Alberta became the main economic centre of Canada in the 2000s due to the vast oil reserves in the area. It is helping the region to maintain one of the lowest unemployment rates throughout the country. Because of this, many families in the province already have a car or are looking to buy one, with many of those people looking to finance their vehicle. At Car Loans 411, you can quickly apply for a car loan even if you have bad credit and as soon as tomorrow sit behind the wheel of a brand new car.
If you are looking to buy or lease a new or used car from a registered salesperson or dealership in Alberta, then you have rights under the Fair Trading Act.
The Alberta Motor Vehicle Industry Council (AMVIC) enforces the Trading Act in the province of Alberta. Every dealer or business which sell cars must be registered with AMVIC.FIND A CAR IN ALBERTA
There is no “cooling-off period” and when you take full ownership of the vehicle, you cannot change the terms or cancel the contract. If you change your mind or find a better deal, then the dealer can legally enforce the contract.
Curbsiders are individuals who are operating without the proper sales license from the AMVIC and most often, these people sell damaged or stolen vehicles. Consumers who have purchased these cars are often faced with problems and have limited recourse. You can perform a quick search on amvic.org or make a phone call to check out if the person you are dealing with is legit.
An AMVIC-licensed seller or dealership which advertises must include all fees and charges that the dealer intends to charge the buyer. Only GST or financing costs can be added to the final price. All vehicles within the dealership lot should be available at the time the ad is placed. This does not apply to the manufacturer ads which are not regulated by AMVIC. The seller is permitted to increase the price if the buyer requests additional features that weren’t displayed in the car ad.
If you are buying a vehicle that is five years old or newer, then you can argue with the car manufacturer about the quality of your vehicle via the Canadian Motor Vehicle Arbitration Plan (CAMVAP) if necessary. This program resolves manufacturing defects cases through binding arbitration. CAMVAP covers both domestic or imported passenger cars that are bought in Canada.
If a consumer suffered a vehicle loss from any of the AMVIC-licensed businesses or salespersons, and that business goes out of business or closes their doors and is unable to compensate the consumer then he or she can submit a claim to Alberta Motor Vehicle Industry Council for cash compensation up to $25,000. This law applies only to absent businesses. If the business is not absent, and an offence has occurred, the AMVIC can take the right enforcement action to return the money to the consumer.
For all residents of the province of Alberta that are planning to buy a new or used vehicle, we recommend using our buyer’s checklist:
Know your financial limits and do your research on available models from several dealers.
Carefully review the details of the contract and potential deposits that you are asked to leave.
If the dealer offers you new promises or details during the negotiations, ask them to provide it in writing.
Do not sign a purchase contract if you are not familiar with all the terms. Take time to understand and read it.
Be aware of all the nuances of a financial contract before you sign it.
Always ask the dealer or salesperson for copies of all signed document and keep them in your records.