Okla. Admin. Code § 465:15-3-14

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

Section 465:15-3-14 - 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 "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.

(2) Statements representing that no other dealer grants greater allowances for trade-ins.

(3) Statements representing that because of its large sales volume a dealer is able to purchase vehicles for less than another dealer selling the same make of vehicles.

(4) Statements such as "factory direct prices", "wholesale prices", "factory sale", and other similar statements that create the impression that the vehicle is being offered for sale by the manufacturer or distributor of the vehicle, are prohibited. Dealers may use terms such as "factory authorized sale" only in conjunction with factory-sponsored promotions and/or advertising campaigns. Statements such as "we have been selected", "we have been chosen", and other similar statements, which imply that the dealership has exclusive arrangements not available to other dealers, are prohibited.

(5) A savings claim or discount offer is prohibited except to advertise specific new or demonstrator vehicles. Statements such as "up to", "as much as", "from", shall not be used in connection with savings or discount claims, unless the vehicle for which the claim is made is clearly identified including stock number. Savings claims can only be offered from the bottom line MSRP sticker price. Discounts shown on the Monroney Sticker Label shall not be included in the advertised discount or savings claim. The featured savings claim or discount offer for a new motor vehicle, when advertised, must be the savings claim or discount which is available to any and all members of the buying public.

(6) The use of the terms "Free", "Complimentary", or similar terminology is prohibited if a consumer must make a purchase to obtain the "free" offer.

(7) The terms "dealer's cost", "invoice", "invoice price" or other reference to the cost of the vehicle to the dealer shall not be used.

(8) No trade-in amount or range of amounts shall be stated or implied in an advertisement, including comparisons or references to industry valuation guides.

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

(10) Statements such as "we pay tag, tax and license", or statements with similar meaning shall not be used.

(11) 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 can only be advertised during the period between the execution of a buy-sell with the proposed buyer and written factory approval.

(12) 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".

(13) Terminology such as "we will pay off your trade" or statements with similar meaning shall not be used, unless accompanied by a disclaimer which clearly and conspicuously states that the amount of the pay off is added into the contract and is dependent upon approved credit.

(14) Statements such as "we will make your payments for a number of months", "you make no payments for a number of months", or similar statements are prohibited unless the finance contract is written as such and the customer is not obligated for payments to the finance company for that specified period of time.

Okla. Admin. Code § 465:15-3-14

Added at 9 Ok Reg 1589, eff 4-27-92; Amended at 18 Ok Reg 2214, eff 6-11-01; Amended at 20 Ok Reg 1004, eff 5-12-03; Amended at 21 Ok Reg 1413, eff 6-1-04; Amended at 22 Ok Reg 1342, eff 5-26-05; Amended at 24 Ok Reg 1110, eff 5-11-07; Amended at 28 Ok Reg 1074, eff 6-11-11