OMVIC Contracts and Consumer Rights Flashcards
7 cards from real OMVIC practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 OMVIC Contracts and Consumer Rights flashcards as text
Under OMVIC regulations, what is the maximum number of days a consumer has to cancel a contract if the dealer failed to provide the required written statement of buyer's rights?
Answer: 90 days
If a dealer fails to provide the required buyer's rights statement, the consumer has 90 days to cancel the contract.
A dealer adds a $300 'dealer prep fee' to the final contract that was not disclosed in the original price advertisement. Under OMVIC rules, this practice is:
Answer: A violation of the all-in price advertising requirement
OMVIC requires all-in price advertising, meaning all fees must be included in the advertised price, not added later.
When a consumer purchases a used vehicle 'as-is' from a registered dealer, which of the following statements is TRUE?
Answer: The dealer must still disclose known material defects
Even in as-is sales, dealers must disclose known material defects; the as-is clause does not eliminate this statutory duty.
Under the Motor Vehicle Dealers Act, a purchase contract must include the vehicle's odometer reading. What is the purpose of this requirement?
Answer: To establish a record for potential odometer fraud claims
Recording the odometer reading at sale creates a documented baseline to identify and prosecute odometer fraud.
A consumer signs a purchase agreement but the dealer later demands an additional $1,500 because 'costs increased.' Under OMVIC rules, the consumer's correct response is:
Answer: Refuse and hold the dealer to the original contract price
A signed purchase agreement is binding on the dealer; unilateral price increases after signing violate OMVIC regulations.
Which of the following is a mandatory disclosure on a used vehicle contract under Ontario's Motor Vehicle Dealers Act?
Answer: Whether the vehicle was previously used as a daily rental
Dealers must disclose if a used vehicle was previously used as a daily rental, taxi, police vehicle, or emergency vehicle.
If a consumer is financing a vehicle through a dealer and the dealer is receiving compensation from the lender, OMVIC requires the dealer to:
Answer: Disclose this compensation to the consumer in writing
Dealers must disclose any compensation received from lenders when arranging consumer financing, as this represents a potential conflict of interest.