BUYER'S GUIDE Flashcards
The Federal Trade Commission Used Car Rule which sets out the warranty provisions of a sale is
known as:
The buyers guide window sticker rule.
The Buyers Guide is placed on a vehicle:
Before it is offered for sale.
A Buyers Guide must be placed on:
Demonstrators available for sale.
Used trucks under 16,000 lbs. GVW.
Consignment vehicles.
The Buyers Guide is:
Attached to the vehicle in a conspicuous place so both sides can be seen.
What does the Federal Trade Commission Used Car Rule say about Dealers offering vehicles for sale
at public auctions?
A guide must be on the vehicle if the auction is open to the public.
Under the Federal Trade Commission Used Car Rule, a vehicle can be sold “As Is”:
And the service contract box on the Buyers Guide checked.
What is the penalty for violating the Federal Trade Commission Used Car Rule?
Up to $16,000 per violation.
“Full” and “Limited” are terms given to:
Warranties.
According to the Federal Trade Commission Used Car Rule, the following is considered an unfair and
deceptive practice?
Representing that a used automobile is sold with a warranty when it is not.
As described in the Federal Trade Commission Used Car Rule, dealers must display conspicuously on
each used car a:
Buyers guide.
According to the Federal Trade Commission Used Car Rule, the Buyer’s Guide should be displayed on:
Demonstrator or inventory vehicles.
Consignment vehicles.
A dealer must make a copy of the written warranty available for the customer to read prior to the sale.
TRUE
A dealer can sell a vehicle “As Is” or without a warranty in Virginia.
TRUE
Under the Federal Trade Commission Used Car Rule, the terms of the warranty as stated on the
Buyers Guide:
Can be changed and noted on the original Guide or on a new Guide.
When giving a warranty on a used vehicle the dealer must:
Give the customer a copy of the Buyers Guide window sticker.
Give the customer a warranty document containing certain specific phrases.
Which of the following must be included on the Buyer’s Guide?
Purchaser’s signature
For dealer arranged financing, if the retail installment contract is not approved and the deal is cancelled
you must.
Return the customer’s trade-in.
The reverse of the Buyers Guide must be signed by the customer and the dealership:
In every retail sale of a used vehicle.
The reverse of the Buyers Guide must be signed.
In every retail sale of a used vehicle.
