Tips on Buying Cars: Worksheet, desk manager, sales transaction

Question
What exactly is a dealership worksheet? And, is it a binding agreement when the figures are disussed?

Answer
Great question Linda! The worksheet is a document used by sales people and managers to control the sales transaction. It is often referred to as the four square too. Normally, it will request the usual personal information about you and your trade-in.

The sheet will also be divided in four sections; one box is used for your trade-in information, a second box is used for the selling price of the vehicle you're interested in owning, the third box is used for the money the manager will ask you to put down on your purchase. Usually, the desk manager will ask for up to 30% down (claiming it's required by the lending institution to get a good interest rate, not so. ). The fourth box is also used by the desk manager to hit you with a high payment, usually figured on 48 months or less). This is referred to as the first pencil. Do not accept the first pencil. It is set-up with the expectations of the customer counter offering. That said, there is room to negotiate, especially if you're okay with stretching out the term to 60 or 72 months.

The worksheet is again used for the transaction and to slow down you the customer. It's not a binding contract. Always read before you sign.

I hope this helps out!

Douglas