Ill. Admin. Code tit. 14 § 475.410

Current through Register Vol. 48, No. 49, December 6, 2024

Section 475.410 - Dealer Cost/Invoice Pricing

It is an unfair or deceptive act to advertise the terms "dealer's cost," "cost," "dealer's invoice," "invoice price," "factory invoice," "factory billing," or terms of like import or other representation that a vehicle will be sold at, above, or below a cost or price standard, unless:

a) The advertising exclusively uses the term "invoice" or "invoice price";

b) The advertising complies with the following:

1) clearly and conspicuously discloses that the dealer's profit is not limited to the amount of dollars charged over invoice; or

2) the price standard represents the total consideration paid by the dealer to the manufacturer for the vehicle, and no other consideration, fee or charge, including without limitation, overhead, rebates, promotional fees, advertising or other consideration has been or will be paid by the manufacturer or a third party to the dealer prior or subsequent to the purchase of the vehicle, which in any way reduces, diminishes or offsets the cost to the dealer of purchasing the vehicle;

c) Subject to Section 475.320, purchasers shall be able to purchase all vehicles described by the advertisement at the advertised price. If some vehicles in stock may not be purchased at advertised prices because of nonfactory options installation, the advertisement shall clearly and conspicuously disclose that the advertised price applies only to a specified number of vehicles or to one or more vehicles by stock number; and

d) The invoice shall be readily available for inspection by prospective customers.

Ill. Admin. Code tit. 14, § 475.410