What is an acquisition fee?
An acquisition fee is a one-time charge assessed by a financial institution when you purchase a vehicle. This fee is generally rolled into your loan, so you’ll pay interest on it over the life of the loan. The acquisition fee can vary depending on the lender
If you’re financing your vehicle through a dealership, they may try adding an “acquisition fee” as part of the total loan amount. This is negotiable, so be sure to ask about it and have them remove it if possible.
In general, the acquisition fee is something you’ll want to avoid if possible. An unnecessary charge will cost you more money in the long run. If you can’t get the dealer to remove it, be sure to factor it into your overall loan amount so you can budget accordingly.
Lilith, a car enthusiast and writer who has been writing about cars for years in her spare time, loves nothing more than taking on new projects involving all things automotive.
Latest posts by Lilit Farmazian (see all)
- What is coolant? - September 22, 2022
- What is a MAF sensor? - September 22, 2022
- What is transmission fluid? - September 22, 2022
