Toronto, Ontario – A consumers’ compensation fund for auto purchases has marked its 25th year in Ontario. The Motor Vehicle Dealers Compensation Fund is administered through the Ontario Motor Vehicle Industry Council (OMVIC).
The fund, a fully dealer-supported and funded trust, provides financial assistance to consumers who have a valid claim against a dealer registered in Ontario. Consumers eligible for compensation from the fund may qualify for up to $45,000 per vehicle transaction, the single largest compensation for any motor vehicle anywhere in Canada. The fund is the oldest and largest automotive fund of its kind in the country.
The fund has reimbursed about $5 million over its 25-year history, with many of its claims the result of court-ordered judgments. For more information, visit BuyWithConfidence.