New Mexico Administrative Code
Title 12 - TRADE, COMMERCE AND BANKING
Chapter 2 - CONSUMER PROTECTION
Part 4 - REQUIREMENTS FOR THE ADVERTISING AND SALE OF MOTOR VEHICLES
Section 12.2.4.16 - REBATES
Current through Register Vol. 35, No. 18, September 24, 2024
A. It is an unfair or deceptive trade practice for a dealer to advertise rebates if the dealer raises the price of the vehicle prior to a sale in order to compensate for the allowance of the rebate.
B. It is an unfair or deceptive trade practice for a dealer to advertise the existence of a rebate or a price that takes into account a rebate unless the advertisement discloses the existence, amount and source of the rebate.
C. It is an unfair or deceptive trade practice for a dealer to advertise any rebate unless the dealer maintains sufficient documentation to demonstrate that the sale prices of vehicles sold in connection with such promotions have not been increased to compensate for the rebate and the dealer makes such documentation available for inspection and copying by the attorney general's office upon written request during normal business hours.
D. It is an unfair or deceptive trade practice for a dealer to advertise as a rebate any price reduction which is not a rebate.
