As you go in to buy a used vehicle, it is very important to know what your rights and responsibilities may be. As an insurance provider for auto insurance in Toronto, we have heard of a number of scams across Ontario in purchasing vehicles. Here are some of the rights you have as you are buying a new and used vehicle:
Your contract cancellation of 90 days
If you buy a vehicle from a dealer, you can cancel within 90 days if the make, model and year has been misrepresented on the sales contract, there are not accurate details of past use, or if the vehicle’s odometer reading has been changed. The vehicle may also have been branded by the ministry of transport as irreparable or salvage, in these rare instances, you can also dissolve your sales contract.
You don’t need a cool off for the sale
The contract or bill is binding as soon as you sign it. If you see a contract with a gap in ownership between signing and sale of the vehicle, you may ask to renegotiate.
All inclusive price
Many advertisements show the final price of the vehicle as an all inclusive price. Ads do not show the price without tax, you can only see these at the dealership.
There is an arbitration plan
The Canadian motor vehicle arbitration plan offers free arbitration with manufactures if you experience a defect or manufacturing issue with your vehicle. If you get a new or used vehicle with a recurring defect or failure that is common from the manufacturer the plan may work to help you repair it or be compensated for damages.
Keep some of these ideas in mind as you a buying a new or used vehicle. Should you have any problem with the purchase or insuring a new vehicle, contact our experts in Toronto Auto insurance today.
