In the drive toward Combating Aauto Retail Scams, the FTC’s just-announced CARS Rule is a big win for consumers, who lose billions of dollars in wasted time and money each year to illegal practices like bait-and-switch tactics and junk fees. It’s also a big win for honest car dealers who strive to apply established truth-in-car-buying principles at their dealerships and shouldn’t have to compete against dealers who don’t. Why is the CARS Rule such a game changer and what compliance guidance does the FTC have for industry members? Read on for more information.
The CARS Rule is the culmination of…
automotive deal
Car Deals Are Easier to Find but Lenders Are Tightening Their Terms
New cars are more available this spring, and manufacturers have even begun offering deals to interested buyers.
But at the same time, lenders have been tightening the terms of car loans as they deal with a rising number of delinquencies. That has made it harder for some people to get affordable loans.
Access to auto loans for both new and used cars was generally worse in January than in December and down year over year, according to Dealertrack, a Cox Automotive service that tracks credit availability based on factors like loan approvals, terms and down payments. The impact was seen…