News and Announcements

Message from the President/CEO

Dear Member,

If you’re looking to purchase a vehicle, I would like to share some information with you from the Federal Trade Commission website. To view more on this topic, click HERE.

Deceptive Car Ads

Here are some claims that may be deceptive – and why:

  1. Vehicles are available at a specific low price or for a specific discount. What may be missing: The low price is after a down payment, often thousand of dollars, plus other fees, like taxes, licensing and document fees, on approved credit. Other pitches: The discount is only for a pricey, fully-loaded model; or the reduced price or discount offered might depend on qualifications like the buyer being a recent college graduate or having an account at a particular bank.
  2. Only $99/Month. What may be missing: The advertised payments are temporary “teaser”payments. Payments for the rest of the loan term are much higher. A variation on this pitch: You will owe a balloon payment – usually thousands of dollars – at the end of the term.
  3. Zero or Low Rate Loans. What may be missing: The low advertised annual percentage rate (APR) may apply only to loans up to a certain amount – which may be a lot less than the purchase price. You will pay a higher APR for loans financing higher amounts. A variation on this pitch: rates may not be stated as “APR,” meaning the advertised rate may not reflect the true “annual” cost of financing, and may exclude certain costs required to be included in the APR.
  4. $0 Due at Lease Signing. What may be missing: The fine print indicates that additional fees – sometimes several thousand dollars – are due at lease signing.
  5. You’ve Won! What may be missing: The prize. This is just a tactic to get you into the showroom.


John J. Shirilla

Are Car Ads Taking You for a Ride?: Retrieved May 10, 2017, from

If you have a question or comment and would like to share it with the President/CEO, you can email him HERE.  Your security is our top priority. Please do not include personal information in this email; such as your Account Number or Social Security Number.

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