Get access to the same vehicle valuation tool that dealers rely on. With Black Book, you’ll have insider data to accurately assess trade-in and purchase values—empowering you to negotiate the best possible deal.
In June 2024, the New York Attorney General’s office reached settlements with two Long Island Nissan dealerships, requiring them to pay over $350,000 in restitution and penalties for allegedly adding bogus fees and improperly raising prices on leased vehicles that consumers wanted to buy post-lease. Other Nissan dealerships may have employed similar tactics. Here’s what you need to know about the car lease buyout settlement, and what you can do to find out if you’re impacted by these or similar fraudulent lease charges.
Nissan Lease-End Settlement: Two NY Dealerships Fined, Will Pay Restitution
The two dealerships involved are Nissan 112 of Patchogue and South Shore Nissan of Amityville. An investigation by the New York Attorney General’s office revealed that between 2020 and 2023, consumers who leased Nissan vehicles and opted to buy them at the end of their lease terms were substantially overcharged. The dealerships allegedly added miscellaneous fees and inflated vehicle prices on consumer invoices.
This practice was found to be particularly egregious at Nissan 112, which had previously agreed in 2015 to cease issuing deceptive invoices bundling multiple after-sale products without clear price disclosure.
The NY car dealership settlements come as part of broader efforts by Attorney General Letitia James to crack down on deceptive practices in the auto industry. The details of the fines and restitution payments to impacted customers are intended to punish the violators while also deterring other dealerships from defrauding customers in the future.
South Shore Nissan: The dealership will pay $33,191 in restitution to 120 consumers and a $31,200 penalty for allegedly overcharging consumers.
Nissan 112: This dealership will pay $39,390 in restitution to 103 consumers and a $250,000 penalty for allegedly overcharging consumers and violating a prior settlement from 2015.
“Today we are putting money back in the pockets of defrauded New Yorkers and reminding car dealers to steer clear of violating our laws and deceiving consumers,” said Attorney General Letitia James in a statement shared by Automotive News.
The settlements with these two dealerships follow an April announcement where five other New York Nissan dealerships agreed to pay $2 million to settle similar allegations. These dealerships are Baron Nissan in Greenvale, Nissan of Westbury, Kings Nissan in Brooklyn, Nissan of Queens in Ozone Park, and Nissan of Staten Island.
What Drivers of Leased Cars Can Do
If you are leasing a car and nearing the end of your lease, it’s important to be aware of potential fees and price hikes. This is especially true if you’ve leased a Nissan in recent years. Here’s what you can do to check if you may be impacted and how to pursue a resolution:
Steps to Check if You’re Impacted
Review your Lease Agreement: Carefully read your lease agreement to understand the terms of your lease-end purchase option. Find out exactly how much you should pay, plus taxes and required fees, before going to the dealership. Use this free guide to understanding your lease agreement.
Inspect invoices and receipts: When you decide to buy your leased vehicle, scrutinize all invoices and receipts for any unexpected or miscellaneous fees. These are fees you should never pay.
Compare prices: Check the agreed-upon buyout price in your lease agreement against the final price on the invoice. Any substantial increase should be questioned.
Consult consumer protection resources: Noticing discrepancies in your lease contract? If not solution is reached with the dealership, look for guidance from consumer protection agencies like your Attorney General’s Office or legal resources to understand your rights.
If needed, file a complaint: If the dealership is uncooperative or you suspect fraudulent charges, file a complaint with your state’s attorney general’s office or the consumer protection division.
Monitor settlements: Stay informed about settlements and restitution programs similar to the ones announced by the New York Attorney General’s office. You might be eligible for restitution if your dealership is involved in such practices.
Conclusion: Stay Vigilant, and Check Your Car Lease Buyout Contract
The recent actions by the New York Attorney General’s office highlight the importance of vigilance when dealing with lease-end purchases. By being aware of potential deceptive practices and knowing how to address them, consumers can protect themselves and potentially recover any undue charges.
If you’re in the market for a new vehicle, October presents an excellent opportunity to take advantage of zero percent financing. Several car manufacturers are offering 0% APR deals across a range of models, making this a perfect time to upgrade your ride without the extra cost of interest. Here are some of the best zero percent financing car deals available this month.
Chevrolet
October brings the best Silverado APR deals in ages. The offer even applies to the new Silverado EV.
Following a year of climbing inventory and sluggish sales, Stellantis has unveiled their most widespread incentives in recent memory. All of the following Jeep models are available at zero percent APR for 36 months, with competitive APR offers also available for longer loan terms.
