Articles
Line 1 Is Not a Junk Drawer
Rolling products into the cash price — even if the bank told you to — misrepresents the vehicle’s value and runs afoul of four federal laws.
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SEARCHMENUSEARCHRolling products into the cash price — even if the bank told you to — misrepresents the vehicle’s value and runs afoul of four federal laws.
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Hyundai and Kia Motors have settled litigation with car owners affected by overstated fuel economy ratings on vehicles sold between 2011 and 2013. Affected consumers will be given an option to accept a single “lump sum” payment or take part in a lifetime reimbursement program the OEM created in late 2012.
Read More →The Post and Courier reports that employees at two Charleston car dealerships schemed low-income buyers into buying vehicles they could not afford.
Read More →The operator of D&D Auto Sales, two employees and a state Motor Vehicle Commission technician were charged with acquiring fraudulent “clean” titles for eight flood-damaged vehicles and selling seven of them to customers.
Read More →The magazine’s legal insider doesn't believe the bureau has jurisdiction over the F&I products industry, but she admits there’s too much gray area in the Dodd-Frank Act to know for sure.
Read More →Industry insider issues a warning to finance sources that restrict a dealer’s freedom to choose which F&I products are offered to car buyers.
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Industry representatives and consumer advocacy groups squared off in Washington, D.C., last month for the CFPB’s first public forum on auto lending. The event revealed the tightrope the bureau is walking between preserving a rebounding market and strengthening consumer protections.
Read More →The settlement is the department’s third largest fair lending agreement and largest ever auto lending agreement.
Read More →On the same day a Tesla sedan is revealed to have been the possible cause of a garage fire, a group of Ohio dealers, The Columbus Dispatch reports, is suing Tesla Motors and two state agencies. The suit charges that the electric carmaker’s license violates state law.
Read More →Iowa Attorney General Tom Miller charged Auto Special Inc. with not complying with state law when it collected late fees from customers who were less than 10 days late on payments.
Read More →Reynolds and Reynolds’ new Reynolds LAW Virginia F&I Library, a comprehensive catalog of standardized, legally reviewed F&I documents, is now available to franchised new-car and -truck dealers in Virginia.
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