The Motor Vehicle Sales Authority of British Columbia
The VSA's glossary of terms
| Term | Definition |
|---|---|
| Odometer |
An odometer is a device used for indicating distance traveled by an automobile or other vehicle. It may be electronic or mechanical. |
| Offer to Purchase |
A formal legal agreement which offers a specified price for a specified vehicle. The offer may be firm (no conditions attached) or conditional (certain conditions apply). |
| Option to Purchase |
Also known as Lease Purchase Option. It grants the lessee the right to purchase the vehicle during the term of the lease. The lessee can gain credit towards the purchase price with each lease payment. |
| Owner's Certificate of Insurance and Veh |
The top 2/3 of the document you get from your broker when you register, license and insure your vehicle. The signed certificate must be carried in your vehicle as proof that the vehicle is licensed and insured. |
Consumer Information
Tip of the Week
April 08, 2013
PST Rules for Leased Vehicles
April 05, 2013
Suzuki Leaves Canadian Vehicle Market
March 26, 2013
Where Flood Damaged Vehicles Should Go
March 20, 2013
VSA Takes Part in Consumer Awareness Week
March 19, 2013
Same Sales Tax with Dealers, but Benefits Greater
March 11, 2013
