Protect yourself. Read these important car-buying tips before you sign!
Friday, October 2, 2015
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.
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:
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
OMVIC Copyright ©2015
65 Overlea Blvd.
Toronto ON M4H 1P1