So you’ve waited a loooong time to get your driver’s licence – and now you’re on the hunt for your perfect ride. Here are three things you should know before signing that vehicle sales agreement.
Did you know that once you purchase a car, there is often no return option? People sometimes believe there’s a grace period after buying a car when you can return it, but there are no such laws in BC (although individual dealerships may have a return policy – be sure to ask). So before you sign that sales agreement, stop and think about these things:
- Know how much you’re paying. Be aware of extra costs, such as taxes and negotiable fees. In BC, the advertised price must be the total price – that means it must include all costs and fees, except taxes. There shouldn’t be any surprises!
- Understand your deposit terms. Is the deposit just to hold the car for a specific period of time, or is it a partial down payment? When will you get it back?
- Research the vehicle. Ask for a vehicle history report. A licensed dealer must share with you the history of a used vehicle, including specific information about prior use and anything you’ve noted as important when making a decision.
Remember: all dealers must be licensed with the Vehicle Sales Authority of BC.
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