Protect yourself. Read these important car-buying tips before you sign!
When buying a car from an OMVIC-Registered Dealer or privately, it’s important to protect yourself. One of the key steps before you decide to purchase is to take the vehicle on a thorough test drive. Don’t just take it around the block.
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.
65 Overlea Blvd.
Toronto ON M4H 1P1