Closing The Deal
At any point in the negotiations, be prepared to walk away. You have no obligation to sign a contract… especially if it is not on the same terms you thought you agreed on. After you have agreed on a deal with the sales department, you will be taken by the salesperson to the finance and insurance representative. If you are told that he or she will fill out the paperwork, watch out - in some dealerships the finance and insurance representative will try to change your agreement without you catching on.
Be very careful what you sign. Make sure that all promises made by the salesperson or dealership are in writing. If a contract has terms substantially different from what the salesperson initially promised, do not sign the contract unless you are willing to accept the new terms.
Take your time. Do not let anyone rush you to sign paperwork without reviewing the terms of the agreement. Read all documents and understand all terms before you commit to them.
Do not lie. Do not allow false information on any forms and beware a salesperson who suggests putting false information, such as a higher income or a larger down payment, on your finance application. While financing may be approved, the payments may be difficult for you to make. If something goes wrong, you will be held accountable for the false information.
Do not sign a blank contract or application. Do not sign anything that contains blank spaces - especially on any contracts or credit applications. Draw a line through all blanks on documents you sign.
Stick to the plan. Unless you have done comparison shopping with an insurance agent, try to resist buying life or disability insurance from a dealer. You cannot be required to buy other products, in order to finance or purchase a vehicle. Beware of a salesperson that tells you that you cannot be financed unless you purchase these products.
Get an expert opinion. If you are purchasing a used vehicle, have a trusted mechanic inspect the vehicle before you buy. This may cost around $100 or more, but could save you thousands in the long run.
Free DEQ Emissions Test. A used vehicle in good condition will still fail an emissions test if the exhaust sensors have been tampered with or disabled. If you visit a DEQ Clean Air Station during a test drive and ask for a “voluntary” test, you can receive a free emissions test before you close the deal.
Processing the paperwork. Dealers may charge up to $75.00 for processing your paperwork with DMV. Dealers may charge up to $100.00 for electronically processing your paperwork with DMV and providing you with a license plate at the time of sale. These are not government mandated fees, and are also negotiable prices. However, a dealer can refuse to sell you a vehicle if you do not want to pay either $75.00 or $100.00, the same as if you and the dealer do not agree on the price of any other term, such as the price of the vehicle.
You do not have to pay sales tax on any vehicle purchased in Oregon. If you are buying a car in another state, make sure the dealer fills out paperwork for Oregon residents so that you do not have to pay sales tax.
In Oregon, you can take a new or used car home before financing is approved. This practice is called "spot delivery" and is designed to lock you in to a purchase. If you are tempted to do this, take a moment to read up on the Yo Yo Scam before you drive off the lot in a car without approved financing. There is no 3-day right of rescission for a car purchase or lease, even if you do not yet have final approval of financing. However, if you cannot get financed at the exact same terms for which you signed an agreement, or if the financing is not completed within 14 days, you must bring the car back to the dealer and the dealer must give you back your trade-in vehicle and down payment.
Information For Businesses
Applicable State Law:
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