Additional contract requirements for trade-ins
 43. (1) Subsection (2) applies if, (a)  a registered motor vehicle dealer enters into a contract to sell or lease a motor vehicle to a purchaser or lessee who is not another registered motor vehicle dealer; and (b)  the purchaser or lessee trades in another motor vehicle to the dealer under the sale or lease contract or to another registered motor vehicle dealer under a separate contract.  O. Reg. 333/08, s. 43 (1). (2) If the selling or leasing dealer described in clause (1) (a) receives the motor vehicle being traded in, the dealer shall ensure that the sale or lease contract includes, in a clear, comprehensible and prominent manner, the information set out in subsection (4) with respect to the vehicle being traded in.  O. Reg. 333/08, s. 43 (2). (3) If another registered motor vehicle dealer receives the motor vehicle being traded in under a separate contract, as described in clause (1) (b), the dealer shall ensure that the contract for the trade-in of the vehicle includes, in a clear, comprehensible and prominent manner, the information set out in subsection (4) with respect to the vehicle.  O. Reg. 333/08, s. 43 (3). (4) The information mentioned in subsection (2) or (3) is the following: 1.  The name and address of the owner of the motor vehicle. 2.  For the registered motor vehicle dealer involved in the trade-in described in clause (1) (b) who is not the selling or leasing dealer described in clause (1) (a), i.  a registered name and the registration number of the dealer, together with the legal name of the dealer if it is different from the registered name, and ii.  if a registered salesperson is acting on behalf of the dealer respecting the trade-in, the registered name and registration number of the salesperson. 3.  The date that the motor vehicle is to be traded in, if known, or a manner of determining the date, if the date is not known. 4.  The make, model, trim level and model year of the motor vehicle. 5.  The colour of the motor vehicle. 6.  The vehicle identification number of the motor vehicle. 7.  The body type of the motor vehicle. 8.  The credit for the motor vehicle being traded in, if the selling or leasing dealer described in clause (1) (a) receives the motor vehicle being traded in. 9.  The amount paid for the motor vehicle being traded in by the registered motor vehicle dealer, if another registered motor vehicle dealer receives the vehicle under a separate contract, as described in clause (1) (b). 10.  A statement obtained from the person trading in the motor vehicle with respect to the information required to be included under section 42. 11.  The motor vehicle’s recorded odometer reading. 12.  Revoked:  O. Reg. 221/09, s. 16. 13.  If the registered motor vehicle dealer receiving the motor vehicle being traded in agrees under the contract for the trade-in to pay any outstanding loan on the vehicle or any outstanding bill for the repair or storage of the vehicle, a statement to that effect.  O. Reg. 333/08, s. 43 (4); O. Reg. 221/09, s. 16. (5) If a sale or lease contract mentioned in subsection (2) or a contract for a trade-in mentioned in subsection (3) provides for the trade-in of more than one motor vehicle, the registered motor vehicle dealer described in the applicable subsection shall ensure that the matters required under subsection (4) are shown separately for each vehicle.  O. Reg. 333/08, s. 43 (5).