FTC compliance means the dealer has to follow federal rules about how they advertise and sell cars. It’s mainly about being honest with pricing and not using misleading sales tactics.
Price transparency means the price you see in the ad should be the real price you’ll end up paying. It’s about making sure required fees and conditions aren’t hidden until later.
Required fees are mandatory charges you can’t avoid if you buy the car. The FTC wants those fees included in the advertised price so you don’t get surprised at checkout.
Rebates or discounts are deals that may only apply if you meet specific requirements. The FTC wants ads to avoid using those “maybe” discounts to make the price look lower than it really is for most people.
A required down payment is the upfront money you have to pay to get the advertised deal. The FTC wants dealers to avoid advertising a price that only works if you pay a certain down payment.
“Ghost vehicles” are ads for cars that seem real, but the car isn’t actually available to buy like the ad suggests. It’s basically a bait-and-switch style of listing.
A dock fee (sometimes called a vehicle processing fee) is a dealer charge tied to moving the car from where it’s delivered to the dealership. Under price transparency rules, it should be included in the advertised “total price” so buyers can compare offers fairly.
A processing fee is an extra charge the dealer adds for getting the car ready and handling the sale paperwork. The FTC angle is that it should be shown in the advertised total, not sprung later.
Dealer fees are extra charges the dealership adds to the car price. The key point is that these should be included in what the buyer expects to pay, not left out of the ad.
“Total price” is the full amount you should expect to pay for the car, including required dealer charges. It’s the number you want to compare across different ads.
The Wall Street Journal is a well-known news outlet. In this episode, they’re mentioned as the publication that reported on the FTC’s action against hidden car dealer fees.
Car Edge is a tool that helps car shoppers understand pricing. Here, they’re saying it compares what dealers advertise versus what people are actually quoted.
An itemized quote lists the costs one by one instead of just one total. That helps you see exactly what fees you’re being charged and compare offers more fairly.
Third-party marketplaces are websites that help you shop for cars, but the dealer is still the one selling the car. The concern here is that the price shown online may not match what you’re actually charged later.
Training here means teaching dealership employees how to handle customers in a way that follows the rules. The host also says the dealership owner has to set the right approach, not just rely on employee training.
An enforcement action is when a government agency takes formal action against a business. It usually means the agency believes the business broke the rules and can impose penalties or require changes.
Compliant means meeting the requirements of applicable laws, regulations, or agency guidelines. In this segment, the point is that dealer training alone isn’t enough if the dealership’s leadership culture and customer-treatment practices don’t actually align with what the FTC is targeting.
The Federal Trade Commission is a U.S. government agency that can investigate and take action against businesses. The host is saying the dealership can still get punished even if it removes the employee involved.
This dealership group agreed to pay back customers after regulators accused it of taking advantage of them. The host says the amount could be as high as $75 million.
At the end of a lease, you can sometimes pay the agreed price and keep the car. The host is saying regulators were concerned about how some dealers handled that process.
The host says some Nissan dealerships in New York were accused of being unfair when customers tried to buy out their leases. It’s about how the deal is handled at the end of a lease.
The phrase means running a dealership by the rules—especially around how you advertise and sell. The point is to stay legal without making the business unprofitable.
The host is talking about dealer websites that list prices. The idea is that some systems didn’t let dealers show pricing information the way they could now.
Chevy Chase Automotive is the dealership business the speaker says Sam Weaver is with. It’s mainly there to identify who the person is in the conversation.
Chevy Chase Acura is a dealership brand/location referenced as receiving an “A grade” from CarEdge. The speaker uses it as an example of a dealer that’s already aligning with the episode’s theme: transparent pricing and fair practices.
Carvana is a company that sells used cars mostly online. The hosts are saying traditional car dealers feel pressured by Carvana’s way of doing business, especially around pricing and transparency.
Here, “transparent pricing” means the dealer should clearly show what the car costs and how the price is made up. The point is to avoid tricks that make the deal look better than it really is.
