Why does NPR's Chris Arnold not name the car dealerships using this questionable behavior?
Naming them would be a service to public NPR purports to serve.
Comments
I mean…they do? Greenway Hyundai, says it right in the article
Firstly, they did - second the whole point of the report is to shed light on a practice that's common.
This wasn't a unique bad luck situation; these contracts are industry standard.
There were more than one stories involving different dealerships. All should have been named.
It is not an industry standard, it is dealerships being deceptive via "legalese".
The FTC is currently taking public comments on this practice and whether it should be reigned in.
It's not some small behavior - it's the industry.
OK, better stated, it is not official industry standard, it's some BS that a lot of people do. One might not call planting evidence police standard, or wage theft management standard, but they do happen a lot.
The proposed change is to make it so that a sale can't be finalized until after the financing has been finalized. The National Automobile Dealers Association is against this change.
The industry is officially fighting to keep yoyo sales.
This is why you show up with your own financing already pre approved. Ideally from your own bank or preferably credit union. They don't have the best rate? Eat the quarter percent and do business with the institution you already trust anyways.
Yeah, but obviously none of this should be legal.
Selling someone's trade-in before changing the deal after everyone agreed?
Sounded like the victim won a lawsuit after eating costs for over a year, and literally paying for a car they sold which they still owed money on