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Protect yourself. Read these important car-buying tips before you sign!
Friday, December 11, 2015
So you’ve chosen a car. You’ve selected the model, and even the colour you want! One of the next questions to consider is … do you want to buy or lease?
Two Types Of Leases:
Also known as a residual obligation lease, this type of lease:
Lease Payments and End Of Term Costs
At the end of a lease term, if you decide to return the vehicle, additional charges may apply for damage or excess wear and tear. Factors that can contribute to these additional charges include:
In Ontario, there is no cooling-off period when purchasing a vehicle from an OMVIC-Registered dealer – all sales are final. Breaking a lease agreement can be very difficult, as well as expensive. So it’s important … before you sign the contract … do your research and determine if leasing is right for you.
Don’t Become A Monthly Payment Junkie; Negative Equity
An educated and informed consumer is a protected consumer. Visit OMVIC’s website to learn more about your car-buying rights and when they apply, as well as additional tips on buying a car in Ontario.
visit omvic.ca.
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