This means a dealer might make the car look cheaper than it really is by focusing on a number that isn’t the full story. The speaker is saying dealers should stop using those kinds of misleading pricing tactics.
This is a common phrase meaning “reward good behavior” versus “punish bad behavior.” The speaker is saying the industry should focus more on incentives for fair pricing rather than just enforcement.
This is a U.S. group that represents car dealers. In the episode, they’re talking about how dealers share pricing information and how that affects shoppers.
A “transparency index” is a metric or scoring approach used to quantify how openly a dealer shares pricing and deal terms. Here, it’s discussed as something NADA wants to understand so they can use the data to show why transparency is commercially viable.
The “Fair Pricing Summit for Auto” is an event focused on pricing practices in the auto retail industry. In this segment, it’s used as the setting for discussions about transparency, online pricing, and third-party listing sites.
Washington, DC is the U.S. capital where federal agencies and policymakers are based. The segment mentions the summit there alongside discussion of what the FTC is watching, linking the location to regulatory oversight.
Third-party listings are vehicle advertisements or inventory pages hosted by companies other than the dealer itself (e.g., online marketplaces). The speaker frames them as a major influence on how pricing and “deal” value are perceived by consumers.
Online pricing refers to how vehicle prices are presented on websites and listing platforms, often including advertised discounts, fees, or “starting at” numbers. The segment treats online pricing as a key battleground for transparency and for avoiding misleading “great deal” claims.
Cars.com is a major online automotive marketplace where shoppers search for vehicles and dealers list inventory. The speaker criticizes these third-party platforms for labeling listings as “great deals” when they may not be.
CarGurus is an online car-shopping platform that aggregates dealer listings and uses its own scoring/insight tools to help buyers evaluate prices. In this segment, it’s grouped with other marketplaces the speaker believes mislead consumers with overly positive “deal” framing.
TrueCar is an online car-shopping marketplace that historically promoted “pricing” or “offers” to help buyers find what it calls fair market value. Here, the speaker criticizes third-party sites like TrueCar for labeling listings as great deals that may not actually be.
Auto Trader is an online vehicle listing marketplace. The speaker includes it among third-party platforms they feel have harmed both dealers and consumers by using “deal” language that may not be accurate.
LIVE
It's noon here in Ventner City, New Jersey and our nation's capital Washington D.C., and this is
Carnage Live for Tuesday, June 16th with your hosts, me, Ray, here in my living room in Washington,
and Zach, outside of the Fair Pricing Summit in Washington D.C., bad connection and all,
he's here, he's ready to give us some update, reporting as to what the hell's going on there.
How are you today, handsome? I'm doing fantastic, man. Can you hear me okay? I apologize in advance
for the internet connection. I'm doing the best I can. Today's show, folks, is brought to you by
caredge.com. For those of you that are unfamiliar, me and my dad, or should I say my dad and I,
and our incredible team, have been providing support through the car buying process for six
years now, including grading car dealers nationwide based on how transparent they are,
which dad, if I may, I am sitting here at the Salamander Hotel in Washington D.C. This afternoon,
I will be joined by Senator Bernie Moreno, who is doing a speaking presentation here about
fair pricing in the auto industry. Man, oh man, I was just in the room with a bunch of car dealers.
I got the mic for a second, and the dealers sitting next to me, the owner or one of the operators,
excuse me, of Chevy Chase Acura. Man, it was a breath of fresh air that they have an A grade
over on caredge.com, because that was nerve-wracking, man. I gave them a high five, because holy cow,
I'm in the room today with car dealers, the owners, the operators,
and I've made it out unscathed thus far. But dad, we're talking about the FTC compliance and all
the things related to that, so we'll spend today's show talking about it. Shady car dealers are done,
and wow, am I seeing and learning a lot today, being in the room with all these folks?
Well, what exactly? Not to sound like a professional interviewer, because, well,
that would be impossible, because neither an interviewer nor a professional. But what is it
that you have heard in the conversations that you've been having with some of the dealers there,
as to their thoughts on what the FTC is trying to bring about and enforce?
