What’s an acquisition fee? Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our aim is to assist you make smarter financial decisions by providing you with interactive tools and financial calculators as well as publishing objective and original content. We also allow you to conduct research and compare information for free to help you make informed financial decisions. Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn money The products that appear on this site come from companies that compensate us. This compensation could affect how and where products appear on this site, including such things as the sequence in which they appear in the listing categories and other categories, unless prohibited by law. This applies to our loans, mortgage,, and other home loan products. But this compensation does affect the information we provide, or the reviews you see on this site. We do not contain the universe of companies or financial offerings that could be available to you. SHARE Nejron Photo/Shutterstock
2 min read Published February 26, 2022
Writer: Zina Kumok. Written by Contributing writer Zina Kumok has been a full-time writer for personal finance since 2015. She’s a three-time nominee for Best Personal Finance Contributor/Freelancer at the Plutus Awards and a two-time speaker at FinCon, the premier financial media conference. Edited by Chelsea Wing Chelsea Wing Editor: Student loans editor Chelsea has been working at Bankrate since the beginning of 2020. She is invested in helping students navigate the daunting cost of college as well as dissecting the complexity of student loans. The Bankrate promises
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This compensation could impact how, where and in what order products appear within listing categories and categories, unless it is prohibited by law. We also offer mortgage, home equity and other products for home loans. Other factors, such as our own proprietary website rules and whether a product is available in your region or within your own personal credit score could also affect how and where products appear on this site. While we strive to provide the most diverse selection of products, Bankrate does not include information about every credit or financial product or service. An acquisition fee is a cost you pay when or other kinds of vehicles . It may also be referred to as the administrative fee, the assignment fee or origination fees. The typical fee is a few hundred dollars, therefore it is important to include the cost within your financial budget while searching for a vehicle to lease. How do you calculate an acquisition fee? In almost all cases, when you apply for a loan you’ll have to pay an charge to initiate the loan with the lender. The fee typically covers the cost of initiating the loan and running an credit check on the consumer. For leases on cars, this is known as an acquisition fee . It may also be called an administrative fee or bank fee. The acquisition cost can be paid upfront or added into the monthly lease payment. How much is an acquisition fee? An acquisition fee for the lease of a car typically ranges from $395 to $895, but it can vary based on the vehicle in question as well as the lease company that you’re working with, according to Edmunds. In general, the more costly the vehicle, the more expensive the cost of acquisition. A luxury vehicle usually comes with more expensive acquisition fees than a sedan that is mid-range. In contrast to interest rates, the acquisition fee doesn’t affect the individual’s financial situation, credit score, or any other personal variables. How can I tell if my loan comes with an acquisition cost? The easiest way to figure out whether your lease is subject to an acquisition charge is to contact the lender or dealer directly. If you have the lease, you should read carefully to find out if there’s anything mentioning an acquisition cost. The lenders are adept in hiding fees in the small print, which is why it may be difficult to find. Acquisition fees can also be bundled into the monthly lease payment. Whether it’s paid upfront or as a part of your monthly lease installments, legally, lenders are supposed to inform you of the fees and charges when you inquire. Are acquisition fees negotiable? Like when you purchase cars and a home, you must at a minimum try to negotiate. The acquisition fee and other lease-related features like the value of trade-in or interest rate, as well as loan length can be negotiated. If this doesn’t work it’s possible to search for a new lease which doesn’t have an acquisition fee. There are often lease specials that are offered by dealers and manufacturers that could provide better choices and it’s important to research. It’s also important to remember that in the very rare occasions where you’re able to negotiate a lower acquisition fee with an lender however, they could increase the amount of money you pay in response. Pay careful attention to the terms of your lease agreement before signing on. How do you pay an acquisition fee If the leasing company charges the acquisition cost, this expense can either be paid upfront or rolled in the overall cost of the loan. If you choose the second option, the fee is added to the principal of the lease. This increases monthly lease payments , and will cost you more in the long haul because of compound interest. The addition of the acquisition fee to the loan can help, however in the event that you do end up destroying the vehicle. When you have paid the purchase fee in advance and your car ends up in an accident, you will not receive any of the acquisition fee back from the lender. But if you had rolled the acquisition fee into the loan and then refinanced the loan, you’d be able to recoup part of the money. The bottom line: Acquisition fees are only able to be avoided if you know about they are there prior to signing the contract. If you try to negotiate the fee with the leasing company but fail, you should consider making a fresh offer. Beware of being pressured into accepting the lease conditions. Before finalizing a lease agreement take a look at several companies and see what kind of . Shopping around is the best way to cut down or eliminate the acquisition fee. Find out more:
Written by Contributing writer Zina Kumok has been a full-time personal finance writer since the year 2015. She’s a three-time nominee for Best Personal Finance Contributor/Freelancer at the Plutus Awards and a two-time speaker at FinCon, the premier financial media conference. Edited by Chelsea Wing Editor: student loans editor Chelsea has been with Bankrate since early 2020. She’s committed to helping students manage the steep costs of college and breaking down the complexities in student loans.
Student loans editor
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