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 (“Rule” or “Used Car
Rule”), the Federal Trade Commission (“FTC” or “Commission”) amends
the Rule by: (1) adding a Buyers Guide statement recommending that
consumers obtain a vehicle history report (“VHR”), check for safety
recalls, and visit an FTC website for more information; (2)
revising the Buyers Guide statement describing the meaning of an
“As Is” 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