Under the Federal Trade Commission's Used Car Rule, dealerships are required to disclose the following information to buyers of used cars:
* Vehicle history. This includes information about any accidents the car has been in, any repairs that have been made, and any outstanding recalls.
* Warranties. Dealerships are required to disclose whether the car is being sold with a warranty, and if so, what the terms of the warranty are.
* Financing terms. Dealerships are required to disclose the terms of any financing that is being offered for the car, including the interest rate, the monthly payments, and the total amount that will be paid over the life of the loan.
* Odometer. Dealerships are required to disclose the mileage on the car, as well as whether the odometer has been rolled back.
* Fuel economy. Dealerships are required to disclose the fuel economy of the car, as well as the estimated annual fuel cost.
* Safety features. Dealerships are required to disclose the safety features of the car, including whether it has airbags, anti-lock brakes, and traction control.
State Laws
In addition to the federal law, many states have their own laws that govern the sale of used cars. These laws may require dealerships to disclose additional information, such as:
* The car's emissions levels.
* The car's inspection history.
* The car's title history.
Buyers of used cars should be aware of the laws in their state in order to ensure that they are getting all of the information that they need to make an informed decision.
