The Pros and Cons of Buying a Rental Car
Aug
23
Friday, August 23, 2019
Because of their low price, rental vehicles may seem like an attractive offer to a car-buyer. While there are a number of perks, there are also some potential drawbacks that consumers need to be aware of. For more information, study the graphic weighing the pros and cons below:
The Bottom Line
Under the Motor Vehicle Dealers Act, 2002 a dealer is obligated to disclose (in an advertisement and on the contract) if a car was a former rental unless subsequently owned by a non-dealer. If the dealer fails to make this disclosure, consumers have up to 90 days from the date of delivery to cancel a contract. More information on mandatory disclosures that can trigger disclosure can be found here
About OMVIC
As the regulator of motor vehicle sales in Ontario, OMVIC’s mandate is to maintain a fair and informed marketplace by protecting the rights of consumers, enhancing industry professionalism and ensuring fair, honest and open competition for registered motor vehicle dealers. Visit omvic.ca to learn more about your car-buying rights as well as additional tips for buying a car in Ontario.
For car buying tips, check out the OMVIC Academy. You can view other resources such as multilingual videos and download the OMVIC Car-buying Guide.
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