What you need to know about car prices!
- Published On
- February 8, 2022
The price of any new or used vehicle advertised by a dealer must include all fees and charges, excluding HST and licensing. This is called all-in price advertising and it is one of the consumer rights provided to Ontario car-buyers under the Motor Vehicle Dealers Act (MVDA). For car buyers, this means that there are no hidden or additional costs that you may not be aware of. Here are some possible risks and how to protect yourself as a consumer.
Keep a copy of the advertisement
Whether it be in print, on a website or even on your Facebook page, OMVIC registered dealers are, by law, subject to all-in price advertising. As a car buyer, it’s a good idea to always keep a copy on hand so if a dealer tries to increase the price, simply show them the ad.
Get everything in writing
Just as you would when signing any other contract, be sure to write down all pre-purchase discussions with a dealer and get pricing information in writing. When receiving your bill of sale, ensure that the final price is not more than the advertised price.
If it’s more than advertised, walk away
Be sure to check that what is written in the advertisement, is reflected in the bill of sale, such as freight, pre-delivery inspection, administrative fees and others. If the dealer tries to charge extra fees, walk away, and report them to OMVIC.
It is important to note that OMVIC does not regulate vehicle manufacturers, so advertisements placed by manufacturers do not have to comply with the MVDA and all-in price advertising. That said, some manufacturers voluntarily comply with the all-in pricing provision and provide transparency to consumers.
Buying a car can seem daunting, but it doesn’t have to be. OMVIC’s team of experts are here to support you by answering your questions. To reach OMVIC’s Consumer Support Services call 1-800-943-6002.