Va. (and all) dealers: Check your ads for compliance
At the January meeting of the Virginia Motor Vehicle Dealer Board (MVDB), dealers were reminded of the need to provide disclosures required under the Truth in Lending Act if a trigger term is used in advertising. Dealers were also cautioned against use of the word free or similar terms when advertising the sale of motor vehicles. MVDBs staff regularly monitors dealer ads for violations.
MVDBs executive director, Bruce Gould, discussed some pending legislation in the Virginia General Assembly that could affect dealers. An auction bill would end the requirement that a dealer taking a vehicle to a wholesale auction sign a consignment form. The bill would also allow a vehicle to be sold at retail auction with a rejected safety inspection as long as disclosure is made. The bill is expected to pass.
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