Modern Dealer: Business Development with Colin Thomas BDC Colin™
Colin Thomas
17 episodes
4 hours ago
Whether you are building a BDC from the ground up or you have a an existing BDC, Colin can analyze your sales process, make recommendations on how you can sell more cars, assess the sustainability of your team members, provide one-time or ongoing training, coaching and management both in a classroom group environment and one-on-one, help your BDM/BDD by installing tools and metrics to hold your team accountable, or have an open-house recruiting event for your sales floor or BDC, 708-RED-LINE. BDC Colin works with all NEW unit OEMs
All content for Modern Dealer: Business Development with Colin Thomas BDC Colin™ is the property of Colin Thomas and is served directly from their servers
with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.
Whether you are building a BDC from the ground up or you have a an existing BDC, Colin can analyze your sales process, make recommendations on how you can sell more cars, assess the sustainability of your team members, provide one-time or ongoing training, coaching and management both in a classroom group environment and one-on-one, help your BDM/BDD by installing tools and metrics to hold your team accountable, or have an open-house recruiting event for your sales floor or BDC, 708-RED-LINE. BDC Colin works with all NEW unit OEMs
FTC Proposes Rule to Ban Junk Fees, Bait-and-Switch Tactics Plaguing Car Buyers
Modern Dealer: Business Development with Colin Thomas BDC Colin™
18 minutes 27 seconds
2 years ago
FTC Proposes Rule to Ban Junk Fees, Bait-and-Switch Tactics Plaguing Car Buyers
In a bulletin issued by the federal trade commission on June 23, 2022 the FTC Proposes Rule to Ban Junk Fees, Bait-and-Switch Tactics Plaguing Car Buyers
As auto prices surge, agency launches rulemaking to protect consumers’ pocketbooks and level the playing field for honest dealers regarding: Ban bait-and-switch claims: The proposal would prohibit dealers from making a number of deceptive advertising claims to lure in prospective car buyers. This deal deception can include the cost of a vehicle or the terms of financing, the cost of any add-on products or services, whether financing terms are for a lease, the availability of any discounts or rebates, the actual availability of the vehicles being advertised, and whether a financing deal has been finalized, among other areas. Once in the door or on the hook, consumers face the fallout of false promises that don't pan out.
Ban fraudulent junk fees: The proposal would prohibit dealers from charging consumers junk fees for fraudulent add-on products and services that provide no benefit to the consumer (including “nitrogen filled” tires that contain no more nitrogen than normal air).
Ban surprise junk fees: The proposal would prohibit dealers from charging consumers for an add-on without their clear, written consent and would require dealers to inform consumers about the price of the car without any of optional add-ons.
Require full upfront disclosure of costs and conditions: The proposal would require dealers to make key disclosures to consumers, including providing a true “offering price” for a vehicle that would be full price a consumer would pay, excluding only taxes and government fees. It would also require dealers to make disclosures about optional add-on fees, including their price and the fact that they are not required as a condition of purchasing or leasing the vehicle, along with disclosures to consumers with key information about financing terms. Access the full bulletin here https://www.ftc.gov/news-events/news/press-releases/2022/06/ftc-proposes-rule-ban-junk-fees-bait-switch-tactics-plaguing-car-buyers?fbclid=IwAR0fyI_swROjp0UXvPgy_Ml4rRxF8qrOvfQzRz5iZGNFU_mgn0Fxx7LVoMI&fs=e&s=cl
Modern Dealer: Business Development with Colin Thomas BDC Colin™
Whether you are building a BDC from the ground up or you have a an existing BDC, Colin can analyze your sales process, make recommendations on how you can sell more cars, assess the sustainability of your team members, provide one-time or ongoing training, coaching and management both in a classroom group environment and one-on-one, help your BDM/BDD by installing tools and metrics to hold your team accountable, or have an open-house recruiting event for your sales floor or BDC, 708-RED-LINE. BDC Colin works with all NEW unit OEMs
