Improving Auto Sales and Finance Policy

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Improving Auto Sales and Finance Policy

• John W. Van Alst
• National Consumer Law Center

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Problems in the existing market Currently
consumers face many hurdles when trying to buy,
finance, and keep a reliable car

• Unfair Sales Tactics
• Condition of the Vehicle
• Yo-yo Sales
• Dealer Markups

• Undisclosed Damage
• Dealer Add-ons
• Unfair Repossessions
• Dealer Bankruptcies

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Condition of the Vehicle

• The Problem
• Serious Mechanical Problems
• Salvage Vehicles
• Unsafe Vehicles
• Solutions
• Prohibit As Is Sales
• Used Car Lemon Laws
• Disclosure of Known Defects
• Right of Return

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Unfair Repossessions

• The Problem
• No Procedure to Dispute Default
• Deficiencies
• Death and Injury
• Solutions
• Prohibit Self-help Repossession
• Notice of Default- Right to Cure/ Dispute
• Enhanced Regulation of Repossession

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Dealer Bankruptcies/Closings

• The Problem
• Dealers Closing in Record Numbers
• Trade-Ins Not Paid Off
• Difficulty in Obtaining Title
• Solutions
• Consumer Compensation Fund
• Increase Dealer Bond Requirements
• Additional Protections On Trade-In Payoffs

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FUELING FAIR PRACTICES A Policy Guide for
Advocates for Change

• Goal To provide advocates with the resources to
  bring about effective policy change
• Focus To develop practical policy improvements
  to protect low-income car buyers

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LISTSERVhttp//lists.nclc.org/subscribe/

• Encourage collaboration and growth within the
  fields of low-income car finance, sales, and
  ownership
• Highlight promising practices and innovative
  solutions
• Provide a forum for sharing questions and
  addressing mutual challenges
• Encourage improvement in public policy and
  advocacy for low-income car finance, sales, and
  ownership
• Promote resources, research, conferences,
  relevant materials, and job opportunities
• Encourage networking and relationship building
  within the field

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Contact Information

• John W. Van Alst
• National Consumer Law Center
• jvanalst_at_nclc.org
• 7 Winthrop Square, 4th Floor
• Boston, MA 02110-1245
• [phone]