Motor Vehicle Dealers Trade Regulation Rule

Forms and Documents

Document Name	Status
Auto Rule NPRM Supporting Statement-FINAL-2022.pdf Supporting Statement A	2022-07-13

IC Document Collections

IC ID	Document Title	Status
251474	Add-On List Disclosure Requirement (Online and Mobile Platforms)	New
251466	Disclosures in Hard Copy or Electronic Format (Non-Labor Costs)	New
251465	Retention of Calculations of Loan-to-Value Ratios (Fill-In)	New
251460	Retention of Calculations of Loan-to-Value Ratios (Templates)	New
251459	General Recordkeeping (Modifying Existing Systems)	New
251457	Disclosures relating to negotiability of APR	New
251455	Cash Price without Optional Add-Ons (All Sales with Optional Add-Ons)	New
251454	Cash Price without Optional Add-Ons (Financed Sales with Optional Add-Ons)	New
251453	Cash Price without Optional Add-Ons (Sales Offers with Optional Add-Ons)	New
251451	Disclosure of Cash Price without Optional Add-Ons (Templates)	New
251450	Add-On List Disclosure Requirement (Initial Design and Periodic Revisions)	New

ICR Details

OMB Control No:	ICR Reference No: 202202-3084-001
Status: Received in OIRA	Previous ICR Reference No:
Agency/Subagency: FTC	Agency Tracking No:
Title: Motor Vehicle Dealers Trade Regulation Rule
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 07/13/2022

	Requested	Previously Approved
Expiration Date	36 Months From Approved
Responses	149,475,985	0
Time Burden (Hours)	7,816,819	0
Cost Burden (Dollars)	221,870,782	0

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Abstract: The Federal Trade Commission seeks comment on a notice of proposed rulemaking (‘‘NPRM’’) related to the sale, financing, and leasing of motor vehicles by motor vehicle dealers. The proposed rule would prohibit motor vehicle dealers from making certain misrepresentations in the course of selling, leasing, or arranging financing for motor vehicles, require accurate pricing disclosures in dealers’ advertising and sales discussions, require dealers to obtain consumers’ express, informed consent for charges, prohibit the sale of any add-on product or service that confers no benefit to the consumer, and require dealers to keep records of advertisements and customer transactions.

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Authorizing Statute(s): US Code: 12 USC 5519 Name of Law: The Dodd-Frank Wall Street Reform and Consumer Protection Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3084-AB72	Proposed rulemaking	87 FR 42012	07/13/2022

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 11

IC Title	Form No.	Form Name
Add-On List Disclosure Requirement (Initial Design and Periodic Revisions)
Add-On List Disclosure Requirement (Online and Mobile Platforms)
Cash Price without Optional Add-Ons (All Sales with Optional Add-Ons)
Cash Price without Optional Add-Ons (Financed Sales with Optional Add-Ons)
Cash Price without Optional Add-Ons (Sales Offers with Optional Add-Ons)
Disclosure of Cash Price without Optional Add-Ons (Templates)
Disclosures in Hard Copy or Electronic Format (Non-Labor Costs)
Disclosures relating to negotiability of APR
General Recordkeeping (Modifying Existing Systems)
Retention of Calculations of Loan-to-Value Ratios (Fill-In)
Retention of Calculations of Loan-to-Value Ratios (Templates)

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ICR Summary of Burden

	Total Request	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	149,475,985	0	0	0	149,475,985	0
Annual Time Burden (Hours)	7,816,819	0	0	0	7,816,819	0
Annual Cost Burden (Dollars)	221,870,782	0	0	0	221,870,782	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement:

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Annual Cost to Federal Government:

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 07/13/2022

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