Retail installment contract · New vehicle

Several forms in your packet repeat facts about the sale, such as the price and the mileage. These are the details where a form shows something different from your contract.

In your paperwork

For two of these three details, another document in your packet shows the same value as your contract.

From: Retail Installment Contract; and page 2 of the theft protection contract.

Cancelling an add-on can return part of its price. A pro-rata refund covers the part of the product's term you have not used yet.

In your paperwork

The service contract ($1,895, 60 months) says it gives a pro-rata refund after the first 60 days, minus $25 or 10% of the price, whichever is less. The GAP waiver ($1,200, 84 months) says it gives a pro-rata refund with no fee. Calculated day by day to September 18, 2026, the service contract refund comes to about $1,621 and the GAP waiver refund to about $1,087.

Who receives the refund: The service contract says the administrator may pay it to your lender, to you, or to both. The GAP waiver says the refund goes to your lender, unless the loan is already paid off. Your contract says the lender may apply product refunds to what you owe.

How the forms say to ask: The service contract says you can return it to the dealer or write to the administrator by mail, fax or email, and that the refund is paid within 30 days. The GAP waiver says to send a written request to the dealer, the lender or the administrator. It also says it ends if the loan is paid off or refinanced, and that a refund is then paid only if you ask for it.

The theft protection contract ($1,695) says it is non-cancellable and non-refundable.

From: service contract, cancellation terms; GAP waiver, cancellation terms; theft protection contract, cancellation terms; Retail Installment Contract, contract date. Computed September 18, 2026.

When optional products are added to the price, you borrow the money for them along with the car. You repay them, with interest, over the whole loan.

In your paperwork

• Connected-car service with theft protection$1,695
• Wheel locks$395
• Surface protection product$895
• Service contract covering tires, wheels, dents, keys and windshield chips; it does not cover mechanical breakdowns$1,895
• GAP waiver$1,200

Your contract says each one was optional and not required for financing. They are repaid at 6.34% over 84 months, along with the car.

From: Retail Installment Contract, Itemization of Amount Financed; due bill; theft protection contract; service contract, coverage.

In arbitration, a private arbitrator decides a dispute instead of a judge or jury. The decision is binding, which means both sides are held to it.

In your paperwork

Your contract says either side can choose arbitration. For example, if you and the lender disagreed about a charge, either of you could send it to arbitration instead of court.

Your contract also says when a claim cannot be brought as a class action. Your service contract and theft protection contract say that arbitration does not apply to them.

From: Retail Installment Contract, arbitration provision; service contract and theft protection contract, state amendments.

The amount financed is the total you borrowed: the car's price plus any tax, fees and add-ons, minus your down payment and any trade-in.

In your paperwork

The car's cash price is $48,995. Your amount financed is $59,862.36, which is 122% of the cash price. Your contract adds $6,080 in optional products, plus any tax and fees, and subtracts your $500 down payment.

From: Retail Installment Contract, Itemization of Amount Financed; and the Truth-in-Lending disclosures.

Each add-on has its own end date. Your loan payments continue after an add-on ends.

In your paperwork

The service contract lasts 60 months and says it expires January 21, 2031. The theft protection contract lasts 72 months and says it expires January 22, 2032. Your loan runs 84 monthly payments. That is about 2 years longer than the service contract and about 1 year longer than the theft protection contract. The forms count from different start dates. These figures are approximate.

From: service contract and theft protection contract, coverage terms; Retail Installment Contract, payment schedule.

In the insurance agreement, you promise to keep the car insured while you owe money on it. It says that if your coverage lapses, the lender may buy insurance for the car and add the cost to what you owe.

In your paperwork

The agreement lists a policy with an expiration date of April 27, 2026, and $500 deductibles. This is the date printed on the agreement in your packet. Your theft protection contract says its $5,000 benefit applies only when the car has comprehensive insurance.

From: the insurance agreement, policy details; theft protection contract.

A cooling-off period would give you a set time after signing to change your mind and undo the purchase. Your contract says there is none unless a separate contract cancellation option was bought.

In your paperwork

Your contract does not include a contract cancellation option.

From: Retail Installment Contract.

The APR, or annual percentage rate, is the yearly cost of your loan, shown as a percentage. Your contract says the APR may be negotiable with the seller. It also says the seller may keep part of the finance charge when it passes your contract to a lender.

In your paperwork

Your APR is 6.34%. Over the loan, your finance charge is $14,614.56.

From: Retail Installment Contract.

This is a fee the dealer charges to prepare and process the sale paperwork.

In your paperwork

The fee is part of your amount financed. You repay it at 6.34% over 84 months, along with the rest of the loan.

From: Retail Installment Contract, Itemization of Amount Financed.

Your contract says you may pay off the loan early. A minimum finance charge is the least interest the lender collects if you do, even if less interest has built up by then.

In your paperwork

Your contract lists three amounts: $25 if the amount financed is $1,000 or less, $50 if it is up to $2,000, and $75 if it is more. Your amount financed is $59,862.36. The $75 amount is the one that applies to your loan.

From: Retail Installment Contract, prepayment terms.

Some add-on services start working only after you register them, for example in an app.

In your paperwork

The page lists an activation date of January 21, 2026. The 120 days ended on May 21, 2026. The page does not show whether registration was completed.

From: the activation page, registration terms and activation date.

A tracking device, such as GPS, can show where the car is. A starter-interrupt device can stop the car from starting.

In your paperwork

Your contract says that if the car has an electronic tracking device, the lender may use it to find the car if you default on the loan. It does not say that one is installed.

From: Retail Installment Contract, default and repossession terms.

A conditional-delivery clause lets the dealer cancel the sale if no lender approves your loan. Your contract says it applies only if a separate line for it is signed.

In your paperwork

On the contract you uploaded, that signature line is blank.

From: Retail Installment Contract, delivery terms.