OMVIC Practice Test

True or false: A customer who is also a registered dealer can also cancel

1. True

2. False

The correct answer is: True

A customer who is also a registered dealer has the right to cancel a transaction, as registered dealers have certain consumer protections and rights that enable them to participate in the market similar to regular consumers. This flexibility allows dealers to engage in the buying and selling of vehicles while still retaining the same consumer rights, including the ability to cancel purchases under specific conditions. In this context, it's important to recognize that registered dealers operate within a regulated framework that is designed to protect both their interests as business operators and their rights as consumers. Thus, if a registered dealer decides they want to cancel a transaction, they can do so in accordance with applicable laws and regulations that govern dealer conduct and consumer transactions.