All-in Price Advertising
When you're buying a car, things can be hidden in plain sight, like hidden fees or added costs. In Ontario, All-in Price Advertising is the law. You should never be charged more than the dealer’s advertised price meaning that the price of any new or used vehicle advertised by a dealer must include all fees and charges they will collect, excluding HST and licensing.
Risks Associated with Financing
Purchasing a vehicle is a decision that should only be made after careful consideration; and for most consumers, one of those major considerations is: how to finance the purchase. It is important to do your research, understand the risks associated with financing a vehicle, and safeguard your financial plan to ensure you stick to your budget.
No Cooling Off Period
In Ontario there is no cooling-off period when it comes to buying or leasing a car. Once you sign a vehicle contract, that deal is final and legally binding, unless the dealer has failed to make certain specified disclosures. Signing on the dotted line for a new vehicle can be intimidating, and the last thing you want to do is waste your hard-earned money on a car that doesn’t meet your needs.
Curbsiders: How to spot them
Curbsiders are illegal, unlicensed vehicle dealers often posing as private sellers. Curbsiders not only misrepresent themselves – they often misrepresent the vehicles they sell: many are previous write-offs with undisclosed accident repairs or are odometer-tampered. Remember, no one sells a vehicle for less than they are worth. If a deal seems too good to be true, that’s a warning, not an opportunity.
Full and Mandatory Disclosures
A disclosure is a fact or detail about the motor vehicle related to its past use, history or condition, such as accident damage over $3,000. Salespeople and dealers are required by law to provide these disclosures related to the past use, history and condition of the vehicle.
All Dealers Must Be Registered
Being a motor vehicle dealer or salesperson in Ontario is a regulated profession. All dealers (new and used) and all salespeople are licensed by OMVIC and bound by the Motor Vehicle Dealers Act and it's Code of Ethics. If you’re buying from a dealer in Ontario, confirm that you’re buying from a registered dealer by asking to see their license, looking for the OMVIC-registered dealer decal or use the “find a dealer” search on our website.
Motor Vehicle Dealers Compensation Fund
The Motor Vehicle Dealers Compensation Fund, referred to as the Compensation Fund, is a consumer protection program financed by Ontario’s registered motor vehicle dealers. If something goes wrong with a motor vehicle purchase or lease agreement, consumers have access to the Compensation Fund which provides financial assistance to eligible consumers who make a valid claim for a vehicle transaction against an OMVIC-Registered Dealer.