The Motor Vehicle Sales Authority of British Columbia

In reference to a credit agreement, means a period during which interest accrues on money advanced to a purchaser to purchase a vehicle, but that interest will be forgiven if the purchaser satisfies the conditions specified in the credit agreement. This means that the dealer may be entitled to interest for this period if the purchaser doesn’t meet the conditions of the agreement, for example, by defaulting on payments.

Gross Vehicle Weight Rating is the maximum allowable total weight of a motor vehicle or trailer when loaded; including the weight of the vehicle itself, plus fuel, passengers, cargo and trailer.