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OMVIC Blog: Car Buying Tips

OMVIC’s Compensation Fund—Celebrating 30 Years of Protecting Ontario Consumers

Jan 15

Written by: OMVIC Communications
Friday, January 15, 2016  RssIcon

One of the key protections available to consumers who purchase from an OMVIC-Registered Dealer is having access to the Motor Vehicle Dealers Compensation Fund (The Fund). Established in 1986, the Compensation Fund is celebrating 30 years of protecting Ontario consumers.


About the Compensation Fund:

  • A consumer protection program financed by OMVIC-Registered Dealers.
  • Available to consumers who have experienced a financial loss as a result of a trade (purchase/lease/consignment) with an OMVIC-Registered Dealer.
  • The eligibility criteria is set out in the Motor Vehicle Dealers Act.
  • Consumers who are eligible for compensation may qualify for up to $45,000 per vehicle transaction.

Who is NOT Eligible to Make a Claim?

  • Consumers who purchased a motor vehicle privately (not from an OMVIC-Registered Dealer);
  • Entities who don’t meet the definition of a consumer (e.g. If the motor vehicle was purchased for business purposes);
  • If the consumer is related, by blood or adoption, or is the spouse of an OMVIC-Registered Dealer;
  • The consumer was complicit in illegal activity in the motor vehicle transaction;
  • A consumer who misrepresented the nature of the claim or provides false or misleading evidence in support of the claim.

Making a Claim

It is important for a consumer to first contact the registered dealer in attempt to work out a reasonable solution. If the issue remains unresolved, the consumer may be eligible to make a claim to the Compensation Fund. For more information please review the Compensation Fund Application Package.

Since its creation in 1986, the Compensation Fund has paid out more than 6 million dollars in compensation to consumers! As the oldest and largest fund of its kind in Canada, the Compensation Fund offers the best protection for vehicle buyers in Ontario. For more information visit omvic.ca



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