WHY AUTO DEALERS NEED OVERSIGHT

WHY AUTO DEALERS—

NEED OVERSIIGHT BY THE CONSUMER PROTECTION AGENCY!

A review of the facts should convince anyone that auto dealers should not be exempt from oversight by the new Consumer Protection Agency to be part of the Federal Reserve.

1) Many people with diverse backgrounds buy new and used autos. Most of the buyers and lookers do not have enough technical background to make an informed decision about the autos they see. The potential customers rely on the salesperson they speak to and ads they see on TV. The purchase of an auto is usually a large purchase from several hundred dollars to several thousand dollars.

2 Right there you have a possibility and an incentive for potential customers to be taken advantage of. The salesperson, usually an expert on autos, is advising an untrained buyer on what to purchase. For the unscrupulous salesperson this is an open invitation to take advantage of the perspective buyer.

3) While not all salespeople would take advantage, enough of the auto salespeople do so that that auto dealers have a reputation for sharp practice and people not to be trusted.

4) This tends to be true of not only autos but also computers, insurance, mortgages etc. This is the reason for having a Consumer Protection Agency. Purchasing today is more complicated usually with all kinds of paperwork that most people do not understand and realize the legal implications of.

5) Wherever the buyer has to rely on the seller for the knowledge to choose a purchase you have the potential for purchases that are not in the best interest of the buyer.

6) Auto dealers are the last place in our economy that does not need oversight by a Consumer Protection Agency.

7) As our representative in government we rely on you to protect the interests of the people. In this case you can accomplish this by making sure the Consumer Protection Agency has oversight of the auto dealers.