GNYADA March 2017 Newsletter

NYC Sign Disclosure Requirements

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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 using words like “secondhand”, “used”, “not new”, “demo model”, “pre-owned”, “refurbished”, or “recycled.” 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, n n n “Total Selling Price” Signs

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 (one product/price per 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. Extended Warranties: a range of selling prices may be posted and must include factors affecting price (make, model, year, 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 BUYANYADD-ON PRODUCTS IN ORDER TO PURCHASE A CAR AT THE ADVERTISED PRICE. If you have questions about these signage requirements or about the DCA's enforcement of the new regulations, please call GNYADA at 718.746.5900. n n n n

GNYADA at Your Fingertips

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The Association encourages all its dealer members and their employees to stay connected and tuned in to the latest GNYADA news and updates by using the resources below:

activities of the Association, news about its dealer members, as well as what’s going on at the Center for Automotive Education & Training.

Targeted Email Distribution Lists

GNYADA tries to limit the number of emails we send to our growing lists, by targeting emails to those within a dealership for whom the message is most applicable. If you would like to register yourself or a staff member to receive GNYADA emails, please email PhyllisA@gnyada.com .

GNYADA.com

Social Media

The Association maintains a very robust website ( gnyada.com) , with an incredible amount of information to which all members have access. If you do not have a User ID or have forgotten it, please contact Phyllis Aguilar, at 718.746.5900 or via email at PhyllisA@gnyada.com .

For dealers and employees who are active on social media, GNYADA wants you to know the Association has a Twitter presence. We invite anyone with Twitter to follow us at https://twitter.com/GNYADA_official It’s a great way to keep up with the

Greater New York Automobile Dealers Association • www.gnyada.com

The Newsletter • March 2017

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