Archive for April 13th, 2011

13
Apr
11

Dealer-Assisted financing – a great thing according to NADA

During an all-day roundtable that the Federal Trade Commission (FTC) had this week in Detroit, NADA noted the importance that dealer-assisted financing has on the financing process for consumers, saying it has extraordinary value. The NADA rep outlined in detail how just having it there gives more options to consumers, creates a more competitive environment, had possibility of offering consumers competitive rates and gives “unbanked” consumers that otherwise wouldn’t be able to secure financing a means to get transportation. In many cases, even if consumers don’t choose the dealer-assisted financed option, it still provides a huge benefit.

The all-day roundtables are targeted at examining consumer protection issues related to 5 areas of vehicle leasing and sales. This roundtable and a few others are created to help the FTC figure out how they should exercise the power they’ll be assuming to issue rules prohibiting unfair and deceptive acts or practices (UDAP) by auto dealers under the Dodd-Frank Wall Street Reform and Consumer Protection Act.

To read the full article on NADA Regulatory Affairs, please click here.