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OMVIC Blog: Car Buying Tips

Author: OMVIC Communications Created: Friday, August 14, 2015 RssIcon
OMVIC Blog
By OMVIC Communications on Wednesday, March 27, 2019

news release icon

Illegal vehicle sales and odometer tampering have resulted in a 30-day jail sentence for a Mississauga man. Szymon Kozlowski, was found guilty of curbsiding—acting as a dealer without registration—contrary to the Motor Vehicles Dealers Act (MVDA), and of committing an unfair business practicemaking a false, misleading or deceptive representation—in contravention of the Consumer Protection  Act (CPA).


By OMVIC Communications on Friday, March 22, 2019

Mechanical Inspection

Buying a car can be a huge financial commitment and no one wants to end up with buyer’s remorse due to unexpected repairs soon after purchase. That is why its vital consumers exercise their ‘due diligence’ before purchasing any used vehicle – and in many cases, that means getting a pre-purchase mechanical inspection.


By OMVIC Communications on Friday, March 15, 2019

Academy guide

OMVIC is packing up and hitting the road to be part of the Ottawa Gatineau International Auto Show March 21st to the 24th, at the Shaw Centre.This year the OMVIC booth will feature our brand new educational initiative, The OMVIC Academy.


By OMVIC Communications on Thursday, March 7, 2019

car for sale

March is Fraud Prevention Month, as such OMVIC is reminding consumers to beware of curbsiders; illegal unlicensed dealers who often pose as private sellers. Some operate from small automotive businesses (repair shops, rental companies, etc.). Others spend their time behind a computer screen, lying in wait in online marketplaces, ready to pounce on unsuspecting consumers. In fact, 25% of online private vehicle sale ads are 'actually' placed by curbsiders.


By OMVIC Communications on Friday, March 1, 2019

computer scam wallet

March marks the beginning of Fraud Prevention Month, an undeniably important campaign designed to help Canadians recognize, report and reject scams. While it’s great to raise awareness every March, OMVIC recommends this practice all year long, especially if you are planning on buying a car online.


By OMVIC Communications on Friday, February 22, 2019

news release icon

OMVIC has ordered the IMMEDIATE SUSPENSION of 519224 Ontario LTD. o/a Tom Pirie Motor Sales, 190 Lombard Street, Smiths Falls, and of Thomas Pirie, officer and director of Tom Pirie Motor Sales. As a result, Pirie and Tom Pirie Motor Sales may not legally sell, lease, buy or consign motor vehicles. Consumers are warned not to buy or lease motor vehicles from, or sell or consign motor vehicles to, Tom Pirie Motor Sales, RV Kemptville or Thomas Pirie while the dealer’s registration is suspended/terminated.


By OMVIC Communications on Friday, February 15, 2019

omvic academy

Buying a vehicle, whether new or used, can be confusing—perhaps even intimidating. And while the thought of acquiring a new vehicle is exciting, the process can be stressful. So if a consumer is about to enter into the car-buying process feeling unprepared or ill-equipped, The OMVIC Academy has resources that will ensure they are entertained as they become confident and informed car buyers.

By OMVIC Communications on Wednesday, February 6, 2019

OA Car Show

February is for lovers. February 14this the most romantic day of the year for couples (and maybe the most oppressive day of the year for singles), but did you know about the other special days in February celebrating different kinds of love? February 5th is National Weatherman’s Day, the 26th is “tell a Fairy Tale Day” and the 15th is the “International Day for Car Lovers.”

By OMVIC Communications on Thursday, January 31, 2019

ref guide intro

OMVIC has been providing consumer protection to Ontario’s car buyers for over 20 years, but not everyone knows OMVIC's mandate and how it is carried out. To help explain our mission, we created a quick reference guide.

By OMVIC Communications on Thursday, January 31, 2019

news release icon

A Markham area man and woman are facing dozens of charges related to the alleged illegal sale of vehicles (curbsiding), many with rolled back odometers.  

Investigators for OMVIC, Ontario’s vehicle sales regulator, found the accused bought 26 vehicles in 2018, many with very high mileage. Then, posing as private sellers, they offered the vehicles for sale on Kijiji. The odometers of many of the vehicles had been rolled back by significant amounts — in some cases, 200,000 to 300,000 kms . Euro Premium Auto Ltd., a corporation directed by one of the accused, was used to acquire many of the vehicles.  

By OMVIC Communications on Thursday, January 24, 2019

negative equity

Friday, January 25th is “Opposite Day.” We’re not sure who invented this special day, but we think it must be the same committee who decreed May 24th “National Scavenger Hunt Day” or August 12th “Middle Child Day.”

There seems to be no real consensus on how to celebrate Opposite Day – some eat breakfast for dinner or wear their clothes backwards. For OMVIC, Opposite Day is the perfect time to talk about negative equity, an expression that reveals itself to be contradictory. Negative Equity, just like “jumbo shrimp” and “confirmed rumour”, is an oxymoron.

Defining Negative Equity   

Negative equity actually means that you owe more for a car than what it’s worth. It becomes an issue when you want to trade in that car you still owe money on.   
By OMVIC Communications on Friday, January 18, 2019

Looks can be deceiving. It’s always been the case, but sometimes we conveniently forget.

Take Instagram for instance—you freely like your friend’s pictures of the family’s beautiful cottage, the snapshots of the gorgeous kids, the family trips to Europe, and the endless brunch pics featuring nothing but mimosas and smiles. And while you’re busy liking the posts, you start to wonder how someone’s life could be so perfect.  Instagram is all surface and deep down we know it, but, oh, how we get seduced by the way things look.

The same is also true with cars.

 

By OMVIC Communications on Friday, January 11, 2019

lease

If you’re thinking of leasing your next vehicle, it’s crucial to make an informed decision. Failure to do so could result in financial headaches down the road.

What is a Lease?

A lease is like a long-term car rental - you don’t actually own the vehicle. A leasing agreement typically runs over a series of months (36, 48, 60) with a set monthly payment. Leasing is available for both new and used cars.

The dealer and the company that owns the leased vehicle (lessor) are most often not the same organization. The dealer helps arrange the lease and offers other services to the consumer (lessee). Generally, the dealer does not handle the monthly lease payments and is not the organization with which you sign the lease; these functions are performed by an independently owned and operated finance company

By OMVIC Communications on Friday, January 4, 2019

TPL presentation

As we slip into the driver’s seat and head out on the road in 2019, let’s look back in the rear view one more time. 2018 saw OMVIC on the road educating consumers about their buying rights and promoting industry professionalism by ensuring dealers and salespeople were informed of the regulations governing vehicle sales in Ontario.  

By OMVIC Communications on Thursday, December 20, 2018

news release icon

OMVIC, Ontario’s vehicle sales regulator, is warning consumers not to purchase vehicles from Arif Adnan Syed, Hafsa Nasser or Syed’s company, Euro Premium Auto Ltd. Note: Euro Premium is not a registered dealer.

OMVIC believes Syed and Nasser are curbsiders — illegal, unlicensed dealers. Operating from a home in central Unionville, the couple are allegedly buying high mileage vehicles and then, posing as private sellers, offering them for sale on Kijiji. The odometers of many of the vehicles sold have been rolled back by significant amounts — in some cases, 200,000 to 300,000 kilometres.

 

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