Before the Federal Trade Commission: Used Motor Vehicle Comments

by William Lilley on October 21, 1976
by William Lilley

 

Regulations proposed by the Federal Trade Commission (FTC) concerning the sale of used motor vehicles were largely supported today by the Council on Wage and Price Stability.

The proposed regulations would require used car dealers to supply a disclosure statement containing information about: (a) the make, model, and year of manufacture of the vehicle; (b) the mileage the vehicle has been driven; (c) a description of any warranty, including, if the vehicle is sold without a warranty, an explicit statement to that effect; (d) a description of any repair work done on the vehicle by the dealer or otherwise known to the dealer, in excess of $100; (e) if known, the identity of the prior user and the nature of the prior use; and (f) the chief executive officer of the dealership. In addition, the regulations would prohibit the making of any misleading statements concerning the vehicle–in particular, the making of any oral statements which contradict the required written statement. Finally, the proposal would require dealers to retain and make available to FTC officials, upon request, copies of the required written disclosure.

 

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