Yeah, so to set the stage for everyone, and maybe I'll give you the opportunity to do this,
that the FTC is trying to bring about six rules. The biggest one that we're spending time on today
is price transparency, and that price transparency is all about the price that's advertised needs
to be the actual price of the vehicle. There are some other things as well around you can't
advertise cars that aren't actually for sale and things like that, but a big sticking point today
has been around, is it the actual price of the vehicle? And so there have been different... Well,
actually, Deb, before I go on, do you agree that that's kind of the general gist of what the FTC
is trying to do here? Yes, if you'd like, I'll go over the six points real quickly.
Here you go. Advertising a price that does not reflect all required fees. So you can't just advertise
a price and not tell the folks what all the required fees are going to be. Advertising a price
that reflects rebates or discounts that are not available to everyone. So you can't combine in your
advertised price first responder, recent college graduate, whatever other incentives there might
be that maybe one person in 30 million might qualify for. You can't advertise a price that
fails to take into account the amount of additional required down payment. So you can't say the price
is X, but it's X because, well, you as the customer had to put $2,500 down. You can't
conditioning the advertised price on consumers using the dealer's financing.
The price is the price, whether you finance through the dealer or pay cash. However, it is you pay for
requiring consumers to buy additional items, not reflected in the advertised price,
and advertising unavailable were nonexistent or what's known as ghost vehicles. But the primary
aspect of all this is price transparency. You have to advertise the price of the vehicle
plus any dealer fees. For instance, just about every dealer has a dock fee or a processing fee.
So the selling price should be listed plus what the dock fee or processing fee is. And then there's
total price that the customers expected to pay.
Yep. So those are the six rules that the FTC has made very clear that they plan to enforce. And
again, for context, the reason I'm sitting outside today is I'm at an industry event. I had to pay
$1,000 to have to be in this room, which is, you know, I'm very grateful we can expense it to the
business, but that is no small sum of money. And to be clear here, the leaders of the automotive
industry, including one of our US senators, Bernie Moreno is speaking this afternoon,
are here talking about the impacts of the FTC's work. And I will also share yesterday,
the Wall Street Journal, released an article, the FTC cracked down on hidden car dealer fees.
They're still happening. Anyway, car shoppers can face thousands of dollars in opaque fees,
but the industry is working to adapt. I'm incredibly proud, Dad, you know, right here that
car edge is mentioned in this article, Car Edge, another car buying aid, analyzed price quotes
for more than 10,000 new and used dealers that found meaningful differences between the advertised
price and actual price, itemized quotes for nearly 40% of dealers. That is only among the
dealers that provide itemized prices and writing. Most don'ts at Zakshevska Car Edge's chief executive.
There is still endemic price misinformation on the internet. So, you know, there is a lot
of energy around this right now. And the sessions that we've had thus far, Dad,
have been really, really interesting. I'll share with you, you know, these are the sessions that
I've sat in on thus far, and I will just let everyone know. People know Car Edge. Like, we,
as a community, I'm looking at all of the comments that are coming through in the chat here.
You know, me and my dad are the face of this, and we are incredibly humbled by that.
But you, each of you that tune in and participate in what we do here at Car Edge,
you are known. You are heard. You have a voice in this room, which is really incredible. So,
the first session, Dad, the FTC's enforcement playbook, what dealers need to know right now.
I took a lot of footage from this session, and I think we'll make a video on it. You know, it was,
it was, it was actually frustrating for me to listen to this one, because a lot of it was like,
hey, we just got to train people better. And I don't mean that as a slight to the,
to the presenters. But it was like, yeah, a lot of like, we need to train people better.
And I think it's more systemic than that. I think it's like, I think the third party
marketplaces are to blame. I think training people is one part of the equation. But yeah,
so that was an interesting one was like, okay, a takeaway I had was, you know, there was a member
from NADA who, who was a part of this, a man named Bennett, this guy, Brian, excuse me.
