Following public comments on its 2012 proposed amendments (ICR Ref. No. 201206-3084-002) and 2014 supplemental proposed amendments (ICR Ref. No. 201410-3084-004) to its Used Motor Vehicle Trade Regulation Rule (âRuleâ or âUsed Car Ruleâ), the Federal Trade Commission (âFTCâ or âCommissionâ) amends the Rule by: (1) adding a Buyers Guide statement recommending that consumers obtain a vehicle history report (âVHRâ), check for safety recalls, and visit an FTC website for more information; (2) revising the Buyers Guide statement describing the meaning of an âAs Isâ sale in which a dealer offers a vehicle for sale without a warranty; (3) adding boxes to the front of the Buyers Guide where dealers could indicate additional warranty and service contract coverage; and (4) adding a Spanish statement to the English Buyers Guide advising Spanish-speaking consumers, who cannot read the English Buyers Guide, to ask for a Spanish Buyers Guide if the dealer conducts a sale in Spanish.
The estimates for optional disclosures under the final amendments, applied to the updated estimate of 27,966,551 used cars sold per year, yields an estimated incremental burden of 58,264 hours. Estimating that dealers will make the optional disclosures on 25% of the 27,966,551 used cars offered for sale, and assuming further a cost of thirty cents per preprinted Buyers Guide, incremental purchase costs per year will total $2,097,491.
Apart from the incremental effects of the rule amendments, the downward adjustments to estimates concern the pre-existing ICs for which newer, lower estimated number of used car dealers and used cars sold apply. Those adjustments aggregate to 77,108 fewer hours and a reduction of $297,434 for incremental purchase costs for Buyer Guides per used vehicle.
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Used Car Final Rule Suppl. SS fin.pdf
Used Car Dealers Ordering & Stocking Buyers Guides