OMVIC Practice Test

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Prepare for the OMVIC Certification Test with practice questions that include hints and detailed explanations. Enhance your learning with flashcards and multiple choice questions. Get ready to pass your OMVIC Test with confidence!

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Practice this question and more.

If a consumer defaults on a loan but has paid off more than two-thirds of the total purchase price, what must the dealer do to repossess the vehicle?

Get permission from the court
Send a written notice to the consumer
Immediately repossess the vehicle
Charge an additional fee

The correct answer is: Get permission from the court

To repossess the vehicle, the dealer must first obtain permission from the court. This is because having paid off more than two-thirds of the total purchase price indicates that the consumer has made a significant investment in the vehicle and therefore has certain legal rights. Simply sending a written notice to the consumer or immediately repossessing the vehicle without involving the court would violate those rights. Additionally, charging an additional fee would also be incorrect as it does not address the legal requirement of obtaining court permission.