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OMVIC, Ontario’s vehicle sales regulator, has recently heard from a small number of consumers who encountered problems when trading-in vehicles to a dealer. These consumers traded-in vehicles that still had money owing on them — loans that were to be paid off by the dealer as part of the financing of the consumers’ new vehicles. “Unfortunately the dealers did not pay off the loans immediately,” explained Laura Halbert, OMVIC’s Director of Compliance. “This left the consumers making payments on their new cars as well as on their trade-ins.”
65 Overlea Blvd.
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