In a clear, comprehensible and prominent manner, a contract for the sale of a new vehicle must include the following:
Buyer’s name and address.
- Dealer’s registered name (and legal name if different from registered name), address and registration number.
- Salesperson’s name and registration number.
- Date of sale and date of delivery.
- Vehicle Identification Number (VIN), if known.
- Make, model, model year and trim level of vehicle.
- Colour and body type of vehicle.
- If the contract is for a new specifically identified motor vehicle (e.g., VIN is known, in stock, etc.), the maximum distance that will be shown on the odometer at time of delivery.
- If the contract does not specifically identify a new vehicle (e.g., a vehicle which must be located, VIN unknown), the maximum distance that will be shown on the odometer at the time of delivery or a statement initialled by the buyer that there is no maximum.
- Itemized list of MSRPs of all extra equipment and options in the contract.
- Total MSRP [(a) plus (b)].
- An itemized list of the charges the customer is required to pay (including freight, PDI, fees and levies).
- If the dealer has agreed to provide items or inducements at no extra charge, an itemized list with “fair and accurate” descriptions and retail values of each (e.g., DVD players, warranties, service plans, etc.).
- The total sale price, indicating the charges in 11 (above).
- Down payment or deposit paid by buyer.
- Balance to be paid.
- Itemized list of all other charges the buyer will pay at time of delivery (e.g., taxes, licensing).
- If the dealer helps a consumer obtain financing, a statement providing the consumer with the information required in the “Initial Disclosure Statement” (IDS) of Section 79 of the Consumer Protection Act. The IDS provides the consumer with full disclosure of payment terms, including monthly payments, interest rate, term, total payments and other charges.
- If the dealer or salespeople will receive from any source other than the dealer any commission, remuneration or incentive for providing the application for financing, a statement to that effect that is initialled by the buyer (this includes a dealer reserve).
- If there is a trade-in, the “Additional Contract Requirements for Trade-Ins.”
- This “Sales Final” Statement on the same page as the buyer’s signature and adjacent to the signature:
SALES FINAL (in 14 pt bold font)
Please review the entire contract, including all attached statements, before signing. This contract is final and binding once you have signed it unless the motor vehicle dealer has failed to comply with certain legal obligations.
- This OMVIC/Compensation Fund “Important Information” Statement:
IMPORTANT INFORMATION RESPECTING MOTOR VEHICLE SALES (in 14 pt bold font)
In case of any concerns with this sale, you should first contact your motor vehicle dealer. If concerns persist, you may contact the Ontario Motor Vehicle Industry Council as the administrative authority designated for administering the Motor Vehicle Dealers Act, 2002.
You may be eligible for compensation from the Motor Vehicle Dealers Compensation Fund if you suffer a financial loss from this trade and if your dealer is unable or unwilling to make good on the loss.
You may have additional rights at law.
Contact OMVIC at 1-800-943-6002 or www.omvic.on.ca
- One of these two CAMVAP Statements in large bold print:
If CAMVAP is available:
CANADIAN MOTOR VEHICLE ARBITRATION PLAN
The Canadian Motor Vehicle Arbitration Plan may be available to resolve disputes concerning alleged manufacturer’s defects or implementation of the manufacturer’s new motor vehicle warranty.
- If CAMVAP is NOT available:
CANADIAN MOTOR VEHICLE ARBITRATION PLAN NOT AVAILABLE
- All restrictions, limitations and conditions imposed on the buyer, stated in a clear, comprehensible and prominent manner.
- Any required disclosure statement related to a vehicle’s previous use, history and/or condition.
- A statement of any particular facts respecting the vehicle that the buyer considers material to the purchase.
The dealer is responsible for ensuring that: the contract is signed by the parties; signed by the salesperson; buyer receives a copy immediately after signing.
Note: There must be a separate contract for each vehicle sold.