OMVIC Practice Test

A significant requirement for a dealer when selling to a consumer is the provision of a written contract with terms and conditions. This written contract is essential because it lays out both the dealership's responsibilities and those of the consumer, ensuring clarity and understanding between both parties. It typically includes details about the sale, such as the price, any specific terms of the transaction, warranties, and the responsibilities regarding the vehicle. This documentation is fundamental in protecting the rights of consumers, as it serves as a legal reference should any disputes arise following the transaction. While offering an extended warranty, a buy-back option, or disclosing financing options may enhance the customer experience or provide additional value, they are not universally required elements of the sale. The legal requirement focuses on having a clear and comprehensive contract to govern the sale, making it a critical obligation for dealers.