Compare a Second Dealer Financing Contract
Compare two dealer financing contracts line by line. Check the vehicle price, trade-in payoff, add-ons, down payment, APR and amount financed.
In this guide
A replacement contract can change the purchase figures as well as the loan terms.
Worked example
A $900 add-on and a $400 increase in down payment raise the amount financed by $500 if the purchase price, trade-in and all other amounts stay the same.
What to check
Place the buyer’s order and both contracts side by side. Match the VIN, vehicle price, fees, add-ons, down payment, trade-in allowance, payoff, APR and term. Record the dates and figures in the Loan Offer Change Tracker.
Next step
Ask which agreement the dealer considers operative and get a dated copy showing the final terms and the status of the earlier agreement. Use FinToku’s Auto Loan Quote Comparison to organize or compare the figures.
Official background: CFPB breakdown of auto loan payments. The example is illustrative and your written terms determine the applicable figures.
Explore this topic further
Check your assumptions with these tools and related guides.
Try a relevant calculator
- Car Payment & In-House Financing — Dealer or bank financing: payment, APR and total cost of the car.
- Financed Car Repair Second Payment Calculator — Compare an existing car payment with the combined payment after financing a repair separately.
- 2-1 Temporary Mortgage Buydown Calculator — Compare first-year, second-year and full note payments with the subsidy needed for a hypothetical 2-1 mortgage buydown.
- Tax Refund Advance Cost Calculator — Separate early advance cash, loan charges, preparation fees and later refund cash. Stress-test a smaller refund with a clear cash-flow ledger.
Read related guides
- Dealer Buy Rate vs Contract Rate: Negotiate the Loan
- Vehicle Service Contract Refund After Sale
- Bootcamp Loan vs Income Share Agreement: Price the Contract
Further reading
Put the information to work
Compare the amount financed, written APR, term and optional products before focusing on the monthly payment.
This guide is general education, not personalized financial advice. Rates, limits and rules change; confirm current figures with the lender, issuer or agency before you act. See our financial disclaimer and affiliate disclosure.
