franchise dealers who sell used vehicles must comply with the Federal Trade Commission's Used Car Rule including dealers who sell more than five vehicles in a period of twelve months. Financial institutions and banks are exempt from the rule.
The car is used in all states except Maine and Wisconsin. These two states are exempt because they have similar rules, the dealer for information on used vehicles. The rule applies to the District of Columbia, the U.S. Virgin Islands, Guam and American Samoa.
You must have a Buyers Guide before you "offer" a used vehicle offered for sale. A vehicle is offered for sale if you sell or let a customer test it for the purpose of purchase, even if the car is not ready for delivery. At public auctions, dealers and the auction companies have. The rule does not apply to auctions that have closed for the consumer.
Exceptions to the rule are: motorcycles, vehicles sold for scrap or parts, agricultural equipment.
Buyers Guide is a document that the disclosure of key consumer purchasing and warranty information, the Buyers Guide is for the consumer:
* Whether the vehicle is sold "as is" or with a warranty;
* What percentage of the repair costs a dealer will pay under the warranty;
* The fact that oral promises are difficult to enforce;
* To all promises in writing;
* To view the Buyers Guide for reference after the sale;
* The most important mechanical and electrical systems of cars and some of the biggest problems that consumers should look out for;
* To require that the car inspected by an independent mechanic before you buy.
If a used car transaction in Spanish, a Spanish language Buyers Guide must be based on the vehicle before they can be displayed or offered for sale.
The Buyers Guide must be clearly visible and on or in a vehicle when a vehicle is offered for sale. This means it must be clearly seen with both sides visible. You can hang the Guide from the rearview mirror in the car or from the side-view mirror outside the car. It can also be used in a windshield wiper. A guide can also be attatched to a page. A guide may not be a seat or in the glove compartment because it is not clearly in sight.
The guide can be removed for a test, but must be replaced as soon as the test drive.
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