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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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To date, the F&I product provider has returned $329 million through its dealer participation plans, with company officials noting that 2014 distributions exceeded the highest return since the inception of those programs.
Read More →The FTC unanimously approved a final order settling its deceptive advertising complaint against Dallas-based Trophy Nissan, which was charged on Dec. 23 with violating the FTC Act, the Consumer Leasing Act and the Truth in Lending Act.
Read More →Two used-car dealerships and their owner reached a settlement this month with the Department of Justice and the state attorney general. The settlement resolves a lawsuit that alleged the dealerships charged African American buyers more for loans and repossessed vehicles without reasonable notice.
Read More →Penske Automotive Group realized a 16% increase in revenue and a 14% bump in adjusted income from continuing operations in 2014’s fourth quarter. The dealer group’s CEO also discussed its plan to pilot the NADA’s fair credit compliance program at four stores.
Read More →The California New Car Dealers Association has reached an agreement with bipartisan legislators to author legislation that will increase disclosure of recalls and improve safety.
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Todd Clarke was promoted to vice president and general counsel for Southeast Toyota Distributors and JM Lexus, businesses of parent company JM Family Enterprises.
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The website, called “Tesla Crash,” was launched by the Connecticut Automotive Retailers Association in response to a bill that would allow the electric automaker to sell directly to consumers in the state.
Read More →EFG's Karen Klees became one of the first 100 compliance officers to earn certification under the NAF Association's new program. Last April, the company's entire dealer services team earned AFIP certification.
Read More →The used-car dealership exceeded the number of cars allowed on its lot under city law by nearly 200 vehicles. It has 60 days to remove the extra cars.
Read More →Earlier this month, Idaho’s House Transportation and Defense Committee narrowly affirmed regulations that would mandate how long car dealers should be open each week.
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