Thinking of buying a used car? Wondering if you have any protection from unscrupulous sellers?

We went to the Federal Trade Commission (FTC) to find out what you should know.

We know: Your Rights When Buying A Used Car

First, the Bad News …

No Right to Cancel

Used car dealers are NOT required by law to give you a 3-day right to cancel your purchase. If you think you may want to return the car, the dealer must grant you that privilege. So, before you buy a used car from a dealer, ask if there is a return policy, what it is, and get a copy of it in writing.

Now, some Good News …

Used Car Dealers Must Post a Buyers Guide

The FTC’s Used Car Rule requires that dealers post a Buyer’s Guide in every used car they offer it for sale, unless the dealer sells fewer than six cars a year.

The Buyers Guide must tell you:

If the vehicle is being sold ‘as is’ or has a warranty
What percentage of the repair costs the dealer will pay under the warranty
That spoken promises are difficult to enforce
To get all promises in writing
To keep the Buyers Guide for reference after the sale
The major mechanical and electrical systems on the car, including some of the major problems you should look out for
To ask to have the car inspected by an independent mechanic before you buy

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We know: Your Rights When Buying A Used Car

No Right to Cancel

Used Car Dealers Must Post a Buyers Guide

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