Community

Share your automotive expertise

2 Write a Blog Post

Filed in: Marketing

Breaking News: FTC Cracks Down on Auto Loan Schemes Today

We mentioned weeks ago that FTC enforcement of advertising regulations related to auto sales and loans would step up. Today was more evidence of that crackdown. The FTC came down on two California lenders promising consumers they could stop repossession and reduce payments. (FTC Press Release)

By all accounts, these companies were clearly involved in deceitful advertising practices, and they deserve what they have coming to them. In our follow-up discussion with the FTC, they acknowledged that the federal government has more "cops on the street" and is determined to combat deception aimed at consumers.

Today's actions were not aimed at dealers. Indeed the uncovering of these scams is good news for our industry. However, the bigger lesson is that getting your dealership within the clear parameters of advertising regulations is not optional this spring. These same scams went on for an extended period of time in the mortgage industry. Virtually every American was exposed to the radio and TV ads offering to save consumers from the threat of home repossessions before the crackdown in that industry took place. That era is gone. Swift action will be the calling card of Federal regulators, and even faster action must be the response of dealers who may be beyond the edge of compliance.

Comments

Thanks for the info Lindsey and Dennis. Wow, the FTC is certainly on a roll lately!

Apr 5, 2012

Credit rating is not a problem anymore. The best part about an instant payday advance is that you can pay everything back on your next paycheck and avoid worrying about this anymore. When a crisis comes, many people do not keep a lot of money lying around to pay for it. That means you need an instant cash advance to help you get through the emergency time. Get more information at: https://personalmoneynetwork.com/payday-loans/

Nov 14, 2013

Comments 1 - 2 of 2

You must be logged in to comment

Login Create an account

Add your comments:

   

Lindsey Auguste and Dennis Galbraith's Recent Posts

Related Posts

  • Digital Marketing Journey....What's Next?

     We have a Hyundai store that has been in business for quite some time. We have always had a straight talk branding message in our advertising efforts. We have also had always a very generous budget to work with. About four years ago we really started working on our digital presence. While we started these efforts a little behind everyone else we have outpaced most of the dealers in our area. We started by looking at the processes that we have in place at the dealership. We needed to make sure that the leads were being handled properly. Once these were in place, we started working on our SEO for site. We took a long term approach to this along with our digital vendor. We also started working with our website vendor and tweaked our website. Once we had the site looking good we started spending money on sem advertisements. Originally all of our efforts were directed at Google. Once we started looking good on Google we started to tackle Bing. W...Read post

  • Dirty Advertising, The Man vs The Little Guy

    There are plenty of providers that exist to help automotive dealers with products and services.Read post

  • Keep Your Summer Momentum Going with Back-to-School

    Can you believe it? The back-to-school season is already in full swing. If you’ve visited any major retail outlet, checked your mailbox, or watched commercials, you’ve probably noticed that marketers are promoting back-to-school savings. This means, now is the perfect time for your dealership to capitalize on the season with relevant back-to-school marketing. Here are three ways you can promote your dealership, drive business to your store, and generate additional traffic and revenue to keep your summer momentum going. Offer Back-to-School Tips With the hustle and bustle of the back-to-school season, many parents are thinking about new schedules, prepping their kids for the first day, and getting organized. Chances are these parents are not thinking about their vehicles or the maintenance it will need to be ready for the carpool lane. Think about offering customers helpful back-to-school vehicle tips and service savings to ensure their vehicles are in proper working order for the ...Read post

  • Leverage Your Biggest Brand Advocates to Increase Sales

    In today’s fast-paced world, it’s hard for businesses to cut through the noise. Consumers are bombarded with advertising messages across all mediums from companies that claim they, or their product, is the best. Generally, these messages go in one ear and out the other.   So, how do you get the attention of today’s message-fatigued consumer?   It’s a well –known fact that people do business with people and companies they like.  Think of all of the Disney fanatics, Starbucks loyalists and Nordstrom shoppers. They experienced a magic, or some sort of experience, that resonated with them. Who knows exactly how a customer becomes a brand advocate. The point is that they did. Every business wants customers raving about them to their friends, family, associates and others, through social media posts.   True brand advocates are typically those customers that have had great experiences with your dealership.  However, the tricky part is that potential customers don’t know ...Read post

  • The Best Web Presence is the One that Represents Your Dealership Properly

    One of the things that I do now more than ever is listen to other vendors pitch their products. I hope this post doesn't scare any of them from reaching out to us; don't worry, I'm not naming names. I'm focused on a particular practice, not the practitioners. The practice I'm talking about has many faces. Some present it with fear by telling dealers that if they're not participating in the latest fad or growing trend that they're missing out on business. Others put on the face of trickiness and present their products as a way of getting around this system or that roadblock in a slick manner. The most common face they put on their product is one of simplicity as they demonstrate how their service magically gets them in front of billions of local car shoppers. They're all talking about presence. Being present on a network, website, device type, ad platform, or vertical search property is great, but the one thing that I don't hear nearly enough is about how the dealership is portrayed...Read post

  • The Good. The Bad. The Ugly. The Crazy?

    How would you classify the results from your website specials? If you can honestly say that you are seeing GOOD results, chances are the process needed to get you there is UGLY. It’s a time consuming and pull-your-hair-out undertaking. If you are seeing BAD or UGLY results, then you might say that the process isn’t all that bad…why? Because you aren’t doing it! You either:  don’t believe that great specials pages can and will yield great results, or  you are just too busy to maintain them and the process is too overwhelming I sincerely hope that the majority of you who have ugly specials pages, or non-existent ones, fall under the latter category. Otherwise…well…you officially fall under the CRAZY category. Ugly, in this case, is fixable. Crazy is another challenge altogether. Read post

  • Digital Marketing tips for non-failure

    There are many digital marketing success articles out there, but not many focus on simply what not to do - which can be equally as important.  While most modern businesses should have digital marketing campaigns to acquire business, many will not understand whether the marketing is working, or even what kind of value they should be seeking from each channel. One digital marketing mistake to avoid is getting too caught up in the results of marketing tactics used, and not confirming that those results align to a business strategy.  A strategy would be comprised of an overall goal of the marketing such as gaining 25% sales growth by increasing online visibility, while tactics are the methods used to achieve said goal.  Many marketers get bogged down in rankings increases, high click through rates and high levels of engagement on social media while producing zero advancement towards a business goal. The reverse is also true.  Many digital marketing mistakes originate from companies w...Read post

  • New PostFacebook, YouTube and Instagram Upgrades

    Social Media News for the Week of July 27, 2015 New Facebook Video Tools for Businesses This week Facebook delivered updates to make up for some of the limitations released earlier in the year. The new video library gives users a centralized location to store and organize videos.   Improved upload flow now offers users the ability to customize video distribution options in order to reach a more targeted audience. For automotive dealerships, this offers yet another opportunity to reach a specific audience when it comes to sharing straight-off-the-lot news and updates. Facebook Secret Videos Users now have the added capability to add secret videos accessible only through a direct URL and aren’t searchable on Facebook. This is great for users who want to use Facebook to host videos to embed on third-party site, or share them with anyone who has the URL.  Direct your audience to a private video containing special offers or upcoming events without having to post it anywhere ...Read post