March 15, 2024
The Federal Trade Commission's CARS Rule is the most comprehensive set of federal regulations for the automotive dealership industry in history. The Rule has been stayed in federal court.
The primary purpose of the CARS Rule is to add truth and transparency to the car buying and leasing process by making it clear that certain deceptive or unfair practices are illegal – for example, bait-and-switch tactics, hidden charges, and other conduct that harms consumers and honest dealers.
Why is it called the CARS Rule? It's about Combating Auto Retail Scams that cost consumers billions of dollars each year and cause honest dealers to lose business. The Rule lays out four basic principles to protect people shopping for cars and trucks – practices that are already business-as-usual for honest dealers.
As with any new ruling, there are a lot of considerations and Do's and Don'ts. VADA Partner ComplyAuto has pulled together Frequently Asked Questions, along with a Reference Sheet, for dealers. Click them below to download.
For more information, reach out to our ComplyAuto contact: Sherryl Nens, sherryl@complyauto.com | 661.210.3453
