A lien is a claim that a lender places on a vehicle for lending money to the vehicle’s owner. This is normal and perfectly legal. For example, when you take out a car loan from the bank to buy a car, the bank will place a lien on the car as security. If you don’t pay back the money you’ve borrowed, the bank can legally repossess the car.
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Car Buyer Protection Program: The Motor Vehicle Dealers Compensation Fund
In this blog post, we’ll explain the basics about car buyer protection program. This is only available for car purchases made from a registered dealer in Ontario.
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