FTC's proposed used-car rule a lemon, critics claim
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“The FTC really blew it,” said Rosemary Shahan, founder and president of Consumers for Auto Reliability and Safety (CARS). “This industry has a real problem and the proposed rule changes do not address that. ”Shahan and other consumer advocates want the FTC to require more information on the Buyer’s Guide that must be on every used vehicle offered for sale. Right now, that window sticker must tell potential buyers if the vehicle comes with a warranty or is sold “as is. ” It also advises potential buyers to have the car inspected by an independent mechanic prior to purchase and even lists the major mechanical systems that should be checked. Under the proposed rule revisions, the Buyer’s Guide would also advise shoppers to check the vehicle’s history via a federal database and show the address of an FTC website (not yet created) that would have information about vehicle history reports.
Keywords:
vehicle Buyer s Guide car information used car history dealers FTC vehicle history vehicle history information consumer Used Car Rule Automobile Dealers Association National car dealers car buyers lemon law potential buyers vehicle history reports significant vehicle history used car consumer Vehicle Title Information used car buyers best vehicle history Dealers Association NADA National Automobile Dealers used car market major mechanical systems Independent Automobile Dealers law enforcement officials used auto sales National Consumer Law lemon law buyback Commission staff members Consumer Reports warn John Van Alst FTC website Midwest regional office Federal Trade Commission information dealers particular vehicle Auto dealers flooded car current Buyer Rosemary Shahan Consumer groups title history consumer advocates problem real problemPeople:
Bill Underriner
Overall Sentiment: -0.140727
Relevance: 0.404919
| Sentiment | Quote |
|---|---|
| 0.105758 | “It has been very effective because it discloses information that 1) is important to a used car consumer’s purchasing decision and 2) the dealer knows and controls,” said Bill Underriner, ... |
| -0.198267 | Underriner wrote, “it does not help consumers to require dealers to disclose information about a vehicle that may not be available to a dealer or that may not be accurate.” |
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Rosemary Shahan
Overall Sentiment: 0.0848867
Relevance: 0.398761
| Sentiment | Quote |
|---|---|
| -0.281828 | “The FTC really blew it,” said Rosemary Shahan, ... |
| -0.0268762 | “The FTC really blew it,” said Rosemary Shahan, founder and president of Consumers for Auto Reliability and Safety (CARS). “This industry has a real problem and the proposed rule changes do not address that.” |
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Steve Baker
Overall Sentiment: -0.0699044
Relevance: 0.387177
| Sentiment | Quote |
|---|---|
| -0.11799 | “It sounds really simple in concept. If they know there’s a serious problem, tell people about it. But when you try to do a regulation to specify what they say and under what circumstances, it’s not as easy as it sounds,” said Steve Baker, ... |
| 0.188959 | Baker said the commission firmly believes its role is to encourage used car buyers “not to rely on a dealer” ... |
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Bill Brach
Overall Sentiment: -0.239099
Relevance: 0.337621
| Sentiment | Quote |
|---|---|
| -0.398348 | “We think this a lost opportunity,” said NAAG’s Bill Brach. |
| 0.211842 | “We think this a lost opportunity,” said NAAG’s Bill Brach. “When it comes to a used vehicle, nothing is more important for a consumer to know than its history. Was it previously wrecked, flooded, or a lemon law buyback?” |
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Herb Weisbaum
Overall Sentiment: 0
Relevance: 0.329108
John Van Alst
Overall Sentiment: 0.569674
Relevance: 0.27877
| Sentiment | Quote |
|---|---|
| -0.12284 | “The FTC failed to take a big step forward to make used auto sales more transparent and fair,” said John Van Alst, ... |
| -0.159642 | “The FTC failed to take a big step forward to make used auto sales more transparent and fair,” said John Van Alst, an attorney with the National Consumer Law Center. “At best it will allow dealers to continue business as usual, which all too often leads to car dealers defrauding consumers." |
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Additional Info:
FieldTerminology: insurance company
Overall Sentiment: 0.24124
Relevance: 0.304132
Organization: Federal Trade Commission
Overall Sentiment: -0.0821519
Relevance: 0.729935
Organization: National Independent Automobile Dealers Association
Overall Sentiment: 0
Relevance: 0.463731
Organization: National Automobile Dealers Association
Overall Sentiment: 0
Relevance: 0.420498
Organization: National Consumer Law Center
Overall Sentiment: 0.237382
Relevance: 0.323678
Organization: NADA
Overall Sentiment: 0
Relevance: 0.314444
Company: CarFax
Overall Sentiment: 0
Relevance: 0.309966
Disambiguation: References:
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Source Webpage: FTC's proposed used-car rule a lemon, critics claim
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- autos
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Provided Title:
FTC's proposed used-car rule a lemon, critics claim
Webpage Provided Desc:
The Federal Trade Commission (FTC) is in the process of updating its Used Car Rule -- and some prominent consumer advocates are not happy with the proposed changes.
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