Okla. Admin. Code § 765:16-3-11

Current through Vol. 42, No. 4, November 1, 2024

Section 765:16-3-11 - Prohibited statements

The following statements are presumptively false and misleading, and the burden of proving otherwise shall be on the advertiser/licensee:

(1) Statements such as "write your own deal", "name your own price, "name your own monthly payment", or statements with similar meaning.

(2) Statements such as "everybody financed", "no credit rejected", "guaranteed approval", you are "pre-approved", and other similar statements representing or implying that no prospective credit purchaser will be rejected because of his inability to qualify for credit.

(3) Statements representing that no other dealer grants allowances for trade-ins, however stated, unless such is the case.

(4) Statements representing that because of its large sales volume a dealer is able to purchase vehicles for less than another dealer, unless such is the case.

(5) No merchandise or enticement may be described as "free" if the vehicle can be purchased for a lesser price without the merchandise or enticement, or if the price of the vehicle has been increased to cover the cost or any part of the cost of the merchandise or enticement. The advertisement shall clearly and conspicuously disclose the conditions under which the "free" offer may be obtained.

(6) The term "dealer's cost", or other reference to the cost of the vehicle to the dealer shall not be used.

(7) No "" trade-in amount or range of amounts shall be advertised.

(8) A used vehicle shall not be advertised in any manner that creates the impression it is new.

(9) The use of the terms "liquidation", "going out of business", or statements with similar meaning, are prohibited unless a dealer is actually going out of business and ceasing its operations at the licensed location. If a dealer is going out of business, these terms may only be advertised during the period between the execution of a buy-sell agreement with the proposed buyer and the actual effective date of the sale.

(10) An offer of a buy down rate is prohibited without the appropriate disclaimer: "This is a buy down rate. The amount of the buy down may affect the price of the vehicle."

(11) Terminology such as "we pay off your trade no matter how much you owe" or statements with similar meaning shall not be used, unless accompanied by a disclaimer indicating that pay off is dependent upon approved credit.

Okla. Admin. Code § 765:16-3-11

Added at 16 Ok Reg 3187, eff 7-12-99; Amended at 23 Ok Reg 2889, eff 6-25-06