Autonomous driving and advanced active safety features require accurate high-resolution sensing capabilities.Automotive radars are the key component of the vehicle sensing suit. However, when these radars operate in proximity to flat surfaces, such as roads and guardrails, they experience a multipath phenomenon that can degrade the accuracy of the direction-of-arrival (DOA) estimation. Presence of multipath leads to misspecification in the radar data model, resulting in estimation performance degradation, which cannot be reliably predicted by conventional performance bounds. In this paper, the misspecified Cramér-Rao bound (MCRB), which accounts for model misspecification, is derived for the problem of DOA estimation in the presence of multipath which is ignored by the estimator. Analytical relations between the MCRB and the Cramér-Rao bound are established, and the DOA estimation performance degradation due to multipath is investigated. The results show that the MCRB reliably predicts the asymptotic performance of the misspecified maximum-likelihood estimator and therefore, can serve as an efficient tool for automotive radar performance evaluation and system design.