Looking for another Subaru model? This month, there are low APR financing options for popular models like the Ascent, Forester, and Outback. See all Subaru financing offers.
Volkswagen
Volkswagen is offering rare zero percent car deals for both their electric and traditional SUV models in October:
Year-end deals (from Black Friday to New Years Eve) are always the best time for deals. However, not everyone can wait that long. If you’re in the market to buy in the next six months, right now presents a great opportunity to save big on financing with the abundance of zero percent APR deals. Expect the number of low-APR offers to grow as we approach the end of 2024.
Tired of car buying hassles? Let a professional do it for you! Learn more about CarEdge Concierge, the most-trusted car buying service out there!
As we enter the heart of summer, car shoppers have every reason to mark their calendars for July 4th. For those who can’t wait until year-end car sales, the summer holiday is an excellent time to negotiate a deal, or simply to take advantage of manufacturer incentives. 2024’s Fourth of July car sales are poised to be especially big. This year, the combination of abundant new car inventory and incoming 2025 models is creating an ideal environment for jaw-dropping discounts.
Here’s why 2024’s July 4th sales will be special.
This new car oversupply is particularly pronounced in the truck, SUV, and luxury vehicle sectors. But not all car brands are approaching the summer holiday on the same footing. Domestic brands from Stellantis, Ford, and GM are more negotiable in 2024 due to higher inventory. However, shoppers with eyes set on a new Toyota or Honda will have a harder time securing a deal. But even for these brands, great APR and lease offers exist.
Brands On Track For Big Fourth of July Car Sales
Despite the modest gains in sales, certain brands like Ram, Jeep, Mazda, Ford, and Nissan are facing significant inventory excesses compared to their competitors. These brands are likely to offer bigger discounts for July 4th as they strive to sell cars. In fact, we’re already seeing them bring out the deals.
This is especially true for Ram, who has already started shipping 2025 truck models to dealerships. With 114,000 model year 2023-2024 Ram trucks left to sell, dealers are ready to ‘move the metal’ as they like to say. Truck lots are getting more crowded by the day.
Car brands with less inventory include Toyota, Subaru, and Honda. These brands are less likely to offer big APR and cash discounts in July as a buyer’s market remains elusive for the hot-selling Japanese brands.Â
Low APR deals are a win-win for both dealers and buyers. For dealers, it’s about liquidating stock without slashing sticker prices dramatically, which can devalue the brand. For buyers, these subsidized rates lower the monthly payment, making an upgrade more feasible. Expect to see APR offers as low as 0% for qualified buyers on select models, alongside generous cash-back offers and lease deals.
In fact, there are already several 0% APR offers on the market today…
As we inch closer to Fourth of July car sales, certain vehicles stand out for their negotiability. While the specific models and deals will be confirmed as the holiday approaches, here are some categories to watch:
Truck Deals: Automakers have simply priced new trucks too high, and buyers are pushing back. This has led to an oversupply of new trucks on dealer lots. Expect big deals on the Chevrolet Silverado 1500, Ram 1500, and Ford F-150. In fact, there are already some great low APR offers out there. Check out the truck deals here.
Electric Vehicles: Despite their steadily growing popularity, certain EV models are still struggling to find their market footing, leading to potentially larger discounts. Electric offerings from Kia, Hyundai, Chevrolet and Nissan are all advertised with big discounts. See the best EV offers this month.
Even if you’re looking elsewhere in the market, great deals far below MSRP can be won, especially with negotiation know-how. Be sure to take these free negotiation tools with you. Or, you can skip the dealership altogether!
Most folks dread buying a car. The salespeople, the misleading pricing, and pressure tactics make for one unpleasant experience. That’s a shame, because buying a car is the second largest purchase that most consumers will ever make.
Finally, there’s a better way to buy a car. Let a pro negotiate the perfect car on your behalf with CarEdge Concierge. Never step foot in a dealership again with home delivery and personalized service. Learn more about CarEdge Concierge, the most-trusted car buying service out there!
When it comes to purchasing a new or used vehicle, car buying services can simplify the process and get you a better deal. In this comparison, we’ll look at two popular services: Navy Federal Credit Union Car Buying Service and CarEdge Concierge’s car buying service, highlighting their key features, customer experiences, and overall value. Which is best for you? Stay tuned to find out.
Service Overview
Navy Federal Car Buying Service
Navy Federal Credit Union (NFCU) offers a car buying service powered by TrueCar, designed to provide a straightforward, member-friendly car purchasing experience.