Brian. Yeah. So Brian is, is represents NADA. And he was there and he said,
this is real. And it's not going away. You know, they've talked to the head of the FTC,
the head of the FTC's consumer arm, you know, they, he said it's real. And so that really did
stick with me. Like this is, the administration has been very clear with them that this is
something they're passionate about. And they've also, Dad talked about how they've done it in
other industries as well. So that was the takeaway I had from the first one is training
seems to be a hot button issue, which again, I, I agree with and think there's a lot more to it.
And NADA and industry are taking this very seriously. They expect this to be more enforcement
action soon. Well, I will, I will tell you from having spent 43 years in retail automotive,
that every issue that there is, there, there is a consultants firm, consultancy firm out there
that will offer the appropriate training that your staff will be required to go through
to show that as a dealership, you are doing everything that you possibly can to stay within
the guidelines that have been set up for you. And yes, training is important. Every, every
member of the team in a dealership needs to understand this, whether you're working in parts
and service or whether you're in sales. But if I may, it starts a little higher up than that.
It starts with the owner or the dealer principle. And if the dealer principle just thinks that,
okay, well, we'll get everybody trained and we'll continue to do everything we've always done,
that, that's, that's not solving the, the, the issue. That's not, that's not really being
compliant with what the FTC is after. So part of it has to be dealer owners and dealer principles
need to change their thinking as to how they want to treat their customers.
So that was another part of the discussion with this group was, you know, what happens
if an employee does something that the FTC then, you know, finds that they can do an action against
and we fire that employee, are we, are we in the clear? And the answer is no. Like the dealership
will get one of these actions from the Federal Trade Commission. Now, what is interesting,
and one of the things that I was thinking about during this presentation, which again,
for those of you that are just joining the show now, I am sitting outside of a hotel,
I actually don't know where in the hotel I'm sitting, but it's the Salamander Hotel,
this beautiful hotel in Washington DC for the Auto Leadership Summit on Fair Pricing and Compliance.
Yeah, I had an incredible moment during one of the presentations where I did Q&A and I was the
second person to get the microphone and you know me, I can't, I can't help myself but talk.
And the first presentation that I sat in on this morning was, was this one on the FTC's
enforcement playbook, what dealers need to know right now. The other thing that was fascinating
as I listened to this conversation, dad, is I was thinking the FTC is the federal enforcement arm here.
And last time I checked, these actions only take place when a state attorney general also,
a state's attorney general, excuse me, also gets involved, which had me thinking about Pops,
someone that you and I are very friendly with, a woman named Erin Witte, who used to work at a
consumer advocacy nonprofit who is now senior counsel at your home state, the New Jersey
office of the attorney general. She posted this on LinkedIn yesterday, the junk fees era is over
in New Jersey, Attorney General Davenport and Governor Cheryl teamed up today to make it crystal
clear that we are done letting junk fees fuel the affordability crisis, frustrate New Jersey
residents and stifle honest competition. And they had a whole enforcement statement about this on
their website. So the conversation I was listening to, again, with a representative from NADA,
a compliance company and a lawyer up there was like, yeah, the FTC is part of this,
but it's also up to state AGs to decide that they want to take action, which I think for now,
a lot of people are still thinking won't happen that quickly. So there's a little bit of a window
here to become compliant. And that's an energy I'm feeling in the room is an urgency to become
compliant before the state AGs, like for example, New Jersey, do press releases like this one saying,
well, you just froze there young man, I don't know why, but hopefully you get your internet
connection back. I will say this, every it is up, it is up to the consumer affairs division of the
state attorney general's office in every state to enforce the rules and regulations that are
already in place. Now we have seen over the last few years instances where there have been
actions brought Illinois and the FTC brought an action against the Napleton group, I think it was
three years ago, where Napleton was was charging for fees and and taking advantage of of people
that they shouldn't have been. And I believe that was a a $10 million settlement.
We know the passport group in the Delaware, excuse me, DC, Maryland, Virginia area
was fined a couple years ago. We know just recently between an action from the Maryland
state attorney general and the FTC, the Lindsay automotive group that is headquartered in the
Virginia DC, Maryland area has agreed to reimburse the customers they took advantage of
up to $75 million. That's a that's a sizable enough sum to get somebody's attention.
