OMVIC Practice Test

When is a Used Vehicle Information Package (UVIP) not required?

1. Dealer sales

2. Private sales

3. Consignment sales

4. Transactions over $10,000

The correct answer is: Private sales

A Used Vehicle Information Package (UVIP) is essential for providing potential buyers with vital information about a used vehicle's history, including details on registration, lien status, and past insurance claims. However, it is generally not required for private sales between individuals. In such cases, the seller does not have the same obligation to provide a UVIP as a dealer would. For dealer sales, a UVIP is mandatory as these businesses are regulated and must disclose complete vehicle information to protect consumers. Similarly, for consignment sales, the dealer is responsible for presenting a UVIP to potential buyers because it is part of their obligation to ensure transparency. Regarding transactions over $10,000, the requirement for a UVIP also holds to assist in the due diligence process surrounding higher-value sales. Thus, in private sales, the seller is not bound by this requirement, allowing a more straightforward transaction process between individuals.