Section 475.310 Advertised Price
It is an unfair or deceptive act to advertise the total price of a motor vehicle without including in the advertised price all costs to the purchaser at the time of sale, or which are necessary or usual prior to delivery of such vehicle to the purchaser, including any costs of delivery, dealer preparation and any other charges of any nature; provided, however, taxes, license and title fees and a documentary service fee, as defined herein, may be excluded from the advertised price if clearly disclosed in the advertisement that these costs are excluded from the advertised price. Purchasers shall be able to purchase all vehicles described by the advertisement at the advertised price.
(Source: Amended at 25 Ill. Reg. 4819, effective March 20, 2001)
Section 475.320 Advertising Limitations
It is an unfair or deceptive act to fail to clearly and conspicuously disclose in an advertisement any limitations, including, but not limited to the availability of a single vehicle or a number of vehicles in stock, or period of time during which the offer is in effect, or other applicable restrictions, to which the advertised price may be subject.
Section 475.330 Low Prices (Repealed)
(Source: Repealed at 27 Ill. Reg. 7960, effective April 16, 2003)
Section 475.340 Lowest Prices--Guaranteed Lowest Prices
It is an unfair or deceptive act to advertise the terms "lowest prices," "guaranteed lowest prices," "prices lower than anyone else", or words of similar import, in the advertisement, unless the dealer systematically monitors and continues to monitor competitive prices in the trade area and can substantiate such claim.
Section 475.350 Price Matching
It is an unfair or deceptive act to use terms "meet your best offer" or "we won't be undersold", or terms of similar import which suggest that a dealer will beat or match a competitor's price unless:
- the advertisement clearly and conspicuously discloses price matching policy and any limitations; and
- such policy does not require the presentation of any evidence which places an unreasonable burden on the consumer.
Section 475.360 Disclosure of Basis for Price Comparison
- It is an unfair or deceptive act to advertise any advertising term(s) which compare the dealer's current selling price with a higher price, explicitly or implicitly, unless the basis for the price comparison is clearly and conspicuously disclosed; provided, however, in a new vehicle context, a dealer may compare the higher and lower price without disclosing the basis for the price comparison, if the higher price is the dealer's own former (regular) price, and only if:
- the former (regular) price is equal to or below the price(s) at which the dealer made a substantial number of sales of such vehicles in the recent regular course of its business; or
- the former (regular) price is equal to or below the price(s) at which the dealer offered thevehicle(s) for a reasonably substantial period of time in the recent regular course of its business, openly and actively and in good faith, with an intent to sell the vehicle(s) at that price(s).
- It is an unfair or deceptive act to use any advertising term(s) which compare the dealer's current selling price with a price currently being offered by another dealer for an identical vehicle, explicitly or implicitly, unless the stated higher comparative price is at or below the price at which the identical vehicle is currently being offered in the dealer's trade area by:
- a reasonable number of other dealers in the same trade area; or
- another dealer(s) is specifically identified in the advertisement.
- In a new vehicle context, it is an unfair or deceptive act to use any advertising term(s) which compares the dealer's current selling price with a "list price", or other similar terms, to claim a savings, unless such list price is the manufacturer's suggested retail price ("MSRP"), and is the price at which the vehicle is offered by a reasonable number of dealers in the dealer's trade area, or is the dealer's own former (regular) price as defined in subsection (a) (1) or (2) above. However, an advertisement may reference a MSRP in relation to the dealer's (regular) price if no savings are claimed, and the MSRP figure is disclosed and identified as such in the advertisement, and the advertisement discloses that the MSRP may not be the price at which the vehicle is sold in the trade area.
