OMVIC Practice Test

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Dive into the OMVIC Practice Test and test your knowledge on laws, regulations, and ethical practices in the automotive industry. Perfect for aspiring dealers and salespersons to validate their expertise!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Under what circumstances must a dealer get permission from the court to repossess a vehicle?

If the vehicle was sold 'as-is'
If the consumer defaults but has paid off more than two-thirds of the total purchase price
Within the first year of purchase
If the vehicle is a commercial vehicle used for business purposes

The correct answer is: If the consumer defaults but has paid off more than two-thirds of the total purchase price

In this scenario, option A is incorrect because the vehicle being sold 'as-is' would not require the dealer to get permission from the court for repossession. Option C is also incorrect as the timeframe of within the first year of purchase does not impact the dealer's ability to repossess the vehicle. Option D is also incorrect because the purpose or use of the vehicle does not determine whether the court's permission is needed for repossession. Only option B is correct because if the consumer has defaulted but has paid off more than two-thirds of the total purchase price, the dealer must obtain permission from the court before repossessing the vehicle. This is because the consumer has paid a significant portion of the vehicle's value and it would be unfair for the dealer to repossess it without the court's approval.