Image: Kia A sucker walks into a new car dealership every minute. Dealership showroom floors are practically delivery rooms for freshly-born suckers. There are shiny new cars on the floor, and rapacious young sales professionals just waiting to lure you into something you can’t afford, don’t need, or otherwise shouldn’t own. I’ve seen them work … Read more
More and more people are buying their cars with cash, and it’s almost entirely because high interest rates have made auto loans miserably high. Both gas-powered and electric vehicles saw double-digit rises in the number of folks who bought them with cold, hard cash, according to Automotive News. Volkswagen’s CEO Is Stepping Down Cash deals … Read more
The Federal Trade Commission has announced new regulations, called the Combating Auto Retail Scams Rule, that are meant to stop car dealers from screwing customers with hidden fees and other bait-and-switch pricing tactics. Oh, happy days! Fewer New-Car Leases Means Disaster for the Used-Car Market The agency says these predatory fees and tactics cost auto … Read more
Photo: Brandon Bell (Getty Images) Toyota’s in-house financing unit is being hit with $60 million in fines and restitution in an effort to settle charges from the Consumer Financial Protection Bureau that it illegally prevented borrowers from canceling product bundles – resulting in higher monthly car loan payments. Toyota Motor Credit will have to pay … Read more