Announcement FYI News Scams Tips

FTC Takes Action to Stop Deceptive Car Dealership Ads

By on March 19, 2012

You’ve probably seen ads that claim that a car dealer will pay off your loan regardless of what you may owe.  In a sense this is true, however, in some cases, what happens is that the remaining balance of what you owe  is rolled into the new loan.  As a result, you’re still paying on the previous loan while now paying on your newly purchased vehicle as well.

The FTC took action regarding offers by five dealerships: Billion Auto, Key Hyundai, Hyundai of Milford, Frank Myers AutoMaxx, and Ramey Motors.

For more on this FTC action, you may visit and

The BBB suggests you read all terms and conditions of any offer regarding vehicle financing.  Make sure you understand all aspects of any loan, insurance, and credit terms for purchase and leasing.  For more information you can trust, visit