How you're protected when buying a car
Protections when you get a car loan
If your car loan is with a federally regulated financial institution, like a bank, federal consumer protection laws apply.
If your lender isn’t federally regulated, provincial or territorial consumer protection laws may apply. Keep in mind that regulations may not apply to some independent companies that specialize in car financing.
Federal, provincial and territorial consumer protection laws require that your lender or dealer give you a disclosure statement. They must do so before finalizing the agreement.
The disclosure statement explains the total cost of borrowing and other important information. Read it carefully before signing it. Make sure you ask for a copy.
Filing a complaint about your car loan
If you have a complaint related to your car loan, contact your lender directly. All federally regulated financial institutions must have a procedure for handling complaints.
Protections when you get a car lease
When you get a car lease, provincial and territorial consumer protection laws apply.
Most provinces and territories require that your dealer gives you a disclosure statement. They must do so before you agree to lease the car.
The disclosure statement explains the total cost of leasing the car and your obligations under the lease agreement. Read the disclosure carefully before signing it. Make sure to ask for a copy of the disclosure statement.
Filing a complaint about a registered car dealership
Provincial and territorial regulations apply to dealerships and car sales. If you believe a dealer misrepresents themselves, contact your provincial or territorial Consumer Affairs office.
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