It Just Got Harder For Car Dealers To Scam You


“The total amount that my son would finance was different on the printout paper than we had signed on the computer. It was all of a sudden almost $4,000 more,” she said.

The agency says these predatory fees and tactics cost auto consumers in the U.S. $3.4 billion per year, and they add 72 million hours to their time spent shopping for vehicles, according to NBC News. The new rule bans misrepresentations about price, cost and other important information when shopping for a car. It’ll also require dealers to provide the actual price consumers have to pay for vehicles, tell them that additional items like extended warranties aren’t mandatory and state the full monthly payments consumers will be paying upfront.

The Federal Trade Commission has announced new regulations, called the Combating Auto Retail Scams Rule, that are meant to stop car dealers from screwing customers with hidden fees and other bait-and-switch pricing tactics. Oh, happy days!

NBC News spoke with one consumer who described how she was completely boned by a Toyota dealer:

She said she later reviewed the lease paperwork and found a charge from an extended warranty company.

Lupo also confirmed that her daughter, who had bought a nearly identical car the week before and hadn’t dealt with that financing manager, was paying less than her son.