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Do car dealers charge fees for dealer-arranged financing?
"Do dealers charge extra fees for financing through them? I want to get financing for my new car, but it's my first time buying. I know that dealers can arrange financing through banks and credit unions."
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“In almost all situations, the dealer will charge a fee that pays them for putting together all the paperwork. This isn’t always a huge fee, but rest assured, you’ll be paying something.
With that said, you can also negotiate when buying a
new car
with them to get the fee removed. They might balk; they might not. As with any other type of loan, the more you shop around and the higher the
down payment
, the better the rate you’ll get and the less fees you’ll pay.”View full answer
- Gregory R.
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