Harm to a vehicle that require $2,000 or more to repair.This harm is not limited to damages from accidents. The $2,000 amount is the cumulative cost of repairs of all incidents.
Damage(s):
Dealer Advertisement:
Any advertisment by a vehicle dealer or group of dealers.
Dealer Cost:
The actual amount a dealer must pay a manufacturer or supplier for a specific vehicle. This amount is the value of that vehicle minus certain amounts. These amounts include discounts, volume rebates, or other reductions from the manufacturer or supplier. These amounts must not include any reduction for the dealer's overhead, operating expense, or profit.
Dealer Fees:
Documentation, administration, and other negotiable processing charges added by dealers to the price of a vehicle. Non-negotiable charges should be included in the advertised “total price” of the vehicle. Non-negotiable charges must not come as a surprise to the buyer. They must be disclosed before negotiating a final price.
Dealer Inventory:
A dealer’s on-hand stock of new or used vehicles that the dealer has the authority to sell.
Dealer Warranty:
A warranty on a used vehicle. This warranty is usually limited to a specific period of time and distance travelled. This warranty may limit coverage to powertrain only or to reduced labour charges.
Dealership Mechanical Inspection:
A vehicle checkup done by dealership staff. These checkups range from a limited to comprehensive review of the vehicle. The results are provided to the buyer. If a report is not provided, buyers should request a copy.
Declarations:
Disclosure of vehicle details required by BC law. These details include whether the vehicle:
Is suitable for transportation
Has ever been used as a taxi, police, emergency, lease, rental, or organized racing vehicle
Has ever been registered outside BC
Has sustained damages requiring repairs totaling more than $2000
Is new and has sustained damages requiring repairs more than 20% of the asking price
Odometer accurately reports the true distance
Meets the requirements of BC law, or states it is not suitable for transportation
Demo Vehicle:
A vehicle acquired new and then used by a dealer during normal business. If the demo vehicle has never been registered to a new owner, it is still considered a new vehicle. Use as a demo must be disclosed to a buyer.
Deposit Agreement:
The terms and conditions agreed upon for a payment of funds. The terms and conditions should include the purpose of the deposit. They should also include whether it is, or will become, a down payment or partial payment for a vehicle.
Deposit:
A payment taken as part of a sale or lease transaction. This payment may be for a variety of services. These services may include holding, locating, or bringing in a specific vehicle. They may also include arranging financing for a vehicle. The payment may be refundable or non-refundable based on what is agreed. To be sure the terms are clear, a written deposit agreement is recommended.
Disability Insurance:
Optional coverage of loan payments in the event of illness or injury that results in an inability to pay. The amount of coverage varies from plan to plan. BC law gives a buyer the option of obtaining this coverage from an insurer of their choice.
Disclose:
To tell a buyer anything that would be “material” to their decision to buy or not buy a vehicle. Disclose is means on top of the specific declarations that must be made for every vehicle transaction.
Dismantle Only:
A status given to a vehicle that cannot be repaired and driven. This status can be given by any insurance company.
Distance Sales:
A transaction completed without the buyer seeing or inspecting the vehicle. Examples of a distance sale include buying a vehicle by phone or over the internet. BC law requires these sales to follow the same rules as an in-person sale. For example, if prices vary for the same vehicle in different active ads by the same dealer, the lowest price applies to the sale.
Documentation Fee:
A negotiable charge for services. These services include administration, vehicle registration, lien checks, and vehicle history reports. Charges of this type must be included in the advertised total price of a vehicle. If not, they must be clearly disclosed as additional.
Down Payment:
A sum of money to be paid by the buyer as an initial part of the purchase price.
