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Mind the GAP

Customer RSS - F&I California
We're shifting gears from the proposed FTC Motor Vehicle Dealers Trade Regulation Rule to a couple of new bills that were recently signed into law in California. Assembly Bill 2311 and Senate Bill 1311 will take effect January 1, 2023 and will impact the way dealers sell GAP in California going forward. 
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Update on the FTC Proposed Motor Vehicle Dealers Trade Regulation Rule

Customer RSS - F&I California
On September 12, the comment period ended for the Proposed Motor Vehicle Dealers Trade Regulation Rule. More than 26,000 comments were submitted and we're summarizing a handful of significant comments here.
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Inflation Reduction Act EV Tax Credit

Customer RSS - F&I California
The new law creates a tax credit for electric vehicles (EVs) but creates a problem for dealers as the changeover occurs from current tax credit policies to the new IRA EV provisions.
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Updates to the LAW 553 Retail Installment Sale Contract

Customer RSS - F&I California
Some changes have been made to the LAW 553 Retail Installment Sale Contract that are already impacting your captive lenders. Although the updates are minor, they will require some reprogramming and I advise you to start looking into the changes you'll need to make now.
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FTC Proposes Rule to Ban Junk Fees and Bait-and-Switch Advertising Tactics Used by Dealerships

Dealers / F&I Compliance
The Federal Trade Commission has proposed a new rule to protect consumers by targeting junk fees and bait-and-switch advertising tactics employed by dealers.
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FTC Proposes New Motor Vehicle Dealers Trade Regulation Rule

Customer RSS - F&I California
The FTC has proposed a new rule, the “Motor Vehicle Dealers Trade Regulation Rule,” which will affect dealers nationwide. It seeks to create a set of guidelines to “protect consumers and honest dealers by making the car-buying process more clear and competitive.”
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What’s Hot on the Hotline?—Three-Day Cancellation Right and Door-to-Door Sales

Customer RSS - F&I California
Let's set the record straight about this “three-day cancellation right,” and there is probably no need to panic so long as you follow the recommended steps.
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A Quick Reminder About Refinancing - Don't Do It

Customer RSS - F&I California
In an attempt to cope with dwindling inventory, dealers have needed to come up with new ways to stay afloat. Consequently, we have heard of some finance personnel soliciting car purchasers with offers to “lower your current interest rate and monthly payment” by refinancing. Let's set the record straight on this idea.
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3 Sales F&I Practices That Will Cost Your Dealership $10 Million

F&I Compliance
A recent settlement from the Federal Trade Commission warrants a review of non-compliant dealership practices and how to save yourself millions.
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