Finance manager's office review: stop rate markups and add-on charges
The last twenty minutes of a car deal happen in the finance office, and that is where good deals go bad. Before you sign, we review the paperwork for interest rate markups, padded add-ons, GAP insurance and extended warranty upsells, and fees you never agreed to.
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New, CPO, and lease, nationwide
What gets checked before you sign
Every line of the purchase agreement and the retail installment contract, against what was agreed to.
Included with every deal. See pricing.
Interest rate markup
The lender approves you at a buy rate. The dealer can add to it and keep part of the difference. We ask for the buy rate and compare it with your own pre-approval.
Add-ons slipped in at signing
Paint and fabric protection, theft packages, and other extras that show up in the contract after the price was agreed. Most are optional and heavily marked up. Anything you did not agree to comes off before you sign.
GAP insurance and extended warranties
Sometimes worth having, rarely worth the first price quoted. Your insurer or credit union may offer GAP for less.
Fees you never agreed to
Documentation, prep, and “reconditioning” fees, checked against the out-the-door price you were quoted in writing.
Payment packing
A monthly payment quietly loaded with products you did not ask for: VIN etching, security and vehicle locator (GPS tracking) devices the dealership installs for its own inventory, paint protection film (PPF), window tint, tire and wheel warranties, and extended warranties. Each one adds cost that belongs to the dealer, not to you. We check the contract total, not just the payment, and take out what you did not agree to.
Lease terms
On a lease, the money factor, residual, and mileage in the contract are matched to the quote.
The finance office, explained
How do I keep the dealer from marking up my rate?
Arrive with your own pre-approval and ask for the lender's buy rate. Dealer-arranged financing commonly lets the dealer add to the buy rate and keep part of the difference, and a pre-approval gives you a number to hold them to.
Is dealer GAP insurance better than getting it through my insurer?
Usually not. GAP from an auto insurer or credit union is often much cheaper than the dealer's version. Compare before you sign, and remember it is optional.
Is an extended warranty worth it?
It depends on the car's reliability, how long you will keep it, and the price. Warranty prices in the finance office are negotiable, and you can usually buy one later.
What happens in the finance and insurance office?
The contract is printed, financing is finalized, and optional products are offered. It is the dealer's last chance to add profit, which is why a second set of eyes matters.
Are dealer add-ons illegal if I did not agree to them?
Charging for something you did not agree to is a deceptive practice under federal and state consumer law. Many add-ons are simply optional and can be refused. The details, including the status of the FTC's rule, are in dealer add-ons to avoid.
Tell us the car.
We will take it from there.
If a dealer has already put a number in front of you, Send the Car Link or the quote, and you will hear what is real about it. Nothing picked out yet? We will find it.