NADA calls Forbes.com on the carpet

NADA calls Forbes.com on the carpet

In response to a recent Forbes.com article Car Dealer Scams to Watch Out For, NADA has sent a letter of complaint to the writer, Forbes Detroit Bureau Chief Joann Muller, for unjustifiably maligning an entire industry. The letter outlines a litany of inaccuracies in Mullers article, which is almost devoid of any balance

The NADA response contains some key messages, especially in support of dealer-assisted financing, that dealers can use when responding to similar negative media articles in their local markets. For example, the NADA letter cites an Associated Press article published in the Detroit News that provides an example of a car buyer who was able to get a lower interest rate on a car loan from his dealer than from his credit union. NADA says stories like these go a long way in rebutting claims that car buyers are paying too much for dealer-assisted financing.

NADA is asking its members to send it dealership examples of similar successful efforts to provide lower interest rates on auto loans to customers than they could have gotten at their bank or credit union. It is creating a Story Bank with these kinds of examples for rapid-response use as needed. NADA believes negative articles, like the Muller story in Forbes.com, appear to be timed to coincide with the start of a series of FTC roundtable discussions on dealer practices. Dealers can send their stories to David Hyatt, NADA, vp of public affairs, at dhyatt@nada.org.