OMVIC Practice Test

How must a contract disclose extensive damage repairs (over $3,000) to a vehicle?

1. By giving a detailed repair history

2. By only indicating the presence of any damage, regardless of cost

3. With a specific statement about the repair costs if known

4. By advising the buyer to check the vehicle history independently

The correct answer is: With a specific statement about the repair costs if known

A While a detailed repair history may provide some information on the vehicle's damages, it is not necessarily required by law to disclose extensive repairs over $3,000. Therefore, this option may not be the most accurate or efficient way to disclose the information. B: Simply indicating the presence of any damage does not adequately disclose the extent of damage repairs to the vehicle. This option does not provide enough information for the buyer to make an informed decision. D: Advising the buyer to check the vehicle history independently may be helpful, but it does not satisfy the disclosure requirement for extensive damage repairs. The seller is responsible for providing all necessary information in the contract. Overall, only option C specifically addresses the requirement to disclose extensive damage repairs over $3,000 and informs the buyer of the estimated repair costs. This option provides the most transparent and accurate information for the buyer to make an informed decision about