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Car purchase receipt for teams

now to this point you've gone through the back office initial paperwork gone through the pitch and identified the products you want if any now let's get into the final paperwork so that you can officially buy the car if you have agreed to buy any back-end products like say an extended service contract and a credit life insurance package the business manager will proceed to print out the contracts for those products if you decline coverage they'll print something to sign saying you're declining coverage and potentially use it as another opportunity to upsell when you buy a back-end product you will always sign a separate agreement for each one and take a copy with you if you're receiving any rebates or incentives on a new car purchase you will sign a separate form for those as well so don't worry about a dealer claiming rebates and not directly applying them to your purchase to do so would be illegal and would require them to forge your signature now let's move on to the final documental sign because this is the most important when you sign and initial this document in multiple places you will have bought a car this document will be very distinctive because it's a very long form certainly a lot longer than any form you'll ever encounter in normal day-to-day life the document will either be a retail installment sale contract or a lease agreement like i said back in the course introduction i don't think the first time you should see one of these agreements is when you're excited about buying a car so i'm including three different real-life examples in the resources below so that you have time to familiarize yourself with the layout and contents one is from a used car that i financed for one of my companies another is a new car where i paid all cash and finally the third is a new truck that i leased all the signing that the business manager had you do up to this point certainly had some important documents but that process of signing signing signing was to condition you to just sign this one without asking too many questions this is where you need to be the most careful because anything said by the dealer is irrelevant the only thing that matters is what is printed and that you sign even the word sign has such a negative stigma attached to it that we were taught to not even use that word we would tell you to put your autograph on the forum or your to lessen any potential negative response to the word sign certainly study the contracts provided and we're going to walk through one in particular because it's where the dealer tried to put one over on me near the top is your information and a description of the vehicle so make sure the event is correct next on any retail contract you'll find a federal truth and lending disclosure by law all of these disclosures have the same information relating to your cost of credit in this example i'm paying cash but you can see how this looks with financing in one of the other examples below now this itemization box is the most important section and where you should triple check everything study this part on your contract and if something doesn't look right ask the dealer tried to get me on section a originally the sticker price of this car was 29 995 but it was a 2017 model your car purchased in 2018. there were already 2018 models of the same car on the lot so the dealer advertised it as significant discount to sticker not including the rebates what they did though to try and get one over on me was to put the sticker price in this box pay attention here if you're negotiating from invoice price then the invoice price should be what you see on this line if you see the sticker price or above and aren't buying a very rare car then they're probably trying to soak you for more money obviously that isn't always the case as dealers can make mistakes too just make sure you ask questions if you don't like the answer walk away this price is before rebates trades or down payments as those are accounted for later in the contract moving down you'll find additional fees that will increase your bottom line be careful on the document processing charge it's a fee that the dealer charges to process your paperwork some states have it capped like california here at 80 some states have different limits and many states have no limits there are no hard rules here a dealer does have an administrative staff that processes paperwork that staff has a salary and benefits so it's a valid charge just don't let yourself get soaked i'm definitely going to put up a fight if it's more than a couple hundred bucks though it is negotiable but getting them to remove it entirely is highly unlikely unless they're making up for it financially in some other area of the sale continuing down you'll find other taxes and fees these are normal and will definitely vary by state and sometimes even by city or county two important takeaways here firstly if you're trying to drive to north dakota just to save on t's and fees but live in south dakota save yourself a trip because it won't work dealers are required to apply those charges based on where you live not based on the tax structure that applies to residents of their state additionally don't worry about getting overcharged for any of these fees i almost always get a refund check for a few dollars about a month after buying a car because the dealer overestimated actual taxes or fees to make things easier i'm going to include a spreadsheet below that will lay out most of the fees that stays charged as well as dock fee lots it may not be perfect because laws change but you'll have a solid idea of what to expect based on where you reside now everything will come out to a subtotal in total outlays before you get to the part about things that will reduce your price in my case the manufacturer's rebates took an additional 33.50 off the total price if you have a trade with net equity or giving a down payment that will be reflected here in my case here i'm paying cash so this dealer showed it as though i was financing the balance but as you can see above my financing is only one payment so again go through everything here carefully this is the most important paper you'll sign of the entire transaction read every clause and ask questions study the other contracts as well if everything including all the numbers look logical and what you agreed to with the sales team then finish signing you just bought a car