Do you know what negative equity is? It’s when the amount you owe on a vehicle is actually more than the current value of the vehicle. If a consumer decides to trade in their vehicle before the current loan is paid off, the debt from that previous loan could carry over to the new vehicle … Continued
Read MoreDoes your automotive business have a website with a “disclaimer” at the bottom? Ensure the disclaimer statement aligns with all-in advertised pricing legislation as set out in Section 11(2)(l) of the Automotive Business Regulation (ABR). The ABR, Section 11(2)(l) states that businesses must include “[…] in the advertised price for any vehicle the total cost … Continued
Read MoreWhen shopping for your next vehicle, consider what best suits your needs in both vehicle type and price. Are you looking for a larger family vehicle, or are you looking to downsize to a smaller vehicle that is economical on gas? What is your price range? Do you want to lease or buy? If you’re … Continued
Read MoreHow does having an accurate and compliant bill of sale help your automotive business succeed? Not only is it required by law, but it increases transparency and builds trust with consumers. It also acts as a written record to help resolve any kind of dispute. By capturing all the information, you can ensure your business … Continued
Read MoreFirst time buyers can sometimes feel overwhelmed with the vehicle purchasing process. With so many different options out there, it’s important not to make any rushed decisions when it comes to buying your first vehicle. If you decide to purchase a vehicle, make sure the automotive business you are dealing with is AMVIC-licensed by looking … Continued
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