The Expert Podcast

• Increased availability of vehicles at new car dealerships.
• Some vehicles now offered at or below MSRP.
• However, deals advertised under MSRP may not be as good as they seem.

• Example: A Volkswagen deal with fine print details.
  • Price listed after a $1,000 trade-in incentive.
  • Financing through the dealer required at a non-subsidized APR.
  • Add-on products like paint protection, theft protection, and maintenance bundled into the deal.

• Federal Trade Commission (FTC) introduces new rules that may make misleading pricing illegal.
• Dealerships must provide accurate pricing disclosures, including add-ons and rebates.
• Prohibited from offering misleading or deceptive advertisements that could divert consumers to their dealerships under false pretenses.

• Dealers must disclose the true offering price of a vehicle in writing when asked.
• No hidden fees or add-ons can be introduced at the end of the buying process.
• Consumers can now ask for a documented firm offering price and hold dealerships accountable.
• Dealers must keep records of all advertisements and sales scripts for 24 months.

• Deceptive pricing practices that waste consumers' time and money are being addressed.
• It's essential to ask for written price information before visiting a dealership to avoid surprises later on.
• If a dealership evades full transparency, it's a red flag.

• Always request a documented price and financing details from the dealer.
• Be aware of any add-ons or conditions tied to the advertised price.
• FTC's new rules ensure that dealers are held accountable for transparent pricing practices.