Under the Truth in Lending Act, any advertisement of interest rate must be for the annual percentage rate or APR, using either form of that term. An advertisement that does
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Advertising: Spot the Problem
The Federal Trade Commission shows no sign of slowing down its efforts to police car dealer advertising. How well do you know federal advertising requirements? Identify the specific problem in
Service-members Civil Relief Act
Car dealers have focused on the rights of active duty service members and their dependents because of the December 14, 2017 change in interpretation of regulations on the Military Lending
More Franchise Myths
Occasionally, we write about myths in the car business – things that “everybody knows” that are not true. Here are some franchise myths we have been discussing with dealers. My
Don’t Let CFPB Fumbles Affect Your Compliance Efforts
The Consumer Financial Protection Bureau has had its wings trimmed, but don’t allow that to reduce your emphasis on compliance. The Federal Trade Commission is the cop on the beat
18 Thoughts for ’18
2017 was a tumultuous year in the car business. In other words it was business as usual. Dealers have become accustomed to coping with major changes. 2018 should not be
Discrimination and Harassment – A Refresher
Dealers have long known of the dangers of lawsuits involving employees contending they have been the victims of discrimination or harassment. However, with today’s unprecedented focus on charges against Hollywood,
Manufacturer Construction Deadlines
Any new car dealer who has gone through the process of building facility improvements to meet a manufacturer’s requirements knows about “that letter” – the agreement letter by which the
Dueling Dealers
Two Toyota dealers in overlapping markets have been involved in overly aggressive competition that has led to lawsuits, and their activities provide lessons for all dealers. One of the cases
Performance Evaluation Traps
This time of year, many organizations begin implementing a year-end performance evaluation process for employees. Supervisors should understand that this is a critical responsibility, and they should be careful to