The VSA's glossary of terms
Any advertisement by a vehicle dealer or group of dealers.
The cost of a specific vehicle to the dealer minus any discounts, volume rebates or other reductions from the manufacturer or supplier in the cost of placing that vehicle in the dealer inventory. Dealer cost must not include any allocation for the dealer’s overhead or operating expense.
A stock of new or used vehicles that a dealer has on hand and which the dealer has authority to sell.
A warranty on a used vehicle provided by a dealer that is usually limited to a specified period of time and distance travelled, and may include coverage limits such as a power train warranty or a savings on labour.
|Dealership Mechanical Inspection||
An inspection completed by the dealership staff and provided to the buyer. Dealership inspections can be very limited or very comprehensive. Always request a copy if one is not provided.
At time of sale a dealership must declare: whether the motor vehicle has been used as a taxi, police or emergency vehicle or in organized racing; whether the motor vehicle has:
i)in the case of a new motor vehicle, sustained damage requiring repairs costing more than 20% of the asking price of the motor vehicle, or
ii)in the case of a used motor vehicle, sustained damages requiring repairs costing more than $2000; whether the motor vehicle has been used as a lease or rental vehicle; whether a used motor vehicle has been previously registered in another province or country; or whether the odometer of the motor vehicle accurately records the true distance travelled by the motor vehicle.
The motor dealer must also declare that the motor vehicle meets the requirements of the Motor Vehicle Act, or if it is not suitable for transportation, must state that in all written representations about that vehicle.
A vehicle that has been used by a motor dealer in the course of normal business operations and was acquired new. If the vehicle has never been registered to a new owner it is still considered a new vehicle.
it is taken in during a transaction, a deposit may be a separate agreement for a variety of services. It could be an agreement for services: to hold a vehicle; to locate a vehicle; to bring in a vehicle; and/or to arrange financing for a vehicle. Info from Consumer Affairs Victoria.
An optional insurance plan which covers the policy holder in cases of short and/or long term disability. The amount of coverage varies from plan to plan.
Any insurance company can designate a vehicle as Dismantle Only, which means that the vehicle cannot be repaired and driven.
Tip of the Week
April 08, 2013
April 05, 2013
March 26, 2013
March 20, 2013
March 19, 2013
March 11, 2013