Some Specific Advertising Rules For Ohio Auto Dealers
Frequently Ignored Rules Of Advertising By Ohio Auto Dealers
The list of frequently ignored rules of advertising by Ohio auto dealers could arguably be as long as the list of rules itself. There seem to be any number of dealers that have chosen to comply with only certain portions of the rules and ignore the rest. However, there are some basic rules that many Ohio auto dealers have recently failed to comply with. Set forth below are just three examples.
Closed End Credit (Purchase) Transaction
In any advertisement involving a sale, the type size or print size utilized to disclose:
- the amount of any down payment,
- the number of payments, and
- the annual percentage rate,
must be at least one-half the type size utilized to disclose the amount of any monthly payment. This means if the advertisement states "$ 299.00 Per Mo." in one inch high print, the smallest size print a dealer can use to advertise the down payment, the number of payments and annual percentage rate will be one-half inch.
Lease Transaction
In any advertisement involving a lease, the type size or print size utilized to disclose that:
- the transaction is a lease,
- the down payment, and
- number of payments,
must be at least one-half the type size used to disclosed the monthly payment. This means if the monthly payment of "$199.00 Per Mo." is in one inch high print, the smallest size print a dealer can use to advertise the down payment, the number of payments, and that the transaction is a lease must be in at least one-half inch size print.
Who is No 1?
Any dealer that claims to be "No. 1" in their ad must already possess the documentation to support that statement prior to running the ad. Therefore, if a dealer states in the advertisement that they are the "No. 1 Chevy Dealer for Fayette County" that begin running on January 1, 1997, the dealer must have written documentation dated no later than January 1, 1997 stating that they were/are the No. 1 Chevy Dealer in Fayette County.
How Do I Get More Information?
Blackstone Legal Publications, Inc. has printed a manual designed for auto dealers and lawyers that describes all the various rules a dealership must comply with.
