The FTC should consider comments received regarding the information collection instrument(s) and provide a response and any necessary adjustments in its next submission to OMB.
Inventory as of this Action
Requested
Previously Approved
02/28/2014
02/28/2014
02/28/2014
52,796,189
0
52,796,189
1,974,409
0
1,974,409
4,906,274
0
4,906,274
The Rule facilitates informed purchasing decisions by consumers by requiring used car dealers to disclose information about warranty coverage, if any, and the mechanical condition of used cars they offer for sale. The Rule requires used car dealers to post a "Buyers Guide" on used cars offered for sale to consumers. The Buyers Guide must disclose information about the warranty coverage offered. The proposed changes include adding a statement on the face of the Buyers Guide informing consumers about the availability of vehicle history reports and suggesting that consumers obtain a copy of a vehicle history report. The Commission also proposes adding a statement, in Spanish, on the face of the English version of the Buyers Guide suggesting that consumers ask for the Buyers Guide in Spanish if they cannot read it in English. In addition, the Commission proposes to change the Buyers Guide to improve disclosure of warranties.
Proposed program change effects: The estimates for optional disclosures under the proposed amendments, applied to an updated estimate of 27,618,480 used cars sold per year, yields an estimated incremental burden of 57,539 hours. Assuming that dealers will make the optional disclosures on 25% of the 27,618,480 used cars offered for sale, and assuming further a cost of twenty cents per pre-printed Buyers Guide, this would additionally result in $1,380,924 of incremental purchase cost per year.
Effects of increased estimate of used cars sold (not tied to program changes): 232,884 additional hours and $617,422 in purchase costs strictly tied to a higher estimate of used cars sold.
$0
No
No
No
No
No
Uncollected
John Hallerud 312 960-5615 jhallerud@ftc.gov
No
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 '12 NPRM SS fin_mtd.pdf
Dealers Ordering & Stocking Buyers Guides