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Dealer fees: What to know and how to avoid them Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our goal is to help you make better financial choices by providing you with interactive tools and financial calculators as well as publishing authentic and objective content. We also allow you to conduct your own research and analyze information for free – so that you can make financial decisions without trepidation. Bankrate has agreements with issuers, including but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make Money The deals that are displayed on this website are provided by companies that compensate us. This compensation can affect the way and where products appear on this site, including, for example, the order in which they appear in the listing categories in the event that they are not permitted by law for our mortgage or home equity products, as well as other products for home loans. This compensation, however, does not influence the information we publish, or the reviews you see on this site. We do not cover the vast array of companies or financial deals that could be open to you. SHARE: Photographee.eu/Getty Images

3 min read Published July 14, 2022

Writer: Rebecca Betterton Written by Auto Loans Reporter Rebecca Betterton is the auto loans reporter for Bankrate. She specializes in helping readers in navigating the details of borrowing money to purchase a car. Edited by Rhys Subitch Edited by Auto loans editor Rhys has been editing and writing for Bankrate since the end of 2021. They are committed to helping readers gain the confidence to control their finances by providing concise, well-researched and informative information that breaks down otherwise complicated subjects into digestible pieces. The Bankrate promise

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At Bankrate we are committed to helping you make better financial decisions. We are committed to maintaining strict editorial integrity ,

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If you have questions about money. Bankrate has the answers. Our experts have been helping you master your finances for over four decades. We continually strive to provide our readers with the professional advice and tools needed to make it through life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and reliable. Our award-winning editors and reporters create honest and accurate content that will help you make the best financial decisions. Our content produced by our editorial team is objective, factual, and not influenced from our advertising. We’re transparent about how we are able to bring quality content, competitive rates and helpful tools to you by explaining how we earn money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated for placement of sponsored products andservices or by you clicking on certain links posted on our website. Therefore, this compensation may affect the way, location and when products appear within listing categories, except where prohibited by law for our mortgage home equity, mortgage and other home lending products. Other factors, such as our own rules for our website and whether or not a product is available within your region or within your own personal credit score could also affect the manner in which products appear on this website. While we strive to provide an array of offers, Bankrate does not include details about each credit or financial item or product. When you’ve negotiated the price of your new car, you could be shocked to find a final sales amount that is hundreds, perhaps even thousands more than the price you initially agreed to. A majority of these additional costs, also known as the dealer’s fees are mandated by law such as tax, title and licensing fees. However, there are some fees that are entirely dependent on the particular dealer to negotiate . Dealer fees you can avoid and negotiate Not every cost that a dealer offers you is non-negotiable or mandatory. Be ready to turn down unnecessary options and haggle the costs of the items you’re looking for. Vehicle or dealer preparation fee Dealer or vehicle preparation fees are charges the dealer charges to make the vehicle ready for delivery. This includes washing the car, removing all “bump protectors” off the doors, or taking off the protective covers for the floor or seats. It could cost hundreds of dollars more, so it’s worth paying attention to. What to do: U nless the dealer did something more above the normal preparation process, you should not be forced to pay these fees. Accessories and extended warranties installed by dealers. These extras are payable at the time of sale but only if you requested them and determined that you’re being given a fair cost for the item or service. This could be a stolen vehicle recovery system- like LoJack paint sealant or an aftermarket system for sound or wheels . What to do: If a dealer tries to charge you for any of these items , and you didn’t request them, decline to pay the associated fee. If you did ask for these items, do some research to ensure that you are getting a fair price because you can obtain any of these items elsewhere after you own the car. VIN etching which is also known as the vehicle’s identification number, is the grouping of 17 characters that identify the car. The procedure of VIN engraving is performed for security purposes. The number is etched onto the windows of the car. The cost can range from $150 to $300, so it’s wise to steer clear of this extra expense and manage it yourself. This is one of the easiest charges to stay clear of, therefore be sure to plan to prevent it from falling into the paper cracks . How to avoid Say no to this extra charge and cut costs by going directly to the body shop to purchase this service. You can even find DIY kits online for around $20 to $40 . Extended warranty: This is an additional fee that covers potential vehicle repairs once the manufacturer’s warranty on the car expires. But they aren’t necessary for all drivers. If you are worried about the price of possible vehicle repairs, it may be a good idea to reconsider the choice of vehicle. If it’s worth the cost, consider other options instead of blindly going with the dealership’s price. Avoid: be sure to compare the price of this fee with the likelihood that it will actually be used prior to approving on it . Insurance for gap gaps Guaranteed Asset Protection, or, is an additional cost that you could be charged if are leasing a vehicle. It will cover the difference between the price of the car and the loan payments in the event that the vehicle is destroyed or stolen . How to avoid: U even if you have a lengthy loan duration and you do not put cash down, this charge should be avoided. At minimum 20% of your down payment to ensure that it’s unlikely that you be charged financially liable for the loan. Unavoidable dealer charges There are also dealer fees which you aren’t at a disadvantage, but you can prepare for them . Tax, title and license fees The license and title fees will cover the procedure is required to obtain a vehicle title and the license plate. The cost associated with the tax rate will be contingent on your state’s sales tax rate and cannot be negotiated . Learn more: To understand the procedure in your state, visit your state’s Department of Motor Vehicles (DMV) website. Documentation fee This fee covers the cost of processing all the paperwork associated with the purchase of a car and is something you will have to pay. Some states charge an annual fee for this cost, which is usually less than $100. Other states have no particular rules, which means that dealers may charge whatever price they wish. The amount you’ll pay will depend on your state and the dealer you deal with. To understand what’s standard, research local laws. Cost of destination This charge is the amount is required by the dealer to pick up the vehicle from the factory. Kelley Blue Book notes that the cost can be upwards of $1700. According to Edmunds the process of taking your vehicle to the factory will not save you the cost of delivery as you’ll have to pay the full amount. It is a fact that this charge cannot be negotiated and will be an enormous portion of the total cost. The bottom line Although some additional dealership fees are unavoidable Knowing which fees are negotiated or eliminated completely is essential to saving money when it comes to your next car purchase. Before you even step foot into a showroom do some study and calculations before you go to understand .

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The article was written by Auto Loans Reporter Rebecca Betterton is the auto loans reporter for Bankrate. She is a specialist in helping readers with the ways and pitfalls of taking out loans to buy a car. Edited by Rhys Subitch Edited by Auto loans editor Rhys has been writing and editing for Bankrate since the end of 2021. They are committed to helping readers gain the confidence to manage their finances by providing clear, well-researched details that cut otherwise complicated topics into digestible pieces.

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