What does "material fact" refer to?

"Material fact" refers to information that could influence a customer's decision-making process regarding a purchase. In the context of purchasing a vehicle, this can include details about the vehicle's condition, history, or any circumstances related to its sale that might sway a buyer's choice. Recognizing what qualifies as a material fact is crucial for dealers and consumers alike, as it helps to ensure transparency and informed decision-making in the sales process.

For example, if a vehicle has had significant repairs or has been in an accident, these details are considered material facts because they could affect the perceived value and desirability of the vehicle. By contrast, information that is irrelevant to the decision-making process, such as unrelated documentation, does not constitute a material fact, as it holds no bearing on the customer’s choice to buy the vehicle.