protection products as a “package” to a consumer to distinguish the value it can provide to the consumer, who would be comparing it to other dealerships. The dealership would have to “clearly and conspicuously” advise the consumer of the “cash price” as well as any discounts, rebates, trade evaluation and required government charges separately. Remember, West Virginia documentary fees are not “required government charges.” Be careful about confusing the two. Only after the dealer obtains a signed written declination from the customer stating they do not wish to buy only the car can the dealer discuss addon products and services. That is correct: you would have to have the customer decline, in writing, purchasing the car before discussing voluntary protection products. The rule would then require the dealer to address each add-on product or service separately and disclose each price clearly and conspicuously before moving on to the next addon product or service. This is fraught for honest mistakes in which no one is harmed or misled. The National Automobile Dealer Association (NADA) and most state associations have submitted opposing comments. I hope you have also taken the time to voice your opposition to these regulations, as numerous statutory and common laws prevent the actions that the FTC is attempting to control arbitrarily. Of course, all these arbitrary steps and requirements are being mandated in a market where the brick and motor vehicle dealer is pressured to streamline the retail process and make retail transactions more efficient. I believe it is reasonable to predict that the proposed FTC rules will not only increase the cost of a motor vehicle and voluntary protection products to the consumer but will also require new forms to be created and old forms to be modified to comply with the express informed consent language within the rule. These rules counter how a consumer wishes a motor vehicle transaction to occur these days. I also believe that the FTC rule ignores the reality that the overwhelming majority of motor vehicle purchasers have purchased many cars over their lifetimes and are familiar with the process. To place an additional burden on these sophisticated consumers who regularly engage in financing transactions is unnecessary and duplicative of existing law. I apologize in advance for the serious tone of this article, but again, overzealous and arbitrary regulations are being imposed on our industry. The West Virginia Dealer’s Association is closely monitoring this and will keep you advised as this proposed rule proceeds. The Association stands ready to assist you in any efforts to comply with existing and future regulations. Brokerage | Leasing | Appraisal | Consulting 304-840-1781 | Quintie Smith at INVS@aol.com | 3818 MacCorkle Avenue SE Charleston, WV 25304 Office: 304-925-7000 | Website: realcorpinc.com An unmatched level of knowledge and experience in the real estate market. Commercial Real Estate Issue 3, 2022 13 WVADA
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