In December 2023, the Federal Trade Commission announced its Combatting Auto Retail Scams Rule, otherwise known as the “CARS Rule,” which sets new requirements on the sale, financing, and leasing of new and used vehicles by motor vehicle dealers.  The final rule prohibits certain misrepresentations in the financing process, sets disclosure requirements on dealers’ advertising and sales communications, mandates that dealers obtain consumers’ express, informed consent for charges, and prohibits the sale of add-on products or services if there is no benefit to the consumer.

On January 23, 2023, from 1:00 p.m. to 2:30 p.m. EST, Ballard Spahr attorneys will hold a webinar, “The CARS Rule: What You Need To Know About the FTC’s Final Motor Vehicle Dealer Trade Regulation Rule.”  In the webinar, we will discuss the new compliance requirements that the CARS Rule places on motor vehicle dealers and the impact and risks presented by the rule on banks and auto sales finance companies that purchase motor vehicle retail installment sales contracts.

For more information and to register, click here.