Tied Selling

Coercive tied selling is to “impose undue pressure on, or coerce, a person to obtain a product or service from a particular person, including the bank and any affiliates, as a condition for obtaining another product or service from the bank.” This practise is prohibited under Section 459.1 of the Bank Act.

You cannot be unduly pressured to buy a product or service that you don’t want from a bank or one of its affiliates to obtain another bank product or service.

At General Bank of Canada we will never make it a condition of financing for you to be required to purchase or finance any additional products or warranties.

Fees

At General Bank of Canada we understand that the car buying experience can seem overwhelming at times with a lot of documents to sign. We are here to make that process as simple as possible for you. Our straight forward, plain language contracts make it easy for our customer’s to read and understand. We are committed to open and transparent dealings that allow you to feel confident in your decision to finance a vehicle with General Bank of Canada. The only fee associated with opening a loan through General Bank of Canada is the security registration fee (PPSA) which is disclosed on page one of the Sales Finance Agreement under “Cost of Property; Line 5 – PPSA registration fees”. We do not charge any other fees to set up a loan with General Bank of Canada (i.e. Finance Fee; Broker Fee; Administration Fee; Bank Fee).