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If You Know Their Rules ...
You Can Play Their Games

When you sign the buyer's order you are committing yourself to the deal as outlined on that order. However, the contract must be signed by the dealership management before it becomes valid.

Once the salesperson has written up the buyer's order, check all the information against that which you've developed before you began the negotiation. The key is to be sure that the amount you have agreed to pay is indicated and that, if you are trading, the amount of the dollar difference between the trade and the new car is exactly what you expect it to be.

Be sure that a manager has signed the buyer's order indicating that the dealership has agreed to your deal before you give them a deposit.

Your buyer's order should contain the following information:


BUYER'S ORDER CHECK SHEET

1. The date of the transaction
2. Make and model of the car your are buying
3. The VIN number of the car You are buying
4. The total amount that you have agreed to pay for the car
5. The amount of money they are giving you for your trade
6. The amount of the payoff on your current car
7. The VIN number of your trade-in
8. The difference in dollars between what you have agreed to accept for your trade (less any payoff due) and the amount you have agreed to pay for the car
9. The amount to be financed if you are financing through the dealership
10. The number of payments if you are financing through the dealership
11. Annual percentage rate (APR) if you are financing
l2. A list of all the fees be ,yond the price you've agreed to pay: e.g., title, taxes, etc.
13. A clear statement of the warranty that will come with the car

 

F&l and the 8ack Fad of t1te Peat

Virtually every dealership has a finance and insurance (F&I) person who you'll meet once you've agreed on a price for the car. His job is to sell you the back end of the deal. He may appear to be your friend, but he's not. The F&I guy has but one objective: to squeeze more money out of the deal. If you intend to pay cash, he'll try to convince you to finance and save your cash. Is this because he's interested in your financial welfare? Hardly. When you finance, the dealership gets a commission from the financing institution or, if they are participating in the finance package, they get part of the interest.

 

 

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