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FTC Buyers Guide Updates

In September of 2016 the FTC announced updates to the Buyers Guide. Although the updates went into effect on January 1, 2016, the previous versions were acceptable for use for another year. If you haven't updated your buyers guides yet, you need to get the updated versions as soon as possible. Reminder that failure to use the buyers guide is a potential penalty of up to $11,000 per vehicle. 
Here is a quick update of what changed on the buyers guide:
  • changing the description of an "As Is" sale;
  • placing boxes on the face of the Buyers Guide that dealers can check to indicate whether a vehicle is covered by a third-party warranty and whether a service contract may be available;
  • providing a box that dealers can check to indicate that an unexpired manufacturer's warranty applies;
  • adding air bags and catalytic converters to the Buyers Guide's list of major defects that may occur in used vehicles;
  • adding a statement that directs consumers to obtain a vehicle history report and to check for open recalls.  The statement also instructs consumers to:
    • visit ftc.gov/usedcars for information on how to obtain a vehicle history report; and
    • visit safercar.gov to check for open safety recalls;
  • adding a statement, in Spanish, to the English-language Buyers Guide, advising Spanish-speaking consumers to ask for the Buyers Guide in Spanish if the dealer is conducting the sale in Spanish; and
  • providing a Spanish translation of the statement that dealers may use to obtain a consumer's acknowledgement of receipt of the Buyers Guide.
The updated FTC buyers guides are available from IDS at any one of their three offices. See them in Midvale, Orem, or Ogden or visit online at www.IndependentDealerSolutions.com.