A retail Purchase Agreement says that YOU are buying a car. Retail Purchase Agreements can look different, but these are the main points. Here are 7 points to note about your Retail Purchase Agreement.
1. Warranty
Performance of any warranty you purchase from a manufacturer, or third party lies with that manufacturer or third party, not the dealership.
2. Sold As-Is
The car is being sold AS IS. Meaning if something goes wrong with it it's not the dealership's problem...even if the car shuts down the next day. However if the "Used Vehicle Limited Warranty Applies" box is checked, the dealership is promising that the car will run and drive at the time of purchase and for however long your service contract lasts.
3. Widow Sticker
The window sticker on the car is part of the contract so be sure to snap a picture of it and include it with the rest of your signed documents.
4. Do you have a Trade-In?
Make sure all the information under "Trade-In Vehicle Information is correct as a lot of this has to due with the value of your trade in. If you're not sure what the year of your car is, you can enter your vin number found on the bottom right of your windshield or on the doorframe to get specific information here.
5. Doc Fee
The documentation fee is a legit fee but is different in every state. I've tried to find a good website that has doc fees listed but have come up empty handed. For example the doc fee that all the big-name dealerships in Indiana charge is $199 but the blogs say $150-$178. If you feel your being charged the wrong amount I would call around to multiple dealerships (big name and small) or reach out to an auto fraud attorney to know what fees are bogus and which are legit.
6. Get it in text
No other agreements will be recognized but what is in the signed documents here. So if a salesman says "If the car breaks down I'll fix it for free" that is voided.
7. Agree to arbitrate
Any disputes will be held by an arbitrator (attorney or retired judge) not a class action, unless federal law shows it is not restricted to arbitration.
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