We know that there's a situation in New York with the Nissan dealers and them taking advantage of
people buying out their leases. So there can be and should be more actions than there are,
but the actions that we've seen have been pretty damn successful when you look at it.
I think the actions are absolutely changing behavior within the auto industry. And I think
again, the takeaway for me was, okay, the FTC plays a role here for sure. It will come down to
the state's attorneys generals to actually do the do the actions here. It's fascinating. I'm
sitting outside and evidently the lunch service has begun. So there's some some people now sitting
around me. So this will be a fascinating live show. Then the next session that I sat in on was
the dealer's perspective running a compliance store without killing the deal. What was so fascinating
here is there were three dealer operators up on the stage. Kevin Fry is the marketing director at
Jeff Weiler Automotive Family Dad. He is one of his dealership group is one of the dealerships that
was named in the FTC's letters to 97 dealerships. So it was incredible to hear him talk about what
has evolved at his dealership. And quite frankly, some of the challenges that all of these operators
have noted, which is none of the systems that they integrated into, for example, like websites that
show pricing or things like that, gave them the option to even show this stuff in the past. So
not to not to downplay the challenge of being transparent, but it was so eye-opening to see
someone up there on stage who has been dealing with this, who if I'm not mistaken, said his
general counsel is in the audience with them, which is crazy. But is there trying to figure out
how to become transparent in this marketplace? And that was really interesting. Then the other
gentleman who was sitting next to me, actually, I didn't even realize this, this man, Sam Weaver,
from Chevy Chase Automotive. Again, I had an opportunity to speak a little bit. And I can
just tell you that I was really, really, really nervous when I was talking because I'm in a room
full of dealers. Fortunately, Chevy Chase Acura gets an A grade on car edge. So I gave him a
little high five, like, okay, you're doing things right. But that was interesting to hear these
dealers. And then Brian Benstock, who's really influential in the auto industry, all of them
made it clear. Carvana is a threat to the business. They haven't seen it show up yet in their sales.
But if there was ever a time to wake up and start operating differently, it's now. And so there was
really strong energy from these three to say, okay, let's finally do it. Let's lead with transparency.
So that was really inspiring for me to hear. And it made me feel like our voices as a company has
been heard. Well, it would be nice if it is heard. And it would be... I think it's being heard.
And it would be nice if it brings about action where the dealers finally realize that
they don't have to necessarily compete on price. They have to be transparent in their pricing.
They can't utilize ways of showing an artificially lower price than their competitors.
They'll have to compete on other things. And so it would be nice for the vast majority of dealers
out there to understand that and start figuring out the ways that they can differentiate themselves
from their competitors that will allow them to attract more customers, as opposed to just price,
price, price. And this is what was so fascinating from Roger here. As Pop says,
carrot versus stick, get a large stick out and use it on these, not enforcing or obeying the past
laws. The carrot here is if I lead with transparency, I can maybe be a better, a more profitable,
faster growing dealership and look no further than Carvana, who if I'm not mistaken,
today is opening yet another dealership in Dallas. So I think we're going to get that news tomorrow,
at least the rumblings I've heard is that Carvana is opening yet another dealership. The stick here
is the FTC saying for every day that there's a penalty, it could be $50,000.
Yeah, it's $53,000 per incident.
So again, to be clear here, there's a great carrot, which is okay, we could maybe grow faster,
be profitable, be more efficient by being fair, transparent. Or the stick is we could end up spending
lots of money in an FTC enforcement, which they're saying now and are demonstrating will be real and
is real. So it's a fascinating moment to be in the room with these car dealers up on stage,
hearing them talk about this with sincerity of, okay, it's changed, the industry has changed,
this is an inflection point for auto. We either got to do it or get off the pot and I think they're
Well, I would be thrilled if they did. This is obviously something we've championed for
over the six years we've been doing this nonsense. And what I mean by that is we have
always suggested to those dealers that might want to listen, that if you operate in an open,
honest and transparent manner, that you can actually sell more cars to more people more
efficiently while cutting your costs, so that ultimately you end up being more profitable.
