This Act comes into play when you’re at the point of success; you’ve closed a sale and are offering financing to your customers!
The Act was set up to protect the privacy of consumer information, and sets the standards for privacy notices, opt-out notices, and how nonpublic personal information can be used or disclosed.
The more successful your dealership is, the more you’ll have to know here.
There are quite a few OSHA regulations that impact employees across your dealership, particularly your service department and your body shop. These can involve things like wearing protective equipment and logging workplace industries.
The rules are here:
This regulation prohibits practices that discriminate, and was enacted to promote the availability of credit to all creditworthy applicants without regard to race, color, religion, national origin, sex, marital status, or age (provided the applicant has the capacity to contract). Pretty sure your team is all over it.
If not, check out how the FTC describes consumers’ rights when buying a car:
Advertising must be non-deceptive and truthful. And any mention of financing or terms must trigger certain disclosure statements. Advertisers must have evidence to back up any claim. The burden of proof for advertising claims is on the dealer. And advertising cannot be “unfair.” Unfair advertising is described as that which would “…substantially injure customers, violate established public policy, be unethical or unscrupulous.”
Protect your dealership from unscrupulous marketing mistakes here:
FMLA covers employees’ right to take limited unpaid leave for personal and family medical emergencies. It also covers leave related to military service.
Learn the rules and details on what information you need to display in your dealership:
And, in support of freezing terrorists’ assets, you are required to check your customers’ names against the Specially Designated Nationals List (SDN List). The SDN List is comprised of “individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries. It also lists individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific.”
Learn more here: