Lease buyouts do not require an MFA

DATE: | Industry bulletins

AMVIC has consulted Alberta Transportation regarding the previously communicated need for MFAs on lease buyouts as per a Jan. 30, 2019 industry bulletin. It has been determined that where a consumer leases a new vehicle and decides to exercise an option to purchase at the end of the lease, Section 15 of the Vehicle Inspection Regulation does not require that the automotive business provide a Mechanical Fitness Assessment (MFA).  

Therefore when a consumer leases a new vehicle and exercises the option to purchase at the end of the lease, an automotive business is not required to attach an MFA to the bill of sale to comply with Section 31.2(1) of the Automotive Business Regulation (ABR).

AMVIC’s previous communications will be updated to reflect this clarification. If industry members have any questions or concerns, please contact AMVIC’s industry standards team at industry.standards@amvic.org.