General educational information only. Vehicle programs, laws, lender terms and dealership practices vary. Confirm the details of your actual transaction.
Start with the vehicle and selling price
Confirm the exact year, model, trim, equipment and VIN when available. A quote on a different configuration is not a useful comparison.
Compare the agreed vehicle price before trade equity, financing and optional products are blended into the conversation.
- Exact vehicle and equipment
- Selling price before trade
- Manufacturer incentives actually applied
- Dealer-installed accessories
Separate the trade from the purchase
A strong trade number can make an ordinary vehicle price look better, and the reverse can happen too. Evaluate the trade on its own using more than one current reference where practical.
- Trade allowance
- Estimated payoff
- Positive or negative equity
- Tax treatment that may apply
Read the complete financing or lease structure
For financing, review amount financed, APR, term and total of payments. For a lease, compare term, mileage, cash due, adjusted capitalized cost, residual and money factor or rent charge where disclosed.
A lower payment can come from a longer term, more cash down or a different mileage allowance. It is not automatically a better transaction.
Review fees and products before signing
Ask which items are government charges, dealer fees, required equipment or optional products. Understand what each product does and whether you want it before it enters the contract.
- Registration and government charges
- Documentation or processing fees
- Optional warranties and protection products
- Accessories, alarms or appearance products