- In a used vehicle context, it is an unfair or deceptive act to use terms such as "was $ , now $ ", which compare the dealer's current selling price with a higher price; provided, however, a dealer may compare an advertised price with a retail value listed in a current, nationally recognized, and published price guide book. Said book price must be from the current regional issue from the trade area where the advertisement appears, and the advertisement must clearly and conspicuously disclose which book is quoted in close proximity to the advertised price. In addition, the advertisement must clearly and conspicuously include the following disclaimer in at least ten-point bold-faced type: "The value of used vehicles varies with mileage, usage and condition. Book values should be considered estimates only." Under no circumstances may the Manufacturers Suggested Retail Price (MSRP) be used as a basis for price comparisons for used vehicles.
(Source: Amended at 25 Ill. Reg. 4819, effective March 20, 2001)
Section 475.370 Sales
It is an unfair or deceptive act to advertise the words "sale", "discount", "savings", "price cut", "reduced", "clearance", "tent sale", and other similar terms, which state or imply a price savings, unless the current selling price of the vehicle is reduced by a reasonable amount from the vehicle's former (regular) price as defined in Section 475.360(a)(1) or (2). If the dealer reduces the price by 5% or more, a rebuttable presumption shall exist that the price reduction was of a reasonable amount. On vehicles where the mark-up from dealer invoice is less than 5%, the dealer may use sale terms if the vehicle has been reduced by a reasonable amount. It is an unfair or deceptive act to advertise the term "clearance" without clearly and conspicuously disclosing, if such is the fact, that such "clearance" is limited to certain vehicles. It is an unfair or deceptive act to advertise the words "sale", "discount", "savings", "price cut", "reduced", "clearance", "tent sale", and other similar terms that state or imply a price savings, without disclosing the duration of the words that state or imply a price savings by stating the number of days or termination date. However, in a new vehicle context, if the model cannot be reordered from the manufacturer, then the word "clearance" can be used without stating the number of days or a termination date.
(Source: Amended at 25 Ill. Reg. 4819, effective March 20, 2001)
Section 475.380 Liquidation Sale
It is an unfair or deceptive act to use any advertising terms such as "Liquidation Sale", "Public Notice", "closing Out Sale", "Lost Our Lease Sale", "Forced to Vacate Sale" or similar terms used to connote or imply a court-ordered or other forced liquidation of assets, or to induce a belief that upon disposal of the stock of goods on hand, the business will cease and be discontinued at the premises where the sale is conducted, unless such is the case.
Section 475.390 Range of Savings or Price Comparison Claims
It is an unfair or deceptive act to advertise that any vehicles are being offered for sale at a range of prices or at a range of percentage or fractional discounts, through the use of the terms "As Low As" or "From," or terms of similar import, unless:
- the highest price or lowest discount in the range is clearly and conspicuously disclosed in the advertisement; and
- a reasonable number of these vehicles in the advertisement are offered with at least the largestadvertised discount; and
- the vehicles are readily available for sale in sufficient quantity likely to meet reasonable expectable public demand.
If at least 5% of the vehicles in the advertisement are offered with at least the largest advertised discount, it shall create a rebuttable presumption that a reasonable number were offered with at least the largest advertised discount.
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:
- The advertising exclusively uses the term "invoice" or "invoice price";
- The advertising complies with the following:
- clearly and conspicuously discloses that the dealer's profit is not limited to the amount of dollars charged over invoice;
or
- 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;
- 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
- The invoice shall be readily available for inspection by prospective customers.
Section 475.420 Buy-Down Rate
It is an unfair or deceptive act to advertise the sale of any motor vehicle at a "buy-down" rate, as that term is defined in Section 475.110, without clearly and conspicuously disclosing in the advertisement that the interest rate is not exclusively sponsored or subsidized by the manufacturer, if such is, in fact, true. "Manufacturer" includes any subsidiaries of the manufacturer that advertise or offer motor vehicle financing.
It is an unfair or deceptive act to advertise or offer below market finance rates, unless the advertised "buy-down" rate complies with the Federal Truth In Lending Act.
(Source: Amended at 27 Ill. Reg. 7960, effective April 16, 2003)
