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HOT TOPICS
2015 GNYADA Membership Directory
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5. Abbreviations
Use of any unexplained abbreviation or jargon which is confusing, misleading or not readily understood by
the general public. For example, use of “C.R.”without further explanation for “Capitalized Cost Reduction”
(a mandatory and usually substantial initial payment in a lease transaction), would violate this section.
B. PRICE ADVERTISING
1. Advertised Selling Price
a) Use of any price figure in an advertisement, unless such figure represents the actual purchase price
of the advertised automobile, exclusive of registration and title fees and taxes.
b) Failure to include a statement, adjacent to the price, that the price includes everything except
registration and title fees and taxes.
c) Failure to include a statement, where an advertised automobile is not in stock, that the automobile
is not in stock.
d) Failure to include a statement indicating the number of vehicles in stock at the advertised selling
price, if the number is not likely to meet reasonably anticipated demand.
e) Failure to disclose the major options affecting the value of the car that are included in the advertised
price. For example, airconditioning, power windows, cruise control and AM/FM stereo.
2. Selling Above Advertised Price
Selling an automobile for more than the advertised price, if such
price has not been communicated to the purchaser, unless the
ad specifically conditions the obtaining of the automobile
at the advertised price upon the presentation or mention
of the ad.
3. “Low Prices”
Use of the term “low prices”, or similar words, unless
the prices offered are lower than those usually offered
by the dealer or other dealers in the same business
area.
4. “Lowest Prices”, “Guaranteed Lowest Prices”
Use of the terms“lowest prices”,“guaranteed lowest prices”,
“prices lower than anyone else” or similar terms, unless the
dealer has systematically monitored and continues to monitor
competitive prices in the trade area and can substantiate such claim.
5. Price Matching
Use of the terms “meet your best offer” or “we won’t be undersold”, or similar terms which suggest that
a dealer will beat or match a competitor’s price, unless (a) the dealer clearly and conspicuously discloses
its price matching policy and any limitations and (b) such policy does not require the presentation of any
evidence which places an unreasonable burden on the consumer. For example, a dealer’s policy which
requires a signed sales order from another dealer would violate this section.