OMVIC Study Guide 2026

The MVDA requires registered dealers to retain all transaction records including bills of sale for a minimum of 3 years for compliance and audit purposes.

Structural damage is a mandatory disclosure item regardless of repair cost; dealers must inform buyers of known structural damage prior to sale.

OMVIC requires that advertised prices must represent the total amount the consumer will pay, including all mandatory fees and charges (except HST and licensing fees, which must still be clearly disclosed). Hidden charges not included in the advertised price are prohibited.

OMVIC defines all-in price as the total price the consumer will pay including all dealer-generated fees, with the only permitted exclusions being HST and actual government licensing charges.

The MVDA and OMVIC regulations require that all vehicle purchase contracts include complete vehicle identification, the agreed price, and a full breakdown of all fees and charges so consumers know exactly what they are paying.

OMVIC-registered dealers are ethically and legally obligated to disclose all material facts about a vehicle. Material facts include any information that could reasonably influence a consumer's decision to purchase, such as accident history, previous use, or significant damage. This transparency empowers consumers to make well-informed choices and protects them from purchasing vehicles with undisclosed issues.