LotLitmus / U.S. buyer guide

Read a dealer worksheet before you sign.

Trace the price, every charge, each product, and the financing terms. When a number or choice changes, ask for an updated written copy so you can review the same deal the dealer plans to finalize.

Go to the printable response worksheet

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Add up your worksheet amounts

Enter the amounts shown on your worksheet. Vehicle price, taxes, fees, and add-ons are added together; trade-in credit and down payment are subtracted from that combined amount.

Blank amounts count as $0. Enter U.S. dollar amounts.

01

Reconcile the price and fees

Give every line a clear place in the total. Ask what a dealer charge covers, who receives it, and whether that amount already appears elsewhere.

  • Separate the vehicle price, dealer charges, government charges, optional products, trade-in or down-payment credits, and cash due at signing.
  • Ask the dealer to explain unfamiliar labels and show how the subtotal reaches the written out-the-door total.
  • If a price or charge changes, request a revised worksheet with the new line items and total.

The CFPB lists preparation, origination, document, and delivery charges as examples of dealer fees, and describes taxes, title, and registration as government-set charges.[1]

02

Make each add-on a separate choice

Review products one at a time instead of evaluating them only as part of a monthly payment.

  • For each product, ask for its provider, price, coverage, exclusions, term, and written cancellation or refund terms.
  • Mark each item accepted or declined. If you decline one, ask for a revised worksheet with it removed.
  • For anything you may keep, compare its written price and coverage with another source before deciding.

The CFPB says optional add-on prices are negotiable and financing an add-on increases the amount borrowed and repaid. Its GAP guidance recommends comparing price and coverage and explains that financing GAP increases total interest.[1][2]

03

Compare the financing on its full terms

A payment amount alone does not show the full loan. Compare offers using the same vehicle price, down payment, trade-in credit, and add-on choices.

  • Put the APR, amount financed, finance charge, total sale price, loan length, number of payments, and monthly payment side by side.
  • Compare APR with APR. The CFPB explains that APR includes the interest rate plus certain loan fees, so it differs from the interest rate alone.
  • Look at the payment alongside the loan length and total cost; a longer term can lower the monthly payment while increasing total interest.

The CFPB lists key figures to review before finalizing a loan, including APR, finance charges, amount financed, total sale price, number of payments, and monthly payment. It also explains how APR differs from an interest rate and why loan length affects total cost.[3][4][1]

Quick reference

Common worksheet and financing terms

These are plain-language guideposts, not a statement of legal effect. A term’s meaning, calculation, or available rights can vary by contract and state; check the final disclosures and written product terms for your deal.

Out-the-door price
The written vehicle deal total with applicable taxes and fees included. Ask whether the figure is before or after a down payment or trade-in credit, and check how each charge is itemized.[1]
APR (annual percentage rate)
A yearly measure of the cost of credit that includes the interest rate and certain loan fees. Compare APRs alongside the amount borrowed and loan length.[4]
Amount financed
The credit amount shown as financed in the loan disclosures. Check what was included, such as any product price rolled into the loan; it is not the same as the total scheduled payments.[3]
Finance charge
The disclosed dollar cost of borrowing under the loan terms. Review it alongside the amount financed and payment schedule; worksheet charges may be shown separately.[3]
Loan term
The scheduled repayment period, often shown as a number of months or payments. A longer term can lower the scheduled payment while increasing interest paid, depending on the loan terms.[3]
Total of payments
The sum of the scheduled loan payments if made as agreed. Compare it with the amount financed and check which cash due at signing or other costs are outside that total.[3]
Add-on product
A product or service offered with the vehicle deal, such as GAP coverage. Ask whether it is optional for your transaction and get its separate price and written terms; financing its cost can increase the amount borrowed and interest.[1][2]

Before signing, compare the final paperwork with the latest worksheet. Ask the dealer or lender to explain any mismatch and take time to review the written terms.

Standalone buyer worksheet

Dealer response worksheet

Use one sheet per charge or add-on. This note sheet is separate from the financing guide’s pre-signing checklist. A charge or explanation may be appropriate for your transaction; record the details and choose the next step that fits.

Date
Vehicle or stock number (optional)
Charge or add-on name (use the wording on the worksheet)
Amount shown
Dealer’s explanation
My follow-up question
Dealer’s answer
My next step

Examples of a next step: keep the item for comparison, ask for written terms, accept, decline, or revisit it later.

Sources

  1. [1]What things can I negotiate when shopping for a car or auto loan? — Consumer Financial Protection Bureau
  2. [2]What is Guaranteed Asset Protection (GAP) insurance? — Consumer Financial Protection Bureau
  3. [3]What should I know before I finalize a car or auto loan? — Consumer Financial Protection Bureau
  4. [4]What is the difference between a loan interest rate and the APR? — Consumer Financial Protection Bureau

Questions about the LotLitmus review itself? Read the deal review FAQ.