View Single Post
      09-01-2011, 01:04 PM   #28
pmd
New Member
Canada
0

 
pmd's Avatar
 
Drives: 2008 E90 JB 6MT
Join Date: Mar 2010
Location: Toronto


Posts: 27
iTrader: (0)

Quote:
Originally Posted by aspiring335 View Post
http://www.omvic.on.ca/services/cons...posit_back.htm

From this link:

Since there is no provision for a "cooling off" period in Ontario's law, if you want to cancel a vehicle purchase agreement the dealer is entitled to claim "liquidated damages" and retain a part or all of your deposit. Liquidated damages arise from the expenses the dealer might have already incurred in when selling the vehicle to you: e.g. advertising, freight and administrative costs, as well as from the loss of profit resulting from this cancellation.

Basically the dealer has to prove in the form of an itemized list the actual liquidated damages incurred by the cancellation. They can't keep the deposit as an arbitrary penalty just because a buyer cancelled an order.
Interesting read..the only problem is I'm missing the ADDITIONAL TERMS pages of my contract since I only received a photocopy of the first page. I have sent an email to both the CA and Sales Manager requesting the other pages.. however I have doubts that they will send it to me.