"FTC Implements CARS Rule to Protect Consumers from Auto Retail Scams"
The Federal Trade Commission (FTC) has finalized the Combating Auto Retail Scams (CARS) Rule to combat bait-and-switch tactics and hidden fees in vehicle shopping. The rule aims to save consumers over $3.4 billion and 72 million hours annually. It includes protections for military members and their families who are often targeted. The CARS Rule prohibits misrepresentations, requires clear pricing information, and bans unnecessary add-ons. It also addresses deceptive practices that affect servicemembers, such as false affiliations with the military and misleading information about repossessions and out-of-state moves. The rule will take effect on July 30, 2024.