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Protect yourself. Read these important car-buying tips before you sign!
Friday, July 20, 2018
Thinking about buying a used car? There is so much information out there, paring down what is essential can seem like a daunting task.
Once you have narrowed down your options on budget, brand of vehicle and are ready to start visiting dealerships, knowing about disclosures is essential.
The mandatory disclosure requirement is one of the key pillars of protection offered to Ontario consumers who purchase from an OMVIC-Registered Dealer. Ontario’s Motor Vehicle Dealers Act (MVDA) requires dealers to disclose in writing a vehicle’s past use, history and condition. For example, if a vehicle has been in a collision and the damage exceeded $3,000, the dealer must disclose that.
Providing disclosure verbally does not meet the requirements of the MVDA. Even if the dealer or salesperson verbally tells you about a previous collision or flood damage to a car, it is meaningless - unless the statements appear clearly on the contract in writing.
Visit our page on mandatory disclosures for the full list of disclosures that dealers and salespeople in Ontario are required to make.
As the regulator of motor vehicle sales in Ontario, OMVIC protects consumers and maintains a fair and informed marketplace by:
Visit OMVIC.ca to learn more about your car-buying rights.
Ontario Motor Vehicle Industry Council @omvic_consumers @omvic_official Ontario Motor Vehicle Industry Council www.omvic.ca www.ontario.ca/page/consumer-protection-ontario