In our final Understanding Contract series, we’ll finish by reviewing two final sections.

Trade-In Description

This section should be filled out if you are trading in a vehicle. It will include your vehicle’s details (e.g. VIN, mileage), the amount the dealer is paying for your old vehicle, and information about any outstanding loan balances.

The Acceptance of Terms

This is the shortest section of a contract, but arguably, the most important. Both you and the dealer will sign here meaning you are legally agreeing to purchase the vehicle based on the contract’s terms.