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09-21-2022, 01:20 PM | #1 | |
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Potential FTC Ruling on Dealer Add-ons, etc
Ran across the current proposed rule by the FTC that would do away with some of the addon and other practices used by car dealers.
Basically covers the following: Quote:
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Olivia 05/03/2012 - 01/06/2024. 231,146 glorious miles.
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The Following User Says Thank You to Dadhawk For This Useful Post: | Irace86.2.0 (09-21-2022) |
09-21-2022, 02:50 PM | #2 | |
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Quote:
To my understanding, it basically says "The dealer shall not hide, or add fees without your clear and proper signature that clarifies your understanding of what you're about to buy". So the "market adjustment" or "dealer fees" don't necessarily apply to the new proposed rules. Things like lifetime oil change fee or lifetime car washes fees would be banned. The biggest thing is that whatever price was first agreed on prior to ordering a car that shall be absolutely in stock, that will be the final price. But it could be whatever the dealer feels like because you would've been signing stating understanding. This could also help those people that have placed a down payment for a vehicle that may very well never get to the dealer and it being non-refundable. I could also be understanding this completely wrong too. |
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The Following User Says Thank You to spcmafia For This Useful Post: | Dadhawk (09-21-2022) |
09-21-2022, 03:05 PM | #3 |
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Yea, it leaves more questions than answers. It does sound like it will be similar to what Scion did where "the posted price is the price" but the posted price does not have to be MSRP. You would think (in a logical, non-dealer world) that this would make it much easier to comparison shop across dealers. I think it could have been simplier though. My rules:
Dealers must sell vehicles at MSRP or below. The final price cannot include any fees other than tax and registration fees. Dealers cannot add anything to the vehicle that was not a factory option or a dealer installed factory option (listed on the window sticker) unless agreed to in advance. Dealers cannot charge "document fees" or other administrative charges as these are part of doing business.
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Olivia 05/03/2012 - 01/06/2024. 231,146 glorious miles.
Visit my Owner's Journal where I wax philosophic on all things FR-S Post your 86 or see others in front of a(n) (in)famous landmark. What fits in your 86? Show us the "Junk In Your Trunk". Last edited by Dadhawk; 09-21-2022 at 03:44 PM. |
09-21-2022, 03:11 PM | #4 | |
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Quote:
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The Following User Says Thank You to Tcoat For This Useful Post: | Dadhawk (09-21-2022) |
09-22-2022, 08:37 PM | #5 | |
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Quote:
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09-24-2022, 04:18 PM | #6 | |
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Quote:
However, as you noted, the advertised price will include hidden items. Things like; admin fees, OMVIC charge, tire tax, air tax, and dealer installed items like ceramic coatings and interior anti-stain spray. I just viewed the documents for our last four cars and found the above listed items were over MSRP. To be clear only the 2011 STi had the paint coating and interior spray. It was a package that the dealer said was put on every car. However after many complaints (the wife's included) this practice was stopped at this dealership. So there are ways to get around most every law. |
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09-24-2022, 04:23 PM | #7 |
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Some legal stuff going on with South Florida dealers adding charges to lease buyouts. They got bagged.https://www.miamicars.com/business/w...lease-buyouts/ this is an old article. There have been settlements made since
Last edited by Lantanafrs2; 09-24-2022 at 04:37 PM. |
09-24-2022, 11:38 PM | #8 |
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Time to start pinning down the shady dealers here in the US...it's about time.
Many dealers advertise cars at MSRP, then hit you with the market adjustment and junk add-ons once you actually take time to drive down to the dealership and see the car in person, this would help end that. |
09-25-2022, 12:09 AM | #9 |
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a lot of dealers will also advertise vehicles showing all discounts applied, which is just as shady...
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