think twice before lying to you. You can also record the conversation on tape, but most people get nervous when they think they are being recorded on tape. You are not required to inform the Seller that you are recording your conversation with the Seller on tape when you speak to the Seller in person. If it`s over the phone, as long as the seller is in NC and you`re NC, you can also record the conversation you`re involved in if you communicate the sale to the seller over the phone with or without. Figure 2.1: You open your first dealership and offer to sell five used vehicles to consumers on the first business day.

For twelve months, you have not offered to sell other used vehicles to consumers. Do you fall under the rule? Yes. The rule is supposed to apply to all used car dealerships, regardless of their owner. However, banks and financial institutions that directly offer to sell used cars do not fall under the rule. section 455.1(d)(3); Explanation of the basis and purpose, 49 FR to 45708. Be wary of the words „as they are“ again. If the car is sold „as is“, it means that the seller does not give any guarantee to this car and you take all the risks that something is wrong with the car. .


What Is the Used Car Rule

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