Dealership Association Claims FTC Crackdown On Deceptive Practices Will Make Vehicles More Expensive
The National Independent Automobile Dealers Association strongly opposes a proposed rule recently released by the Federal Trade Commission adding additional regulations to the already heavily regulated car-buying process.
The Motor Vehicle Dealers Trade Regulation Rule, announced June 23, would place extensive restrictions on the sale, financing and leasing of motor vehicles and, more important, would harm the very customers the FTC is trying to protect.
The proposed rule aims to ban so-called “junk fees” for add-on products and F&I services that “provide no benefit to the consumer” and requires written disclosure and consent for optional coverages and products, as well as requiring dealers to provide a true “offering price” including all costs other than taxes and government fees.