X-ray your auto contract.

Elak analyzes your auto contract:see how every term compares to real market data, what’s worth questioning, and exactly what to ask — every number cited, in plain English.

X-ray a document See a sample X-ray →

RETAIL INSTALLMENT SALE CONTRACT

Summit Crest Auto Group · Schaumburg, IL

Buyer:SSN:

2021 Honda Civic EX · 38,452 miVIN:

APR

18.99%

Finance charge

$27,997

Amount financed

$34,369

Total of pmts

$62,367

84 monthly payments of $742.47

Cash price of vehicle$24,000.00

Documentary service fee$699.00

Optional GAP waiver$995.00

Optional vehicle service contract$2,400.00

Optionaltire & wheel protection$899.00

Net trade-in (negative equity)($3,500.00)

Here’s what we found in a sample contract —

The APR is 18.99% — above the 14.1% average for non-prime used-car buyers.

worth asking why

Experian, Q4 2025

Over the 84-month term, the interest comes to about $28,000.

About $4,300 in add-ons — GAP, a service contract, tire & wheel — is listed as optional, not required for financing.

The contract can be paid off early with no penalty.

A few things here are worth asking about.

§ 02 · what it reads

One engine, built to read your auto contract.

01Your interest rateCompared
02Every add-on you were soldBenchmarked
03The fees you were chargedChecked
04How long you’re paying, and what that addsCalculated
05Read in full. Flagged where it mattersFlagged

§ 03 · how it works

The part nobody reads.

The car you drive, the truck your business runs on — the paperwork behind them carries paragraphs no one could parse at a desk, with a pen waiting. Elak reads every one and gives it back in plain language.

Commercial Vehicle Retail Installment
& Security Agreement

continued — additional terms and disclosures

Debtor

Secured party

Vehicle · VIN

USDOT No.

…insurance meeting the requirements of this section throughout the term hereof, naming secured party as loss payee, and shall provide evidence of such coverage upon request. Failure to maintain required coverage shall constitute default under this agreement.

Vehicle Tracking & Starter-Interrupt Device

initial hereDebtor acknowledges and agrees that the vehicle is or may be equipped with an electronic tracking and starter-interrupt device. Debtor consents to the installation, maintenance and use of such device, and to the collection and transmission of vehicle location data, for the purposes of servicing this agreement and protecting secured party’s interest in the collateral. Debtor further agrees that, upon default and following any notice required by applicable law, secured party may remotely activate the starter-interrupt function and prevent the vehicle from starting until arrangements satisfactory to secured party have been made. Debtor shall not remove, disable, tamper with or obstruct the device, and any such act shall constitute default hereunder. Debtor acknowledges that the device may limit the operation of the vehicle in circumstances where the vehicle is essential to debtor’s business or livelihood…

Debtor signature

Date

page five of nine

This paragraph says your truck can carry a device that reports where it is — and lets the lender stop it from starting if a payment is missed. You’re agreeing not to remove it, even though the contract itself notes the truck may be essential to your livelihood. The lender must give whatever warning the law requires first. It’s a real clause, more common than you’d think — and worth understanding before you initial it.

§ 04 · pricing

Still on the drafting table.

We’re still measuring what an honest scan actually costs — the models we trust to read your document aren’t cheap — before we put a number on it. When it’s settled, the price lives here.

§ 05 · why elak

Elak means sieve.

A sieve keeps the one thing worth keeping and lets the rest fall away. Elak does that with an auto contract — it reads every line, sets the boilerplate aside, and holds up the few things that decide what you’ll pay. Then it shows you how they compare to the going rate — and leaves the decision to you.