John Huetter

The 97 auto retailers the Federal Trade Commission warned it suspected of illegal advertising practices included industry leaders Lithia Motors Inc., AutoNation Inc. and Hendrick Automotive Group.

Attorney General Letitia James' settlement requires Nissan Motor Acceptance to audit 45 dealerships and refund any customers overcharged on lease buyouts during shortages.

Honda of the Bronx charged an average of $2,854 more than advertised on 24 vehicles and committed other violations after the dealership was sold in August, a New York City agency alleged. Its settlement was much lower than the 250,875.94 the city once said it could charge.

The FTC confirmed its March letters to 97 dealership groups were not notices of penalty offenses, one of three ways the agency can bring fines of more than $53,000 per violation.

The Federal Reserve held interest rates steady in June but reversed course saying to expect a quarter-point increase later this year.

Louisiana directed dealerships to follow stricter FTC advertising rules despite state code allowing document fee exclusions. Massachusetts reminded dealers it already requires document fees in advertised prices.

Nearly 36 of new-vehicle loans and 32 percent of used-vehicle loans in the first quarter were longer than 72 months, Experian said.

Monthly payments below $500 happen on a fifth of deals, but typically require large down payments, less expensive vehicles and high credit scores, Experian data shows.

The five co-conspirators received sentences ranging as high as 108 months for allegedly stealing "high-end" vehicles from dealerships across 15 states. Many of the thefts allegedly involved swapping key fobs with unsuspecting employees.