Truth in Lending Act (TILA): Federal law requiring disclosure of credit terms and costs, implemented through Regulation Z. Essential for any financing aspects of the auto purchase agreement.
FTC Used Car Rule: Federal Trade Commission regulation requiring proper display of Buyers Guide and specific warranty disclosures for vehicle sales.
Magnuson-Moss Warranty Act: Federal law governing warranty terms and conditions, including specific disclosure requirements for warranties on vehicles.
Federal Odometer Act: Federal requirement for accurate odometer disclosure and mileage statement requirements in vehicle sales transactions.
State Vehicle Sales Laws: State-specific regulations governing vehicle sales, including registration requirements and title transfer procedures. Varies by state.
State Consumer Protection Laws: State-specific consumer protection regulations including lemon laws, disclosure requirements, and applicable cooling-off periods.
State Contract Laws: State-specific requirements for valid contracts, including statute of frauds and signature requirements applicable to vehicle sales.
State Documentation Requirements: State-specific documentation requirements including bill of sale, required disclosures, and specific forms needed for vehicle transfers.
State Tax Laws: State-specific requirements for sales tax collection, payment, and documentation in vehicle sales transactions.
