Proposed Rule Changes Combating Auto Retail Scams Trade Regulation Rule

[MarvBear]

I think this will be implemented by mid summer of 2024.

 

p204800_cars_rule.pdf

 

[hdporter]

https://www.ftc.gov/system/files/ftc_gov/pdf/p204800_cars_rule.pdf

[hdporter]

We're purchased 3 new vehicles in the past 20 years.  Each transaction has been straightforward, clear and simple.  So I wouldn't have much inkling of underhanded activities that take place in some showrooms.  From the narrative and excerpts of this proposed trade rule, it's clear that there are more than a handful of unscrupulous dealers out there.

 

What's particularly shocking is that there's a key subset of predatory dealers who clearly target young service members, with lots located near bases.  I suppose there are opportunistic businesses that target every vulnerable consumer sector, but this one seems particularly egregious (and I hope there's a prime place in hell reserve for such antics).

[IndyPoolPlayer]

Seen some YT videos from this dealer in southern Indiana that describes crooked car salespersons and F&I who tell customers that extended warranties are required by the bank as a condition of financing.