the finance contract is same as most i have seen.. new vehicle information listed trade in vehicle listed then federal truth in lending disclosures showing percent rate. finance charge, amount financed total of payments and total sale price..
then payment schedule and amount and start date
then it has the itemization of amount financed portion.
listed as such..
1 cash price 25,168.12
2 total down payment (and it states if negative enter "0" and see line 4H below) then it breaks it down.... gross trade in $, 4,000 (minus) pay off by seller $11363.59 (=) net trade- in $,-7,363.59 (+) cash $ 500.00 but then under 2 on right side it shows 0
3 unpaid balance of cash price (1 minus 2) 25,168.12
4 a- cost of optional credit insurance paid life - N/A Disability -N/A
b-other insurance paid N/a
c - official feespaidtogovernment agencies N/a
d- government taxes paid N/A
e- government license and registration fees. 140.00
f- government certificate of title fees N/A
G- other charges (seller must identify who is paid and describe purpose)
mike bernard chevy warranty 1,689.00
Mike barnard chevy DOC fee 75.00
Government waste tire mgmt 12.50
H-net trade-in payoff to - santander (lien holder) 6,863.59
total other charges and amounts paid to other on your behalf 8,780.09
5- amount financed (3+4) 33,948.21
based on this lay out of charges and credits and the contract statement your promise to us listed in first part of question what would you suggest..my liability is..
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