FTC’s CARS Rule Is a Win for Auto Consumers
WASHINGTON, D.C. – The Federal Trade Commission (FTC) today finalized its Combating Auto Retail Scams (CARS) Rule to fight two widespread illegal tactics consumers face when buying a car: bait-and-switch tactics and hidden junk fees. The rule is expected to save consumers more than $3.4 billion and an estimated 72 million hours each year shopping for vehicles. Bart Naylor, financial policy advocate for Public Citizen, released the following statement:
“Buying a car shouldn’t be a mixed martial arts battle. Bait-and-switch tactics and hidden fees by car dealers have long aggravated and betrayed American consumers, who deserve an honest shopping experience when it comes to their most consequential purchase after a home. Ideally, the FTC’s new rule will bring integrity to this often infuriating experience. Veterans, low-income people, indigenous populations, and communities of color that are often targeted with junk fees will benefit especially.”