AMVIC has partnered with the Competition Bureau’s Fraud Prevention Forum to raise awareness on fraud and educate consumers and industry on how to recognize, reject and report fraud.
AMVIC wants to remind consumers to be aware of fraudulent information on documents.
AMVIC is seeing an increase in complaints regarding fraudulent information being recorded on bills of sale, financing applications, etc. AMVIC is reminding consumers that it is illegal to provide fraudulent information in order to be approved for financing.
Section 31.2 of the Automotive Business Regulation states all information that must be included on the bill of sale and recorded accurately. All fees and charges, the total cost of the vehicle, any deposits or down payments and any remaining balance are examples of information that must be included.
Bills of sale must match the information provided in financing applications. Consumers need to be diligent of what the salesperson is writing in the application form. If a document requires your signature, it is important. Read every word and ask questions if you do not understand.
Protect yourself and be aware of the different kinds of fraud that could take place when it comes to buying and owning a vehicle.
Where to turn if you encounter fraud:
For complaints regarding inaccurate documentation, turn to amvic.org.