2 Reports Every Used Car Buyer Should Have
Before you buy that used car you've been eyeing, make sure you have these two reports in hand.
Last week we reviewed questions to ask a private seller before purchasing a used vehicle in Ontario. This week we'll go over two very important reports every buyer should have in hand prior to closing the transaction.
Used Vehicle Information Package (UVIP)
The Ontario Ministry of Transportation requires that every buyer of a privately sold, pre-owned vehicle is provided with a used vehicle information package (UVIP). It contains:
- Vehicle details (year, make, model, colour, body type, cylinders and power)
- Vehicle registration history in Ontario (including present and previous owners, city of residence, odometer reading)
- Info about the vehicle currently attached to that plate number
- Vehicle lien information (a lien claimant has a right to the car or the amount owed from you)
- Average wholesale value of the vehicle (minimum value on which Retail Sales Tax (RST) will apply)
- Retail Sales Tax (RST) information
- Condition of vehicle (see items below)
- If it’s mechanically unfit and has not received a Safety Standards Certificate
- If it’s been completely dismantled or crushed
- Bill of sale section
There are certain exceptions in regards to family. Visit the Ontario Ministry of Transportation website for more information.
CARFAX Canada Report
CARFAX Canada provides the most comprehensive and reliable vehicle history reports in Canada. It includes accident and lien information. Visit CARFAX.ca with a VIN to get started.