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HOT TOPICS
2017
MEMBERSHIP
DIRECTORY
43
NYC SIGN DISCLOSURE REQUIREMENTS
In April 2016, the New York City Department of Consumer Affairs
implemented new disclosure requirements related to the sale of used
vehicles. Dealers are advised to review the requirements (explained below)
to make sure all signs are compliant.
New Requirements
NYC dealers that sell used cars must have a sign, at least 216 sq. inches, with
letters at least 2” tall, displayed in close proximity where used vehicles are
sold, stating that the dealership sells both new and used vehicles.
All used vehicles, products, and parts must be clearly labeled usingwords like
“secondhand”, “used”, “not new”, “demo model”, “pre-owned”, “refurbished”,
or “recycled.”
Total Selling Price Signs
•
Display the total selling price of each used vehicle at eye-level, either within five feet of the vehicle
(indicating to which vehicle it applies) or on the vehicle’s dashboard or window/windshield.
•
The price of the car must be written in characters at least
one inch high
.
•
The sign must disclose, in text at least
one-half as high and one-half as broad
as the largest print on the
sign, that taxes, registration, and title fees are not included in the selling price.
Add-On Product Signs
•
Dealers must have signs that list each after-market product offered for sale and state the price immediately
next to the product (i.e. a single product, and its price, on each line).
•
Signs must have letters at least one-inch high, unless separately posted on each vehicle, in which case the
letters must be one-half inch high.
•
ExtendedWarranties: a range of selling prices may be posted and must include factors affecting price (make,
model, year, and mileage).
•
All signs must include the following statement in bold and capital letters at least half as high and half as
broad as the largest print on the sign (but no smaller than a quarter inch high):
YOU ARE NOT REQUIRED
TO BUY ANY ADD-ON PRODUCTS IN ORDER TO PURCHASE A CAR AT THE ADVERTISED PRICE
.
If you have questions about these signage requirements, please call GNYADA at 718.746.5900.