The VSA's glossary of terms
A balloon payment is a large, lump-sum payment that is scheduled or due at the end of a series of considerably smaller periodic payments. It may be included in the payment schedule for a loan, lease, or other stream of payments.
When you purchase a new vehicle with a lead-acid battery, a provincial environmental battery levy of $5 is paid with only GST due. The levy does not apply to used vehicles, except when a new battery is placed in a used vehicle as part of the sale agreement. The purchaser is required to pay the levy and GST and PST are charged.
British Columbia Automobile Association. A non-profit organization providing towing, insurance, travel and inspection services.
|Bill of Sale||
The Bill of Sale is a legal document used to transfer the title to personal property from the seller (dealer) to the buyer (consumer). It is prepared by a seller and reports that on a specific date, at a specific locality, and for a particular sum of money and/or trade, the seller sold to the buyer a specific vehicle of which he had lawful possession.
Canadian Black Book is a source for new and used vehicle pricing and information.
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