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Dealers must be careful they don’t run afoul of the law when it comes to such deceptive practices, as there are many cases pointing to the potential bad ends of such deals.
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Protestors flocked to a Roseville, Calif., CarMax store today to protest the sale of recalled vehicles and to call on the FTC to investigate the used-vehicle retailer.
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The market research firm’s prediction is based on skyrocketing subprime approvals and an active Hispanic consumer market, which, for the first time, could outpace African-Americans in new-vehicle purchases.
Read More →A used-car dealer is accused of pocketing more than $13,000 in vehicle service-contract sales, leaving customers without the protections they though they purchased.
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The NADA’s Peter Welch responded to an op-ed piece published in The New York Times that was critical of dealer franchise laws, saying such protections ‘level the playing field between dealers and manufacturers.’
Read More →The owner and operator of Excel Auto Group and B and B Motors pleaded guilty last week to charges that he sold cars with false odometer readings.
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A report released by the United States Government Accountability Office this week found that the CFPB, which has collected information on up to 600 million financial accounts, has fallen short in its data-protection efforts.
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The magazine made available this week the voting page for the final round of the IAS-sponsored F&Idol competition. Review the five video entries and vote for the overall winner of the 2014 contest.
Read More →The CFPB has proposed a new rule to oversee larger nonbank auto finance companies for the first time at the federal level. The compliance firm suggests that this could significantly affect compensation policies in dealerships.
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Following an announcement that it would seek supervisory authority over 38 nonbank auto finance companies, the CFPB held a field hearing on the topic in Indiana this morning.
Read More →The CFPB announced this week a proposed rule that would allow it to oversee about 38 nonbank auto finance companies. The bureau also plans to release a new whitepaper which details the methodology it uses to determine the presence of discrimination in auto lending.
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