Consumer Line

November 2020

OMVIC Message


In This Issue

Financial Literacy for Consumers:

  • Budgeting for a Car

  • Avoiding Negative Equity

  • Expert Advice on Car Financing

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OMVIC is committed to its staff and its stakeholders’ health and safety. At this time, OMVIC’s head office is closed to the public. OMVIC is operating from remote sites and continues to work with stakeholders during the COVID-19 crisis. While service levels may be impacted, OMVIC remains committed to maintaining a fair and informed marketplace by protecting the rights of consumers and ensuring fair, honest and open competition for registered motor vehicle dealers during these challenging times.

If you have a consumer inquiry, please email OMVIC at


Financial Literacy for Consumers: Budgeting for a Vehicle

November marks the beginning of Financial Literacy Month, so let's kick off the discussion with how to budget for the vehicle you want to buy.

Typically, the biggest expense when buying a car is the car itself, but what other expenses should you consider? There are gas and parking of course, but let's look at the additional costs so you don’t get blindsided later on!

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Budgeting for a Vehicle

Financial Literacy for Consumers: Avoiding Negative Equity

For the second installment in our November Financial Literacy Series, we’re going to focus on negative equity. We define it, explain how to protect yourself against it, and end with some important questions to ask yourself before taking on a long-term loan.

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Avoiding Negative Equity

Financial Literacy for Consumers: Advice on Vehicle Financing

Our third installment in our Financial Literacy series focuses on one of the most important steps to buy a car: getting vehicle financing. You've identified the vehicle you want, you've asked all the right questions, you understand how to read a contract: now you need to figure out the best way to pay for your vehicle.

We contacted two experts on vehicle financing, George Iny and John Raymond from the Automobile Protection Agency (APA) to answer some common questions car buyers have.

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Vehicle Financing

Financial Literacy for Consumers: More Vehicle Financing Advice

Wrapping up Financial Literacy Month, we’re continuing our discussion on vehicle financing with experts from the Automobile Protection Agency (APA). We discuss whether a long-term loan is ever a good idea and who you should consider speaking to if you need financing to buy a car privately.

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Vehicle Financing Expert Advice

OMVIC Contact

OMVIC administers and enforces the Motor Vehicle Dealers Act (MVDA) on behalf of the Ministry of Government and Consumer Services. OMVIC maintains a fair and informed vehicle sales marketplace by regulating dealers and salespersons, regularly inspecting Ontario's 8,000 dealerships and 30,000 salespeople, maintaining a complaint line for consumers and conducting investigations and prosecutions of industry misconduct and illegal sales (curbsiding). OMVIC is also responsible for administering the Motor Vehicle Dealers Compensation Fund on behalf of its Board of Trustees.

Consumer Line is OMVIC’s consumer guide to Ontario’s motor vehicle dealer industry. It is published throughout the year, delivered free via e-mail and provides consumers with useful tips, industry news and important, up-to-date information.

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