How to read a dealer quote
Separate selling price, taxes, trade-in payoff and optional extras before comparing car offers.
Ask for a written out-the-door total
Request an itemized quote for the specific vehicle. The selling price is the starting point; the out-the-door total adds applicable taxes and purchase fees. Ask whether each line is required, negotiable or optional. Keep financing interest separate from the purchase price.
Keep the trade-in and payoff separate
Write down the dealer’s trade offer and get a dated payoff quote from your existing lender. If the payoff is higher, the shortfall needs to be paid in cash or financed. A statement that the dealer will pay off your old car does not explain who ultimately pays for that gap.
Compare financing after the price
Two quotes can have the same monthly payment and very different total costs. Compare amount financed, APR, number of payments and finance charges. Check whether an optional warranty or protection product was added to the loan. Use the comparison calculator with the written figures.
A useful checklist for the desk
Bring the vehicle identification number, negotiated selling price, itemized tax and fee amounts, trade offer, payoff quote and lender offer. Before signing, check that the final contract matches these numbers and ask about any line that changed.
Further reading: FTC guidance on financing or leasing a car and CFPB auto loan resources.