Protect yourself. Read these important car-buying tips before you sign!
Friday, October 9, 2015
There’s a common expression shared by carpenters: measure twice, cut once. In other words, do your research before you act. That’s good advice – especially when the action involves making an expensive purchase – like a car. Unfortunately many consumers get caught up in the emotion of buying a new set of wheels and make decisions without doing all their research – they only measure once – and that can lead to “buyer’s remorse.”
It’s one of the most common complaints OMVIC receives – a consumer signed a contract to buy a car but a few hours or days later, has a change of heart…or mind; and wants to back out of the deal. Often it happens when the buyer works out the myriad of extra costs that are attached to car ownership – some, like insurance, can come with a monthly cost as similar to (or greater) than the car loan payment.
But as we pointed out in a previous blog post, there is NO cooling-off period when buying a car in Ontario! Once you a sign a contract, sales are FINAL. So, before signing on the dotted line – to avoid buyer’s remorse – measure twice – make an informed decision and consider the following:
At The Dealership
Once you have done your research and determined which vehicle best fits your needs, it is time to visit the dealer. Keep the following tips in mind when shopping at a dealership:
For more car-buying tips or to learn more about OMVIC visit omvic.ca.
65 Overlea Blvd.
Toronto ON M4H 1P1