FTC Compliance Fallout with Ted Smith of FLADA
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FTC Compliance Fallout with Ted Smith of FLADA
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Episode #1295: Automotive trade associations nationwide are rallying dealers around FTC advertising compliance and we're joined by Ted Smith of FLADA.
Don Hall and the Virginia Automobile Dealers Association responded to Friday's FTC warning letters with a detailed compliance roadmap. Automotive trade associations across the country are stepping up to help dealers navigate what this means on the ground.
- From VADA’s compliance roadmap: The core rule is simple: the advertised price must be the total price every consumer pays, processing fees and freight included. State law does not matter here; the FTC Act overrules it.
- There is no such thing as an "Internet Price" or a "Geographic Price." If it's advertised, it must be available to every customer, every time, and no disclaimer can fix a non-compliant price.
- Pre-installed add-ons that consumers cannot remove or decline, like paint protection or etching, must be included in the advertised price.
- MSRP-only listings are a trap: post MSRP, and you'd better be prepared to sell at that price, or advertise the actual dealer total price instead.
- VADA's bottom line: audit your ads now, update your addendum stickers, and train your sales staff on accurate out-the-door pricing, because a single screenshot of a non-compliant ad is all a regulator needs.
Today’s show is brought to you by HeyGreenlight. HeyGreenlight’s Wingman gives your sales and BDC team live, real-time guidance so they consistently say the right things, at the right time, on every call.
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