← Wholesale disclosure

Wholesale disclosure

5 questions. Pick an answer and the explanation reveals below it. Your score updates as you go.

1. Question 1

   When does the wholesale disclosure list in section 5 of O. Reg. 332/08 apply?

   • A Whenever a registered dealer sells or leases a motor vehicle, regardless of who the buyer is
   • B Only when a registered dealer sells or leases a motor vehicle to another registered dealer
   • C Only when a consumer trades in a vehicle to a registered dealer
   • D Only when a registered dealer consigns a vehicle through an auction house

2. Question 2

   In a wholesale dealer-to-dealer contract for a used motor vehicle, what must the selling dealer disclose about distance driven if the dealer can determine that distance?

   • A Only the odometer reading shown at the time of sale
   • B The total distance the vehicle has been driven
   • C The distance driven only since the dealer took the vehicle in on trade
   • D Nothing, because mileage disclosure is required only in retail contracts

3. Question 3

   Under section 5 of O. Reg. 332/08, when does the selling dealer have to disclose damage repair costs in a wholesale contract, and what must be stated?

   • A Only if repairs exceeded $2,000; only the fact, never the amount
   • B Only if repairs exceeded $5,000; the fact and, if known, the actual amount
   • C If repairs exceeded $3,000; the fact and, if the dealer knew the total cost, the actual amount
   • D All incident damage must be disclosed regardless of cost, with the exact amount always required

4. Question 4

   In a wholesale dealer-to-dealer contract under O. Reg. 332/08, the selling dealer must disclose if the vehicle was previously used as a taxi or limousine.

   • A True
   • B False

5. Question 5

   A vehicle was declared a total loss by an insurer two years ago, then repaired and re-registered, and now carries a clean Ontario permit with no irreparable or salvage brand. A registered dealer is selling the vehicle at auction to another registered dealer. What does section 5 of O. Reg. 332/08 require the selling dealer to disclose about the total-loss history?

   • A Nothing, because the current permit is clean and the vehicle was never branded irreparable or salvage
   • B A statement that the vehicle was declared a total loss by an insurer, regardless of any later classification on the permit
   • C Disclosure is required only in retail contracts under O. Reg. 333/08, not in wholesale
   • D Only the original insurer's name and claim number, not the total-loss event itself