What is the minimum duration an advertised price must be honored if no specific time was stated?

Prepare for the Colorado Car Sales Exam. Use flashcards and multiple-choice questions with hints and explanations. Get ready for success!

The minimum duration that an advertised price must be honored when no specific time frame is stated is 5 days. This regulation is in place to protect consumers by ensuring that they have a reasonable amount of time to respond to an advertisement before prices possibly change. If a dealership advertises a price, it creates an expectation for potential customers that they can purchase the vehicle at that price for a minimum duration. Honoring the price for at least 5 days helps to foster trust and transparency in car sales practices, encouraging consumers to engage with the dealership without the fear of immediate price fluctuations.

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