Regulatory Review of the Used Motor Vehicle Trade Regulation Rule - Used Car Rule
Two general comments on the law: 1) The law needs to better describe the dealer's responsibilty on warranties/ extended contracts offered by the manufacturer or extensions of existing balance of factory warranties. In specific, the area listed where the form reads, "The dealer will pay ___% of parts and ___% of labor". This is confusing and open to interpretation whether the dealer should fill this out or leave zero, since the coverage is being provided by a third party. That should be seamless and irrelevant to the consumer, as long as the coverage is provided. 2) With the anticipation of vehicle transactions moving more and more on-line driven, this FTC form should be available electronically and viewable on dealership listings. This would not be onerous on the dealership and provide the potential consumer valuable information in full disclosure.