September 14, 2023 - What’s required for wholesale transactions
What’s required for wholesale transactions
Wholesalers are a class of registrants that are subject to certain rules that differ from those that apply to other classes. Specifically, wholesalers are not allowed to trade with the public.
Wholesalers may only:
- Trade with other registered motor vehicle dealers registered under the MVDA
- Purchase vehicles from the Crown, or a person who is exempt, and
- Sell vehicles at a wholesale auction to a person located outside Ontario, where that person is registered with equivalent status to a registered motor vehicle dealer.
OMVIC has developed a guideline to provide a framework for understanding and complying with these requirements.
This guideline details the wholesale requirements for:
- Contracts and disclosures,
- Dealer support role,
- Restrictions for auctions, and
OMVIC will be hosting two informational webinars to address any questions or comments you may have.
Click here to register through Zoom for the Tuesday, September 19th session. To register for the Monday, September 25th session, please click here.
Note: This information was created to assist dealers/salespeople and is not a legal document. Registrants are encouraged to obtain independent legal advice.
The dealer support team is available to assist dealers in achieving and maintaining compliance with the Motor Vehicle Dealers Act (MVDA). Please contact dealer support at firstname.lastname@example.org or by calling 1-800-943-6002 and leave a message if you have any questions or concerns. Messages are returned in a priority sequence.