Arkansas Automobile Dealers Industry Information Pamphlets
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How to fill out Automobile Dealers Industry Information Pamphlets?
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FAQ
The Used Car Rule, formally known as the Used Motor Vehicle Trade Regulation Rule, has been in effect since 1985. It requires car dealers to display a window sticker, known as a Buyers Guide, on the used cars they offer for sale.
Auto dealers are subject to extensive federal and state consumer protections. Dealers are regulated effectively by, among other agencies, the Federal Trade Commission (FTC) and the Federal Reserve Board.
Most car dealers who sell used vehicles must comply with the Federal Trade Commission's (FTC's) Used Car Rule. In fact, car dealers who sell, or offer for sale, more than five used vehicles in a 12-month period must comply with the Rule.
Under the amended Rule, dealers must display a revised window sticker called a Buyers Guide, which contains warranty and other important information for consumers, on each used car they offer for sale. The compliance sweep was conducted between April and June 2018, in 20 cities nationwide.
The Federal Trade Commission (FTC) has recently amended its Used Car Rule. This adjustment will mean a lot for buyers in the used car market. Take a look at what this rule is, how it has changed, what this means for buyers, and how the FTC is keeping dealerships in check.
The Buyers Guidethe major mechanical and electrical systems on the car, as well as some of the major problems that consumers should look out for;whether the vehicle is being sold "as is" or with a warranty;what percentage of the repair costs a dealer will pay under warranty;More items...
The FTC's (Federal Trade Commission) Used Car Rule requires California Dealers to post a Buyers Guide in every used car they offer for sale. You must post a Buyers Guide before you display a vehicle for sale or let a customer inspect it for the purpose of buying it, even if the car is not fully prepared for delivery.
If you are engaged in any of the following, you must get an Arkansas Dealer License: Selling 5 or more used motor vehicles in one calendar year. Involved in the business of selling, buying, or displaying for sale used motor vehicles.