See Also: Eliminating Dealer Service Fees
Florida Dealer Sues Competitor For Selling Vehicles With Takata Airbags
A Florida dealer who has ceased selling Takata airbag-equipped cars is now suing a competitor for failing to disclose to consumers that vehicles on his lot are equipped with the defective airbag.
by Staff
October 27, 20161 min to read
LAKE PARK, Fla. — An interview with a reporter convinced Toyota dealer Earl Stewart to stop selling vehicles with defective Takata airbags this past June. Now he's suing one of his competitors for failing to properly disclose to buyers that their vehicles have open Takata recalls on them, according to CBS News.
As part of the suit, Stewart is seeking damages for loss of business.
So far, more than 23 million vehicles have been recalled due to defective Takata air bag inflators. If activated, these defective inflators can rupture and launch shrapnel toward the driver. To read the full story, click here.
This isn’t the first time Stewart has mounted a public relations fight against his competitors. In 2008, he lobbied the Florida state legislature to eliminate dealer fees, calling them unjust because dealers hide the fees among a batch of legitimate state, local and federal fees.
More Auto Finance
Dealerships Are Paying the Price for Extended Car Loans
Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.
Read More →
Trade-Ins in Negative Equity Reach New Heights
As such trade-ins rise in frequency, so do monthly loan payment amounts and interest rates, according to second-quarter data compiled by Edmunds.
Read More →
Auto Credit Plentiful
June numbers show lenders are readily granting access, including to risky borrowers, as consumers leverage themselves to take on high prices.
Read More →
Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Porsche Financial Services Shifts Structure
After 36 years with Porsche, the Financial Services Chief Financial Officer Konrad Riedl is retiring, and the department is realigning its management structure.
Read More →
Tariffs Could Raise Insurance Premiums
As U.S. import tariffs affect repair costs, consumers might find it more affordable to replace a damaged vehicle, according to recent Insurify tariff analysis.
Read More →
Smaller Loans, Longer Terms
The youngest generation of car buyers is more likely to finance less expensive vehicles, more than half of generation Z consumers borrowing less than $25,000.
Read More →
New Cars a Tad More Affordable
May averages show that combined circumstances gave auto consumers slightly better buying power for the month, though average prices were up year-over-year.
Read More →
First-Quarter Sees Long Auto Loan Growth
Experian data show more consumers are tapping the method, along with refinancings, to afford buying. Meanwhile, subprime borrowers are getting more access.
Read More →
Mastering Credit Friction
In this video, Josh Krach explains how to turn credit friction into an advantage.
Read More →