The MVDA sets out specific requirements for the dealer’s place of business and stipulates dealers may only trade from the place authorized and listed on the registration (unless classified as a Broker, a Lease Finance Dealer, a Fleet Lessor or an Outside Ontario Dealer).
The MVDA also outlines which records a dealer must keep, how long they must be held, and even where they can be stored. The three general types of records covered by the legislation are:
- Records relating to vehicles.
- Records relating to trades (buying and selling).
- Business records.