Guessing it is fairly standard.
"Option One: Repurchase
· Lincoln Motor Company [LMC] will pay off your current lienholder after the vehicle is surrendered.
· You will be reimbursed for any down payments and payments minus finance charges, if applicable to your state’s lemon law, minus usage, negative equity, late fees, aftermarket contracts, items, or accessories (if they don’t fall within the refund).
· Any payments made on the vehicle that are not included in the Repurchase figures will be refunded once the buyback is complete.
· You will remain responsible for any loan payments until the buyback is complete.
· If you choose to accept the Repurchase Option, a private offer will be provided to you which will allow for a discount on a new Lincoln vehicle, if you choose to purchase another. At the present time, the discount certificate is $2,500. This discount certificate may not be compatible with any or all offers presented to you from the dealership.
Option Two: Replacement
· Lincoln Motor Company [LMC] will pay off your current lienholder after the vehicle is surrendered.
· You will pick out a new Lincoln vehicle.
(It does not have to be the same model, however it does need to be a new vehicle)
· You will remain responsible for the current loan balance, usage, and upgrade charges.
· If your vehicle is New, the upgrade cost would be the difference between the MSRP of your current vehicle and the new vehicle.
· If your vehicle is Pre-Owned, the upgrade cost would be the difference between the base price of your current vehicle and the memo invoice of the new vehicle.
Option Three: Substitution of Collateral
· This option is only available if your lender supports this type of transaction.
· You will pick out a comparably equipped vehicle the same make and model of your vehicle.
· You will keep your current loan and everything regarding your loan will remain the same. Same payments, same due date, same everything.
· You will be responsible for any usage, upgrade charges, and other out-of-pocket amounts. These amount will be paid at the time of surrender in certified funds.
· There is no payoff associated with a substitution."