Are Retail Installment Agreements standard for cash car purchases or is this a scam?

We purchased a car this weekend, and paid by check in full. However, when we got home, we realized the contract was a Retail Installment Agreement (citing a specific loan amount). After spending an hour in the finance office fending off the finance guys repeated offer to sell us on stuff, we were too mentally exhausted to notice. Is this standard practice, or did we get scammed?

Are Retail Installment Agreements standard for cash car purchases or is this a scam?

If you paid in cash, then you should sign a buyers order, odometer statement, and waiver forms %26lt;depending on new or used a few various papers also%26gt;, however not typically a Retail Installment Agreement. Look under the %26quot;Truth in Lending%26quot; boxes on your contract. If there is an APR listed, then you did finance some portion of the loan. I hope this helps and you can email me with questions.

Are Retail Installment Agreements standard for cash car purchases or is this a scam?

Sounds like a %26quot;SCAM%26quot; check with your local Drivers Motor Vech. ask for background on seller and ask for clear title.