Last fall I was looking to purchase a new car when I learned of the arbitration agreement being required by automobile dealerships. These agreements are required by almost all car dealers which comes from the auto dealership associations. An arbitration sounds so benign however upon reading it I was shock at how comprehensive they are. Once you sign it you have surrendered your rights to take legal action against dealership fraud and all other illegal acts. You also agree to pay for all of the costs associated with arbitration, regardless if the ruling. The Ford Auto Dealership Ass. requires you to use their appointed arbitrator. The cost of arbitration is extremely hight so much so that it is ridiculous to even consider this route.I called the Virgina State Board for Automobile Dealerships to see if this agreement was used universally and I was told by the head of that board that it was. I asked if he thought it was fair, and I received no reply. I also learned that this board was made up of automobile dealers which is like having pirates guarding the kings gold.
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