This seems to me to be an indication to many of the dealers out there, especially the ones that
are worried about Carvana, that maybe there's something to that that you really can make more
money if you're open, honest and transparent. I've been sharing with people all day dad,
go on Google, type in, we're here in Washington DC, type in best Toyota dealers in Washington
and scroll on down and you're just going to start to see car edges quoted everywhere.
If I go back to the normal mode, the first link here is that car edge. There is an incentive here
which is this community of us, the people that show up at car edge live, the people that go to
caredge.com. The thing that you and I have spearheaded for six years and represents millions
of people annually, we want transparency. It's really humbling to be here. I can't believe it,
and to be in the room and to have these conversations going on, to feel like I
helped shape some of it or I'm in the process of helping to shape some of it with my dad,
representing people that we love. It's incredible, man. It's incredible.
Have any of the dealers that you've spoken to badmouthed you yet?
No, I have had only positive experiences. I was in the bathroom and I'm washing my hands and a
gentleman says, I love what you and your dad are doing. I said, oh, who are you? Oh, I've run a
CDJR store in upstate New York. Incredible. I've had experiences like that all day long.
Representatives from the National Automobile Dealers Association, incredibly positive
conversations. Hey, can you help me understand your transparency index so that we can understand it?
Wanting to do really creative things with the data that we have to help them inform
why and what would I keep saying? Why it's commercially viable to be transparent? So no,
it's been incredibly positive. And I think as a testament to anyone out there,
put yourself in uncomfortable positions. Sunday, I did a half Ironman. That was pretty
uncomfortable today on that Fair Pricing Summit for Auto in Washington, DC with the biggest heavy
hitters I've ever been around, dad. And it's uncomfortable. And you know what? We belong at
this table and it is incredibly humbling to represent you, me, our family and our business
and our community by being here. There was one more session that I sat in on and then
I should probably go get some lunch. But advertising in the crosshairs,
online pricing, third-party listings and what the FTC is watching.
This was so fascinating because the resentment that I feel towards incumbent third-party market
places like cars.com, car gurus, auto trader, true car, all of them, car facts is that they
have done a disservice to the dealer and to us as consumers by labeling things as great deals
when they're obviously not. And so to be a part of that session and listen to it, it's like, yeah,
everyone hates us. It was so inspiring to me. It's like, cool. So why don't we change it?
And I think that's going to drive the change, dad. People are really in this room fed up
with these marketplaces and how they've supported them or lack their up support
to be more transparent and fair. And people have used the word level playing field a lot today.
And obviously, that rings true with you and me.
Well, yeah, the whole concept of why we started doing what we're doing was to
information asymmetry and your desire to level the playing field for those people out there
so that it could be a little easier when they're navigating the car buying experience.
It's nice to hear that dealers are at least open minded about it.
And it's, you know, one of my major complaints that I had in all the years that I was in retail
automotive was that dealerships and dealership personnel always felt like they didn't need to
actually have a conversation with the customers to understand what it is that the customer wants
or needs or desires. It was always as if these dealership people,
we don't need to ask the customer, we know what they want. Let me tell you what you want.
And it was like they were never open minded enough to try and see the transaction process
through the customer's eyes. They could only see it through their own eyes. And so it's just,
it's heartening to hear that maybe, just maybe they're willing to look at this through a different
set of eyes and figure out a different way of doing things. You know, this is the second most
expensive purchase people make in their lives. And if you polled 100 people, 98 of them would say,
I hated the experience. I hate what I had to go through. Why when I'm spending that kind of money
should it be so unpleasant? And, and if, if that's the case, and we know it is,
then it's, it's really time for the dealers to do something differently.
