Used Car Buyer’s Guide: What you Need to Know

If you are ready to purchase a used car, there are some things you need to know when you visit the dealer.

The guide is a requirement of the Federal Trade Commission (FTC). It is designed as a protection against used car fraud.

The guide should be clearly posted on the car. If it isn’t, ask the dealer to provide it for your review. According to the FTC, the Buyer’s Guide comprises useful information such as:
• How the vehicle is being sold (as is or under warranty).
• How much you can consider the dealer to contribute to repair costs if the vehicle is still under warranty.

The guide also offers useful tip. Buyers should:
• Obtain written documentation of any deals or agreements.
• Retain a copy of the Buyer’s Guide for future reference.
• Have the used vehicle  inspected by a professional mechanic before purchase.

The Buyer’s Guide may comprise a signature line, which the seller uses as proof of the buyer’s receipt of the document. As always, be sure you read every word before you sign. The Buyer’s Guide should also comprise:
• The name and address of the dealership.
• The name and address of right contacts in case you think you are the victim of a car dealer scam.