Business & Tech
FTC Faults Milford Car Dealer for Deceptive Ads
A settlement would require Key Hyundai and other dealers to stop promising to pay off loans on trade-ins.
Although , Key Hyundai of Milford has been accused by the Federal Trade Commission of deceptively promising to pay off the balance of the loans on customers’ trade-ins.
An article in the Connecticut Post said the FTC targeted three Hyundai dealerships in Connecticut, including the dealership, and car dealers in three other states in the complaint. Instead of paying off the loans on trade-ins, the balance was added to the new car loan.
Settlements announced this week require the dealers to stop running the deceptive ads. The commission has scheduled a final vote on the settlement following a 30-day public comment period.
