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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