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Buying a car can be a hassle.
Until recently, a proposed rule aimed to shield consumers from car-buying scams and deceptive practices by car dealers.
It was designed to protect consumers from deceptive car dealer practices and junk fees while benefiting honest dealers.
Why Was the CARS Rule Overturned?
An ANPRM is a preliminary notice stating that a government agency is considering regulatory action.
Generally, agencies must issue an ANPRM before developing a new rule.
The trade associations also argued that the FTC conducted a rushed and inadequate cost-benefit analysis before finalizing the rule.
However, without the rule, consumers may continue to face deceptive practices and junk fees from dishonest dealers.
Heres what to watch for.
An honest dealership should be able to clearly explain all charges and why they are required.
If they cant, consider taking your business elsewhere to avoid overpaying.
They may not be disclosing all the terms upfront.
Consider securing financing through your bank or credit union instead of relying on dealership offers.
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