Main Selling Points: Benefits for veterans and servicemembers, TrueCar affiliation, upfront price offers, trade-in assistance, exclusive member discounts, and competitive financing options.
Target Audience: Navy Federal Credit Union members seeking a convenient and budget-friendly car buying experience with the added benefits of membership.
Price: Free with Navy Federal Credit Union membership
CarEdge Concierge
CarEdge provides a comprehensive, hands-off car buying service, handling everything from vehicle sourcing to negotiation and delivery, all from the comfort of your home.
Main Selling Points: Complete management of the buying process, expert negotiation, no hidden fees, transparency, and customer-centric approach. CarEdge is not paid by car dealerships, and emphasizes their independence from auto industry influence.
Target Audience: Consumers seeking a personalized, stress-free car buying experience with expert support.
Common Praises: Convenience, competitive pricing, exclusive member benefits.
Common Complaints: Limited to TrueCar Certified Dealers, less personalized service compared to concierge services. Car buyers still deal with car dealership salespeople.
Customer Service: Not personalized, but general help is available through Navy Federal for questions and support.
Common Praises: Buyers skip the dealership, effective negotiation, no hidden fees, stress-free process, home delivery.
Common Complaints: Higher upfront cost compared to other services.
Customer Service: Comprehensive support throughout the entire process from a personal CarEdge Concierge.
Pros and Cons
There are some key differences between Navy Federal Credit Union and CarEdge car buying services, so we’ve gathered the key takeaways that differentiate each.
Navy Federal Car Buying Service Pros and Cons
Navy Federal Car Buying Service
Pros
Cons
Free with Navy Federal membership
Membership is restricted to those with ties to the armed forces
Convenient online car search and upfront pricing
Limited to TrueCar Certified Dealers
No personal Concierge or customer advocate
Dealership visits required in most cases
Less personalized service
CarEdge Pros and Cons
CarEdge Car Buying Service
Pros
Cons
Skip the dealership and buy from home
Higher upfront cost
Personalized Concierge included
Shipping costs vary by distance
Home delivery available
Some specialty models not serviced
Negotiates on your behalf
Independent from car dealers
Trade-in assistance
CarEdge does the work for you
In Conclusion: Which Is Better?
Navy Federal’s Car Buying Service and CarEdge Concierge both offer unique benefits, catering to different needs and preferences. Navy Federal is ideal for current credit union members or qualifying applicants looking for an affordable car buying experience with member perks. CarEdge, on the other hand, is perfect for those who desire a personalized service, want to avoid the dealership hassle, and appreciate expert negotiation done on your behalf. Simply put, CarEdge Concierge is the most hands-off car buying experience out there.
Ultimately, if you seek a budget-friendly option with member perks during vehicle ownership, Navy Federal Credit Union’s Car Buying Service is a solid choice. However, if you want the most streamlined and potentially cost-saving car buying experience with minimal effort on your part, CarEdge Car Buying Service stands out as the superior option.
Check out these helpful links below to learn more about each car buying service:
Used car prices are falling in 2024, and in all likelihood, we’re just getting started. According to the most recent used car market updates from Black Book, prices and trade-in values are softening as buyers turn their backs to high APRs and high prices. The summer brought the largest wholesale used car price decline since the pandemic. Here’s a look at the latest used car market update for 2024.
Following an unremarkable spring buying season, used car sales are weakening and inventory is piling up. Over the past month, we see that used car prices at wholesale markets are down one percent. That’s not much, but it’s the trend that matters. With each passing week, used car prices have been softening further. If this trend continues, used car buyers may finally be in for some real price relief. However, the selling price is just one piece of the puzzle.
Unfortunately, high interest rates continue to keep buyers away, with the average used car loan rate remaining north of 14% APR. Furthermore, compelling new car manufacturer incentives, such as zero percent APR offers available today, are leading would-be used car buyers to shift over to the new car market. The latest data from Cox Automotive shows that new car transaction prices continue to fall, and with more affordable new cars, the used car market is under downward pressure.
All signs point towards more price drops to come in 2024 (see our market forecast here). But it’s not all good news. Driver’s considering selling their vehicle should pay attention to used car price updates in the weeks ahead.
Trade-In Values Are Falling in 2024
As used car prices fall, trade-in values are taking a hit. Although today’s price trends are great for buyers, it’s bad news for those looking to sell or trade-in a vehicle in 2024.
Here are some tips to navigate this challenging landscape:
1. Research Your Car’s Value Frequently
Use online tools like CarEdge Sell, Kelley Blue Book or Edmunds to get an accurate estimate of your car’s current trade-in value. Used car values are changing by the week, so it’s important to stay on top of recent trends. Plus, this will give you a baseline to work with when negotiating with dealers or private buyers.
