Navigating the financial maze: why understanding risks associated with financing is crucial

Financing a vehicle purchase can be an exciting endeavor, but it can also be fraught with risks anduncertainties. Many consumers may overlook critical aspects of vehicle financing that can have long-lasting consequences on their financial health. Financial risks of GAP insuranceGuaranteed Auto Protection (GAP) insurance is designed to cover the difference between the actualcash value…

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The importance of knowing the history of a vehicle you are purchasing

Every car carries its own story, a narrative woven through its history of travels, traffic slips, and previous use. For many, the prospect of purchasing a vehicle, whether new or used, is not just about acquiring a mode of transportation but also knowing the vehicle’s past and how it will impact you. Understanding this narrative…

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Curbsiders: beware and buy from OMVIC registered dealers for protection and peace of mind

Buying a car can be an exciting experience, but it’s crucial to be cautious and informed, especially when dealing with private sellers. Among the many risks associated with private sales, one notable threat is the presence of curbsiders. Curbsiders are individuals who illegally pose as private sellers but are, in fact, unregistered dealers. What is a curbsider? A curbsider…

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OMVIC’s Compensation Fund may be there to help consumers at a loss

Consumers may be entitled to compensation for any financial loss during their car-buying journey There are instances where, unfortunately, many consumers find themselves in difficult situations after they have purchased a new or used vehicle. Specifically, financial loss and no one wants to incur this, not even if it’s a temporary one. Thankfully, OMVIC may…

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Don’t put yourself (and your wallet) at risk.

You’re protected by a compensation fund only if you buy from an OMVIC-registered dealer. Would you like added financial security when buying or leasing a vehicle in Ontario? Then buy from an OMVIC-registered dealer. All consumers have rights under the Motor Vehicle Dealers Act (MVDA) and Consumer Protection Act (CPA) in Ontario, when purchasing a new or used…

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Purchasing a new or used vehicle? It’s important to understand how all-in-price advertising works – it’s the law in Ontario.

However, there are a few “exceptions” to when dealers can add fees Primarily, it’s imperative to understand that all consumers have rights under the Motor Vehicle Dealers Act (MVDA) and Consumer Protection Act (CPA) in Ontario when purchasing a new or used vehicle from an OMVIC-registered dealer. That Facebook Marketplace or Kijiji ad might catch…

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