A hanging Buyer's Guide is a document used in the context of vehicle sales. It provides important information to potential buyers of used vehicles regarding the warranty status of the vehicle they are considering purchasing. This guide is called "hanging" because it can be hung from the rearview mirror of a vehicle or attached to a window for easy visibility. The Buyer's Guide is designed to help consumers make informed decisions when buying a used car and is typically required by the Federal Trade Commission (FTC) regulations.
The Buyer's Guide serves as a legal disclosure document, and it informs buyers about the warranty coverage or lack thereof on the used vehicle. The two common options for Buyer's Guides are the "Implied Warranty" and "AS-IS" labels.
Yes, there are different designs and layouts available for hanging Buyer's Guides. The two common designs mentioned in your description are the "Implied Warranty" and "AS-IS" labels.
- Implied Warranty Buyers Guide: This design indicates that the dealer is offering an implied warranty with the vehicle. It includes information about the implied warranty, which varies from state to state but typically covers some basic aspects of the vehicle's condition.
- AS-IS Buyers Guide: This design, on the other hand, communicates that the vehicle is being sold "as-is," meaning without any warranty. This option is often chosen when the dealer doesn't want to provide any warranty coverage for the used vehicle.
At Dealermarket you can get both designs which typically include the following features:
- Size: The hanging Buyer's Guide is typically 8-1/2" x 11-3/4" in size.
- Carbonless: It is often designed as a 2-part, carbonless document, which means that writing or marking on one part transfers to the other part without the need for carbon paper.
- Color: The standard colors for the document are white and yellow, with the white copy for the dealer and the yellow copy for the buyer.
- Adhesive Tape: They come with a 2-position permanent adhesive tape at the top and bottom, allowing them to be easily attached to a vehicle's rearview mirror or window.
- Printing: The information on the document is printed in black ink with a gray backer for readability.
- Hole: There is a large 1-1/8" hole at the top, which allows for easy hanging from mirrors.
These hanging Buyer's Guides help protect both the buyer and the seller by clearly stating the warranty status of the vehicle, ensuring transparency in the sale of used cars. It's crucial for dealers to comply with FTC regulations and provide the appropriate Buyer's Guide based on the warranty coverage offered.