ADT TO GET PATENT
NASHVILLE, Tenn. - ADT Automotive Inc. will receive a patent for its ADT LION computerized auction system. The Nashville-based auto auction chain's system includes an auction calendar, a vehicle stock locator, electronic auctions, a redistribution management system, used-car price information and industry news. A feature called Dealer Direct allows users to display inventories of used cars for sale to dealers. ADT launched ADT LION in February 1996.
STEERED TO DEALERS
WASHINGTON - A consumer alert from the Federal Trade Commission almost promotes buying used vehicles from dealers instead of individuals. The alert, which addresses teens buying their first cars, says that private sales are not covered by the federal and state disclosure laws. So individuals are not required to make the same disclosures as a dealer is. But the alert discourages first-time buyer programs, saying the interest rates are usually higher and the programs often require a hefty down payment.