Key points
- Confirm the exact vehicle and selling price.
- Separate government charges from dealer fees and optional products.
- Verify trade-in value and payoff independently.
- Compare the final amount financed with the numbers you approved.
Start with the vehicle information
- Year, make, model, trim, and mileage.
- VIN and stock number.
- New, used, or certified status.
- Agreed selling price and any market adjustment.
Review every addition and subtraction
Read each line between the selling price and total balance. Discounts and rebates should reduce the total. Taxes, fees, accessories, protection products, and warranties increase it. Ask about any label you do not recognize.
Check trade-in and payoff math
Trade-in value is the amount credited for your current vehicle. Payoff is the amount still owed to its lender. If payoff is higher than trade-in value, the difference may be added to the new transaction as negative equity.
Match the financing disclosure
- APR.
- Finance charge.
- Amount financed.
- Total of payments.
- Number and amount of payments.
- Cash due at signing.
Do not sign until the written numbers match the offer you intend to accept.