AFSA Extra Credit Podcast: Auto Remote Sales Compliance

Hudson Cook, LLP
Contact
The Federal Trade Commission's Cooling-Off Rule has been around since 1972 (it became effective in 1974), but generally has been a non-issue for dealers until the Coronavirus pandemic when dealers were forced to conduct off-site or remote sales to their customers. The Rule regulates a dealer's ability to engage in sales at places other than the dealer's permanent place of business, like consumer's home, consumer's place of business, etc. The Rule requires disclosures in the sale contract, disclosures in a separate notice, and orally, See more +
The Federal Trade Commission's Cooling-Off Rule has been around since 1972 (it became effective in 1974), but generally has been a non-issue for dealers until the Coronavirus pandemic when dealers were forced to conduct off-site or remote sales to their customers. The Rule regulates a dealer's ability to engage in sales at places other than the dealer's permanent place of business, like consumer's home, consumer's place of business, etc. The Rule requires disclosures in the sale contract, disclosures in a separate notice, and orally, gives a buyer a 3-day right to cancel, prohibits misrepresentations regarding that right, and restricts a dealer's ability to assign the contract until midnight of 5th business day.

In this AFSA podcast, Hudson Cook Partner Eric Johnson discusses the impact of the Rule on dealer's activities and their relationship with their financing sources and ways in which dealers can avoid application of the Rule. See less -

Embed
Copy

Written by:

Hudson Cook, LLP
Contact
more
less

PUBLISH YOUR CONTENT ON JD SUPRA NOW

  • Increased visibility
  • Actionable analytics
  • Ongoing guidance

Hudson Cook, LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide