For consumers purchasing a new or used vehicle, it's important to consider financing options. For many, buying a car is the second biggest purchase you will make, right after buying a home. Therefore, understanding car financing options, terms, advantages, and disadvantages are crucial for ensuring a smooth purchase.

Buying or leasing your first car is an exciting moment. A used vehicle is a great option for value-conscious, first-time buyers in Ontario, especially with new cars and trucks in short supply. But before you sign any contract, make sure you know the history of your new ride, so you’re not left stranded at the roadside, saddled with surprise repair bills, or stuck with a vehicle worth considerably less than what you paid for it.

Have you been thinking about buying a used car? Are you unsure about the questions to ask? You can always turn to Ontario Motor Vehicle Industry Council (OMVIC) for essential information during the car-buying process.

Educating yourself may seem like a daunting task, but you’ll be thankful you asked the right questions.

To make the right decision when financing a motor vehicle, consumers must take into account several factors. In most cases, consumers will use their personal line of credit or arrange for financing at their own bank or credit union, however many opt to have the dealer arrange financing for their purchase.

If you’re looking to bypass those gruelling airport security and customs lines, there is no better way to travel in this day and age than having your own wheels. Owning a vehicle lets you explore places off the beaten path; however, just because you think you’re getting a good deal, doesn’t mean the car will survive the trip you planned.

The Motor Vehicle Dealers Compensation Fund is a consumer protection program financed by Ontario's registered motor vehicle dealers. The fund allows car-buyers, who have purchased from OMVIC-registered dealers and who meet the eligibility criteria, to receive financial assistance if something goes wrong with a vehicle purchase or lease agreement.

Since its creation on July 1, 1986, the fund has paid out over $6 million in compensation to consumers and offers enhanced protection for vehicle buyers in Ontario.

Buying from a registered dealer provides you with some consumer protection and is the safer way to purchase or lease a motor vehicle. Ontario Motor Vehicle Industry Council (OMVIC)-registered dealers are licensed individuals who must abide by industry professionalism standards. By law, they must undergo background checks and successfully pass an automotive law and ethics certification in order to be registered. So, if you’re looking to buy or lease a vehicle, purchase from an OMVIC-registered dealer to ensure you get what you paid for.

March marks national Fraud Protection Month, so here are tips on how to identify and protect yourself from curbsiders when buying a car.

Curbsiders are illegal, unlicensed dealers who pose as private sellers. Two signs that you are dealing with a curbsider include a rolled back odometer or previous write-offs with undisclosed accident repairs.

The price of any new or used vehicle advertised by a dealer must include all fees and charges, excluding HST and licensing. This is called all-in price advertising and it is one of the consumer rights provided to Ontario car-buyers under the Motor Vehicle Dealers Act (MVDA). For car buyers, this means that there are no hidden or additional costs that you may not be aware of. Here are some possible risks and how to protect yourself as a consumer.

When it comes to New Year’s resolutions, one of the most popular is to create and stick to a realistic personal budget to help with important things like paying down debt or saving up for a house, a vacation, or even a new car.

When purchasing a new or used vehicle, it’s important for consumers to identify how they'll finance the purchase. Buying a car is the second most important purchase most consumers make next to buying a home, so protecting your finances and understanding the risks related to vehicle financing are key to ensure a smooth purchase.

Before signing on the dotted line for a vehicle, carefully consider the interest rates and financing options offered and take steps to ensure you get the best possible finance rate and terms. Remember there is no cooling-off period in Ontario so once you sign a contract you are committed to the purchase. Here are some possible risks and how to protect yourself as a consumer.

Getting a vehicle loan may seem like a simple way to make buying a car more attainable. However, consumers must do their research before taking on a long-term loan to avoid negative equity and protect their personal finances.