CHARIMAN'S MESSAGE continued from page 6 The State of New Jersey does not regulate the professional service fees charged by lawyers, accountants, doctors, contractors, landscapers, barbers or dozens of other regulated professions serving the public. One of the primary benefits of a free market is that informed consumers can shop for the best deal. Dealers are already required to disclose their Doc Fees in two ways, with a possible third required disclosure if S1031 eventually becomes law. The 500+ franchised new car and truck dealerships in New Jersey provide consumers with fierce inter-and intra-brand competition for sales and service. Doc Fee disclosures give car buyers ample opportunity to shop around and get the best deal on the vehicle they want and the Doc Fee they’ll pay. NJ CAR conducted a Doc Fee survey in midFebruary, with 175 dealerships (35% of all dealers) participating. The survey found that 43% of respondents (75 dealers) had a doc fee between $400 and $500, and nearly 80% had a doc fee in the $300- $600 range. A small percentage reported a doc fee below $300 or greater than $600. Hudson, Union and Morris counties had the highest average Doc Fee, while Cumberland, Cape May, Camden and Gloucester counties had the lowest averages. Government should not cap what a business charges for the professional services it provides. A cap on what dealers can charge for a Doc Fee doesn’t come with a cap on the cost of providing those services. Inevitably, a government mandate that caps Doc Fees will force some dealers to charge higher prices for the vehicles they sell to cover their costs and earn a fair return on their investment. DOC FEE DISCLOSURES GIVE CAR BUYERS AMPLE OPPORTUNITY TO SHOP AROUND AND GET THE BEST DEAL ON THE VEHICLE THEY WANT AND THE DOC FEE THEY’LL PAY. N E W J E R S E Y C O A L I T I O N O F A U T O M O T I V E R E T A I L E R S I S S U E 1 | 2 0 2 2 8 new jersey auto retailer
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