2. Consider Private Sale
Selling your car privately can often yield a higher price than trading it in at a dealership. Be prepared for the additional effort involved in listing, showing, and negotiating with potential buyers.
3. Prepare Your Car For Sale
Ensure your vehicle is in its best condition. A clean, well-maintained car with up-to-date service records will attract higher offers. Consider minor repairs or detailing to increase your car’s appeal.
4. Master Negotiation Beforehand
When trading in your car, get quotes from multiple dealerships to ensure you’re getting the best deal. Don’t be afraid to negotiate based on the research you’ve done about your car’s value. Use CarEdge’s FREE car buying cheat sheets and Deal School 2024 [FREE] to become a negotiation pro.
5. Consider a Car Buying Service
Professional Concierges who work for a car buying service are not just great at getting you deals, they can also negotiate your car’s trade-in value. Learn more about how car buying services work.
By following these steps, you can give your car the best shot at bringing in a higher sale or trade-in value. If you choose to work with CarEdge’s Car Buying Service, our professional Concierges can assist with your trade-in or sale. Learn more.
A Bit of Perspective
Notably, used car values remain above historical norms. It would take months of similar week-over-week declines to return the market to pre-2021 norms. In 2019, the average used car selling price was $20,618. Today, in 2024, the average used car price is $25,328. However, that’s down from 2022’s peak north of $30,000 for a used car.
And then there are today’s used car loan rates. For much of the past year, rates have averaged around 14% APR. This high-interest environment continues to impact buyers, making used car financing less attractive compared to the more favorable new car loan rates available with manufacturer incentives. Are you sure you want that $25,000 used car at 13% APR if you can get a brand new car for $30,000 at zero percent APR? It’s something every used car shopper should consider today.
Understanding these trends provides valuable context for today’s used car market. While current prices are higher than historical norms, they are gradually decreasing. However, the elevated used car loan rates are a critical factor to consider when making purchasing decisions.
The Takeaway
Used car prices are falling sharply at wholesale markets and more slowly at retail car lots. Expect used car prices to continue falling in the months ahead, creating a buyer’s market for deal-savvy shoppers. However, used car loan rates make financing expensive, so if you’re planning to finance a large amount, consider 0% APR offers for affordable new cars instead.
Have You Considered Car Buying Services?
No dealers, no hassle, no stress. Is it possible to buy a car without hating it? Yes! Learn more about CarEdge Concierge, the most-trusted car buying service out there!
States eligibile for below invoice pricing and 100% free delivery:
Alabama, Arkansas, Texas, Oklahoma, Florida, Georgia, Kentucky, Louisiana, Maryland, Delaware, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, and West Virginia.
What if I don’t live in these states? If you're outside these areas, don't worry! We're committed to making sure everyone can enjoy our deals. Although the delivery fee will not be waived, you can still purchase from CarEdge and either pay for shipping or coordinate pickup at a participating dealer.
Getting Started!
Please enter the following information to generate a price-transparent price quote.
FAQ
How much does it cost?
Our concierge service costs $999 plus an optional shipping fee (based on distance or pick-up).
To get started, pay the one-time payment of $999 and a CarEdge concierge will start by negotiating the vehicles in your favorites.
Why should you let a concierge do the work?
Get the best deal
Our team of concierges and industry experts with 75+ years of combined experience with access to tools and data to leverage the best deal possible.
Convenience
Gone are the days of looking for a car and stepping into the dealership spending hours and hours of head banging only to get smooth talked into a higher price.
Expert assistance
We answer all questions you may have regarding the buying process, what the right car is, the deal itself, and more!
Who are the concierges?
Transparent when others aren't
Our commitment to transparency and honesty ensures that you make informed decisions, while our years of experience guarantee that we will be able to secure the best deal for you.
When you win, we win
We work for you, not the dealership, ensuring your interests are always our top priority.
Buying a car just got a whole lot easier.
What happens next?
We’ll coach you on how to get dealers competing to get the best price
You’ll get instant access to our car buying checklists, guides, and market insights
What’s included in my car buying toolkit?
Dealer Invoice Price
Access the Dealer’s Invoice Price to negotiate an even better car deal.
Target Discount
A recommendation of for how much you should negotiate towards.
Negotiation Guide
Know exactly what you need to say to dealers to secure the best deal.
Exclusive Data
Info about your car such as cost of ownership, sales data, and more!
