The ins and outs of the new Dealers Act
Posted by Ben on Jan 25, 2012 in 7th Article | 0 comments Motor Vehicle Dealers accord will protect sellers but be a bigger aid to car and truck buyers. It doesn’t lend itself to snappy headlines, but the newly revamped Motor Vehicle Dealers Act ushers in some welcome benefits for buyers of new and used vehicles and the Ontario dealers they engage. The revised MVDA, which comes into effect on Jan. 1, significantly updates the regulatory framework for motor vehicle dealers and salespeople – the product of six years of teeth-gnashing negotiations between various players in the automotive retailing sector malen app kostenlos downloaden. Some of the changes include full disclosure obligations that will provide more vehicle information to buyers, as well as “all-in” inclusive pricing, increased Compensation Fund claim coverage to $45,000 and stiffer penalties for convictions under the act. “It’s the first dramatic change in auto retailing legislation in 45 years,” says Bob Pierce, director of member services for the Used Car Dealers Association of Ontario bubble games for free. “Consumers will be in a better position to buy with confidence, and dealers are welcoming the changes because they make good business sense.” Pierce has been spending the last three months criss-crossing the province to help dealers get up to speed on the impending changes. The retooled act will impact the business practices of the 9,000 dealers of new and used cars in Ontario. Perhaps the biggest improvement is the enhanced disclosure statement that spells out 22 bits of information dealers must reveal to other dealers (in the case of a trade) or to the consumer as part of the sale revit familien downloaden. Among other things, the mandatory vehicle information will specify: “Incident” damage repairs exceeding $3,000. Known defects in the powertrain, electrical system and air conditioner. Two or more adjacent body panels having been replaced (excluding bumpers). Immersion in water up to the interior floor. Previous vehicle registration outside of Ontario kostenlose apps downloaden. Insurance declared “total loss,” whether branded or not. The disclosure rules cut both ways, Pierce points out. Consumers trading in their vehicles will no longer be able to silently submit their car for trade-in appraisal without answering a battery of questions about the vehicle’s history. “I teach a process to dealers about how they can engage car owners in a friendly chat about their vehicle’s history. Up until now, customers weren’t motivated to talk about their trade-in,” says Pierce clash royale free download...read more