This is my third article in as many months about remote sales, a topic that is suddenly hot, hot, hot with dealers and finance companies during the COVID-19 pandemic because consumers have been restricted from coming to a...more
I know it's been a long month, but you may remember that I wrote about the Federal Trade Commission's cooling-off rule in early April. That rule is just one of the many laws and regulations that a dealer should review and...more
5/12/2020
/ Automotive Industry ,
Business Closures ,
Car Dealerships ,
Coronavirus/COVID-19 ,
DMV ,
Identity Theft ,
Installment Agreements ,
Off-Site Sales ,
Online Advertisements ,
Prohibited Transactions ,
Red Flags Rule ,
Risk Assessment ,
Risk Mitigation ,
Signatures ,
State Regulators
Let's say you want to drive the vehicle a customer is interested in buying to that person's home, let the customer see and test-drive the car, negotiate the price of the car, present and offer F&I products, and then have the...more
4/21/2020
/ Automotive Industry ,
Business Closures ,
Buyers ,
Car Dealerships ,
Cooling-Off Rule ,
Coronavirus/COVID-19 ,
Federal Trade Commission (FTC) ,
Risk Assessment ,
Risk Mitigation ,
Sales Restrictions ,
Salespersons ,
Sellers ,
Social Distancing ,
Statutory Violations
I may be a little old-school on this, but I still like to pick weeds in the yard. It's good exercise, makes the yard look nicer, and gives my brain a little down time.
There's a particularly pernicious type of weed in our...more
I just finished up a very active conference season. I’ve been on the “conference circuit” as some would say, since early January. Being on the conference circuit has enabled me to re-connect with friends, colleagues, clients...more
10/7/2019
/ Automotive Industry ,
Automotive Loans ,
Car Dealerships ,
Compliance ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Enforcement Actions ,
False Advertising ,
Federal Trade Commission (FTC) ,
Repossess ,
Risk Assessment ,
Risk Mitigation ,
Trump Administration ,
Unfair or Deceptive Trade Practices