May 14, 2021

Attention heats up on Cooling-Off Rule

While a pivot to remote sales and home vehicle deliveries has provided greater convenience to consumers, the approach could expose dealers to a nearly 50-year-old federal law that regulates their ability to conduct a sale at a setting other than their permanent place of business. …

Illinois rate cap law spurs lending debate

The state’s Predatory Loan Prevention Act places a 36 percent cap on all consumer loans of less than $40,000 and includes guaranteed asset protection products sold on vehicle purchases as part of the interest rate calculation — a major detail that makes the law significant for franchised dealers in the state. …