2017 GNYADA Membership Directory

NYC SIGN DISCLOSURE REQUIREMENTS

In April 2016, the New York City Department of Consumer Affairs implemented new disclosure requirements related to the sale of used vehicles. Dealers are advised to review the requirements (explained below) to make sure all signs are compliant. New Requirements NYC dealers that sell used cars must have a sign, at least 216 sq. inches, with letters at least 2” tall, displayed in close proximity where used vehicles are sold, stating that the dealership sells both new and used vehicles. All used vehicles, products, and parts must be clearly labeled usingwords like “secondhand”, “used”, “not new”, “demo model”, “pre-owned”, “refurbished”, or “recycled.”

HOT TOPICS

Total Selling Price Signs • Display the total selling price of each used vehicle at eye-level, either within five feet of the vehicle (indicating to which vehicle it applies) or on the vehicle’s dashboard or window/windshield. • The price of the car must be written in characters at least one inch high . • The sign must disclose, in text at least one-half as high and one-half as broad as the largest print on the sign, that taxes, registration, and title fees are not included in the selling price. Add-On Product Signs • Dealers must have signs that list each after-market product offered for sale and state the price immediately next to the product (i.e. a single product, and its price, on each line). • Signs must have letters at least one-inch high, unless separately posted on each vehicle, in which case the letters must be one-half inch high. • ExtendedWarranties: a range of selling prices may be posted and must include factors affecting price (make, model, year, and mileage). • All signs must include the following statement in bold and capital letters at least half as high and half as broad as the largest print on the sign (but no smaller than a quarter inch high): YOU ARE NOT REQUIRED TO BUY ANY ADD-ON PRODUCTS IN ORDER TO PURCHASE A CAR AT THE ADVERTISED PRICE .

If you have questions about these signage requirements, please call GNYADA at 718.746.5900.

2017

MEMBERSHIP DIRECTORY 43