Who Protects Car Buyers?
Jun
10
Friday, June 10, 2016
What Is OMVIC?
OMVIC (Ontario Motor Vehicle Industry Council) is Ontario’s vehicle sales regulator. With a mandate to protect consumers OMVIC enforces the Motor Vehicle Dealers Act and other consumer protection statutes on behalf of the Ministry of Government and Consumer Services.
How does OMVIC Protect Consumers?
Maintaining 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 is OMVIC’s mission. This is accomplished through these initiatives:
- Providing FREE consumer inquiry/ complaint handling services to consumers in 150 different languages
- Maintaining strict dealer/ salesperson registration requirements
- Enforcing strict rules surrounding dealer advertising
- Inspecting all Ontario dealers (new and used)
- Developing and delivering consumer and dealer education/ awareness programs
- Investigating and prosecuting industry non-compliance and illegal sales (curbsiding)
- Administering the Motor Vehicle Dealers Compensation Fund – a consumer protection program financed by Ontario’s registered motor vehicle dealers
What is the OMVIC Fee?
OMVIC receives no government funding. Its revenues are predominantly derived from dealer and salesperson registration renewal fees; the transaction fee is a part of the dealer’s renewal fee. Here’s how it works:
Registered dealers must pay to OMVIC $10 for each retail (including fleet and export transactions) sale or lease. This money is remitted annually along with the dealer’s regular renewal fee. While not all dealers pass the transaction fee on to their customers, it is allowed and many do. As of October 1, 2015 the transaction fee increased from $5 to $10.
To learn more about OMVIC and the services it provides, please visit www.omvic.ca
Connect with OMVIC on social media!
Ontario Motor Vehicle Industry Council
@omvic_consumers
@omvic_official
Ontario Motor Vehicle Industry Council
www.omvic.ca
www.ontario.ca/page/consumer-protection-ontaro
Copyright OMVIC ©2016