AB 1534 (Wieckowski)
Vehicles: dealers: used vehicle sales: labeling requirements.
Existing law regulates the accuracy of information provided to consumers during vehicle sales, including the information contained in advertising, brochures, and manuals, as specified.
Existing law also requires manufacturers, as specified, to disclose certain information regarding a vehicles engine, as specified, by affixing a label on the vehicle. A violation of these provisions is an infraction.
This bill requires a licensed dealer, as defined, to affix to and to prominently and conspicuously display a label on any used vehicle offered for retail sale that states the reasonable market value of the vehicle.
The bill requires the label to contain specified information used to determine the vehicles reasonable market value and the date the value was determined.
The bill requires a licensed dealer to provide to a prospective buyer of the used vehicle a copy of any information obtained from a nationally recognized pricing guide that the licensed dealer used to determine the reasonable market value of the vehicle.
The bill requires the label to meet all the following conditions:
a) Be in writing with a heading that reads “REASONABLE
MARKET VALUE OF THIS VEHICLE” in at least 16-point bold
type and text in at least 12-point type.
b) Be located adjacent to the window sticker identifying
the equipment provided with the vehicle, or if none,
located prominently and conspicuously on the vehicle.
c) Contain the information used to determine the reasonable
market value, including, but not limited to, use of a
nationally recognized pricing guide for used vehicles, and
the date the reasonable market value was determined.
d) Indicate that the reasonable market value is being
provided only for comparison shopping and is not the retail
sale price or the advertised price of the vehicle.
The bill defines “nationally recognized pricing guide” as including,
but not limited to, the Kelley Blue Book, Edmunds, the Black
Book, or the National Automobile Dealers’ Association (NADA)
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