“P,” the amount the taker must pay to the lessor at the end of the rental period if the achievable value of the leased property at the end of the rental period is the estimated residual value of the leased property. This is what the tenant must pay, regardless of what the vehicle is worth at the end of the tenancy agreement, such as a flat termination fee of 500 $US. “R,” the achievable value of the renters at the end of the rental period, as defined under the subsections (2), (3) and (4). Subject to subsections (3) and (4), the achievable value of the leased property at the end of the lease period is the largest: “V” is the estimated residual value of the leased property. The merchant is responsible for signing the contract by the parties and the seller and copying the tenant immediately after signing. If the vehicle for rent is used, the dealer must also ensure that the tenant receives a copy of the current security certificate. Regulation 76 of the CPA provides for a kind of liability of the underwriter in the context of a “mandatory lease.” The maximum liability of the tenant at the end of the tenancy period of a remaining lease after the return of the rental property to the lessor is the amount determined according to the formula: according to the CPA, disclosure must take place before the signing of the contract or before the acceptance of the payment. The CPA (Regulation 73) requires that vehicle rental advertising be disclosed: for each vehicle leased, there must be a separate contract and it is the responsibility of the dealer (with the exception of a fleet rental company) to ensure that the following information is provided in a clear, understandable and material manner: if the amount set in accordance with point 2 (b) is the largest of the three amounts , the achievable value of the goods rented at the end of the tenancy period is the amount of rent. , by the amount from the amount set at 2 b), the share of the difference between the amount set at point 2 (b) and the amount set at point 2 under a), resulting from the wear or excessive use of the renters or damage to the rented property for which the tenant is responsible under the lease. Note: You can only calculate these amounts if they are listed in the original lease. DealerTrack Canada is a direct two-way connection. Download customer information and pre-approvals and download approved offers directly in SureFire DMS.
No more cutting and insertion between DealerTrack and your existing DMS software. Become members to join a community of nearly 5,000 second-hand industry professionals and use our membership services. The UCDA (Used Car Dealers Association of Ontario) was founded in 1984 by seven Ontario traders as a non-profit organization. We are led by an executive director and an 18-member team, and our policies and guidelines are led by a 9-member board of directors.