2020Directory_FNL_FlippingBook

2020 MEMBERSHIP DIRECTORY & SERVICES GUIDE HOT TOPICS

REQUIREMENTS FOR USED CAR BUYERS GUIDES

Since January 2018, dealers have been required to use the new Federal Trade Commission Used Car Buyers Guide. The revised notice contains a statement that consumers may obtain vehicle history reports and check for open recalls through safercar.gov. Other updates include:

• Dealers may indicate if the vehicle is still covered by a manufacturer’s warranty or is a “certified”vehicle, which positively affects its value. • Airbags and catalytic converters have been added to the list of potentially defective parts on the back of the notice. • Buyers Guides must now contain a sentence, written in Spanish, directing Spanish-speaking customers to request a Spanish- language Buyers Guide. • Dealers are required to provide Spanish-language Buyers Guides for transactions conducted in Spanish. At the time of sale, dealers should have customers sign the Buyers Guide and provide a copy or the original to the customer. The Guide must include all final changes if any were made during the sale. Keep a copy of the signed Guide in your deal jacket. Failure to post Buyers Guides can lead to fines of over $40,000 per violation.

GNYADA has FTC compliant Buyers Guides available for members to purchase at a specially discounted price.

English : 200/set = $27.50 Spanish : 100/set = $15.00

For any questions about the Buyers Guides or to order new stock, please call the Association at 718.746.5900.

* The New York City Department of Consumer Affairs (DCA) has cited dealers for failing to include required information on Used Car Buyers Guides hanging in car windows. According to the DCA, the DCA license number should be provided on the form with all the required information.

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