A buyer’s order is a document used when an individual decides to purchase a car from a dealer.
This form outlines the conditions of buying, including the price and any applicable fees. It also details the terms associated with purchasing, such as financing options, down payment and expected delivery date. In some cases, a trade-in allowance is also included, which reduces the total cost of the car depending on its condition.
This document is separate from the bill of sale, which outlines the transaction of the purchase. However, it is still a legally binding agreement once it’s signed.
Your signature acknowledges that you are accepting ownership of the vehicle you purchased and understand all accompanying descriptions and obligations. Therefore, it’s essential to read carefully over the contract before signing it, as this indicates agreement between yourself and the dealer.
What Information is in a Buyer’s Order?
The buyer’s order should contain all that you need to know (and are agreeing to) when purchasing a vehicle. Here are some of the standard items that it includes:
- Selling price
- Year, make, model
- Odometer reading
- Loan terms
- Down payment
- Trade-in Information (if applicable)
- Documentation fees
- Service contract cost (if applicable)
- Other fees/add-ons
Can I Negotiate Items on the Buyer’s Order?
You can negotiate items on the buyer’s order, but only before signing. Once the document is signed, it is legally binding and is not easily altered.
You cannot change or alter the terms of the loan itself without completely reworking the loan agreement, such as the interest rate or length of time for the repayment term. However, you can take advantage of the opportunity to negotiate some fees, credits, and pricing as well as any incentives and discounts offered by dealerships.
- Selling price
- Doc fees
- Trade-in credit
- Sales tax
- Destination charges
- Tax, title, and license fees
When in doubt, talk to the finance manager at the dealership to explore your options. Ask questions and be sure to fully understand what you’re agreeing to before you sign.