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Thanks to the global car chip shortage and record inflation, drivers seem to see fewer and fewer new cars these days.
Automakers across the globe have hit the brakes on production. Manufacturers made 1.7 million fewer cars in 2021 than in 2019. Inventory levels at dealerships might not return to normal until late 2023. As bad as that is for the automotive industry, old-fashioned government coercion is about to make things even worse.
Under a cloak of deceit, the Federal Trade Commission (FTC) is attempting to ram through a new rule guaranteed to make the car buying experience worse. The proposed rule change will make it harder for dealers to sell new cars, extend the amount of time it takes to buy a car and threaten to destroy the online car marketplace.
The FTC says it seeks to ban underhanded tactics, from bait-and-switch claims to surprise junk fees.
What they don’t say is that this requires a level of compliance from honest dealers guaranteed to stall car sales further. Historically, when buying from a dealership, the process takes several hours. Imagine the government doubling — or tripling — that number.
The changes will add three comprehensive forms to the motor vehicle transaction process for customers taking out a loan to pay for finance and insurance options.
And that’s just to start.
Fortunately, there’s still time to act. Opponents of the latest bureaucratic hurdle can make their voices heard by adding their names here before the FTC’s 60-day public comment period ends.
Meanwhile, the National Automobile Dealers Association (NADA) is sounding the alarm in a new video.
Per Automotive News:
The FTC also would require a new form “each time you ask about a different vehicle,” the narrator says. Any inquiry about a vehicle or its financing triggers new disclosures, and any question about monthly payments on different vehicles calls for new documents signed “over and over,” NADA argues.
The new regulations also could “thoroughly frustrate progress” in online sales, which are now enabled at 80 percent of car dealerships for new-vehicle transactions, according to NADA’s video. The FTC would add new forms and disclosures to the process, it argues.
“It’s 2022. The whole world is online, including car sales,” the narrator says. “Today’s transactions should be easier and simpler, not more complex and burdensome for consumers. Tell the FTC its new rule on vehicle sales is unnecessary.”
Even the FTC acknowledges that its “reforms” will bring about more paperwork.
“Portions of the proposed rule contemplate additional disclosures in an already lengthy, confusing and disclosure-heavy but low-comprehension transaction,” the FTC says. It asks the public, “Would any of the additional proposed disclosures do more harm than good? If so, is there another measure that should be used to address the consumer protection concerns described herein?”
Dealers and consumers have through Sept. 12 to tell Biden and the Democrats their thoughts on the proposed regulations.
After Obama’s failed “Cash for Clunkers” program and Biden’s unreasonable edicts on electric vehicles, the government, yet again, seems destined to make another crisis even worse.
That’s why it’s important for you to tell Washington bureaucrats not to make the process of buying a car worse! Let them know the last thing you want is for car sales to be more complex, cumbersome and confusing!
The clock is ticking…
The opinions expressed in this article are those of the author and do not necessarily reflect the positions of American Liberty News.
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Sign Here to Tell the FTC “NO” on New Regulation That Will Stall Car Sales Throughout America!
DONT need this BS now
Leave it to these radical left wing liberals to screw up another thing in the life of the American citizen. The Biden administration is being controlled by people that are trying to tear this country apart, and screwball ideas like this one is just one more example of that. If we don’t purge as many democrats from office as we can this November, and November 2024, they will eventually destroy our way of life.
It’s only a matter of time and they’re going to ban gas cars anyway. And the electric car market will crash on it’s own. Nobody’s buying that garbage.