But again, what was so interesting about that session is a lot of the blame I personally believe
and heard in that room also goes on the ecosystem that supports dealers. I said it out loud. I think
there's a video clip of it in the room. I have yet to call up an owner of a dealership dad or
talk to you and have you or that owner say to me, yeah, I woke up, woke up that morning,
I want to screw customers over. I've, I've yet to meet someone even even dealers I talked to in
Florida. And so do they do that? Absolutely. It happens. We have data that objectively demonstrates
it and it's auditable and traceable and unopinionated. So of course it happens. We have FTC actions
that demonstrate this as well. And I think it is a worthy pursuit to go beyond the name calling and
saying it should be better and build tools and build a platform that actually empowers it to be
commercially viable, to be better, to make it so that these dealers have an incentive
to be better. And so it is super humbling to be here and to hear that there are other people
who think similarly. And it's because of the work I get to do with you dad and have been doing with
you for six years. It's because of our incredible team. And it's because of our community that
inspires me and you to wake up every day and keep fighting the good fight.
Have you run into any dealers who have, who have are aware of our dealer transparency index
have seen their scores, their, their grade and, and have feel as if they've, they've let themselves
and their customers down because they just weren't as transparent as perhaps they could or should be?
Absolutely. And it's been so fun for me to explain to them the grading methodology,
which is just is the price, you know, what the price is that it was going to be.
And then to explain to them that, no, you cannot buy a better grade.
It's so, it's so fun. And everyone gets it. Even the people that have bad grades, they get it.
And they appreciate, that's why everyone appreciates the, the principle of it. And I
think that has a huge potential to bring about change in this industry.
Yeah, because I would say this, if, if our desire was to really, really, really get rich
doing this, well, then selling A grades would be, would be the way to do it, you know, because
dealers would gladly pay to get that A grade. But the fact that they would actually have to
change their, their, the way they do things in order to get that grade, I think that,
that makes much more sense. And, and you know, what, as long as, as long as we're comfortable,
we're all right. I don't even like, I understand it for demonstration purposes,
but I don't even like thinking it bad. It's, it's so unethical and would be entirely
void of our purpose. And yeah, it's, it's so awesome to be in this room and be able to stand on
principle. Well, good for you. I'm, I'm damn proud of you. Thank you, dad. I think you, I think you
should be proud. I'm, I'm proud of us. I'm incredibly proud of us. Yeah, but you're, you're
there representing us. And so I'm, people would ask for you, people would ask for you.
Well, you tell them I'm, you know, lounging in my living room inventor.
Maybe they're going to watch the show. Who knows?
Well, let's hope. Well, we should probably let you get some lunch because you, you have
other sessions to go to after lunch. Absolutely. So A, thank you for spending the thousand
dollars to be there. And B, thank you for setting up outside where it looks absolutely lovely in
DC today. It's gorgeous here, man. Well, enjoy some lunch and enjoy the afternoon sessions.
Absolutely. Thank you, dad. It's my pleasure and privilege to represent our community. So
thank you everyone for trusting me. Thanks for trusting my dad. Thanks for trusting CarEdge.
If we can help you with anything, again, the website is caredge.com. Yeah, yeah, just so proud
of what we're doing. So perhaps enjoy the afternoon. I'm going to go run to the bathroom,
get some food, and I get back in that room and keep shooting some videos so we can, you know,
have some, some further conversations on this. Sounds good to me. Say hi to all my friends down
there that might actually be friends of mine and have a great afternoon, young man. I love you.
Love you too, dad. If you liked the show, please take a moment to rate, review, and subscribe.
It really does help the show to grow. Thank you for listening.
About this episode
At the Fair Pricing Summit in Washington, DC, CarEdge’s Zach and Ray break down the FTC’s six planned rules, zeroing in on price transparency and how dealers must advertise the vehicle price plus required fees. Speakers connect FTC scrutiny to state AG enforcement, citing real penalties and settlements, and explain why training alone won’t fix systemic compliance gaps. The discussion also tackles third-party marketplace frustration and CarEdge’s dealer transparency grading—built to level the playing field with auditable, non-opinionated data.
Today on CarEdge Live, Ray and Zach discuss the latest on FTC air pricing compliance live from Washington DC. Tune in to learn more! Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com
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