All shoppers know the checkout drill, you hand over your money, your goods are packaged and then the cashier tells you by rote, “You have 10 days to return or exchange, as long as you have the receipt.” You nod--you probably won’t return your purchase, but it’s nice to know that you could. You walk out the door, and live your life. So here’s a question. When you sign a contract to buy a car from a dealer, there is,

a.       A 24 hour cooling-off period

b.       A 48 hour cooling-off period

c.       A 10 day cooling-off period

d.       No cooling-off period

When it comes to buying a vehicle in Ontario, it is important consumers do their homework before purchasing. But what exactly should that homework entail? Whether buying from a private seller or an OMVIC-Registered Dealer, this mnemonic will help consumers conduct research and ask the right questions during the car-buying process to make an informed purchase.