OMVIC Practice Test

Question: 1 / 400

What must dealers include in a written agreement with buyers?

Only the final sale price

All terms of the sale, including price and financing

In a written agreement with buyers, dealers are required to include all terms of the sale, which encompasses both the price and any financing details. This comprehensive approach ensures that buyers are fully informed of their purchase, which aligns with the principles of transparency and fairness in the automotive sales process. Including all relevant terms helps prevent misunderstandings and protects both parties by clearly outlining expectations. Providing a detailed account of the sale allows buyers to make informed decisions and promotes accountability within the dealership. By documenting every aspect of the transaction, including any financing options available, dealers comply with legal obligations and foster trust in the buyer-seller relationship.

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Only the financing details

Just the dealer's contact information

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