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OMVIC Blog: Car Buying Tips

Understanding Contracts: Basic Vehicle and Options

Oct 23

Written by: OMVIC Communications
Friday, October 23, 2020  RssIcon

 The next section we’ll review is the Basic Vehicle and Options Section. Though short, this is where you will find Optional Extras such as trim packages or other upgrades that might include leather upholstery, heated seats or audio systems. Ensure when you read the contract all additional features you requested on your vehicle are listed.  

Each term in the sample contract section is numbered so it corresponds with the numbered definition below.

Basic Vehicle and Options Section

    1.Basic Vehicle Price:This is the vehicle's price with standard equipment and the manufacturer's warranty. The basic vehicle price doesn't include optional add-ons like a sunroof or an upgraded audio system.

    2.Optional Extras (MSRP):Each vehicle model and trim level has optional features, like a GPS navigation system, heated steering wheel, reversing camera you can get installed in your car for an additional cost.

    3.MSRP:This stands for manufacturer's suggested retail price. It’s the price the manufacturer sets and recommends a dealership charge for its vehicles.

    4.Total Basic Vehicle (And optional extra price, total MSRP):This is the Optional Extras and Basic Vehicle Price added together.

    5.Pre-Delivery Inspection:This is also called a Pre-Delivery Expense. Some dealers charge a fee for preparing a new vehicle and ensuring it is ready for the road.

    6.Total Sale Price:The Total Sale Price is the tally of the Basic Vehicle Price, Optional Extras and the Pre-Delivery Expense. The Total Sale Price does NOT include freight, federal air conditioner tax, any dealer administration fee or the OMVIC fee (if the dealer is passing it along).


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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