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What’s an acquisition fee? Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our mission is to help you make better financial choices by offering financial calculators and interactive tools as well as publishing objective and original content. We also allow users to conduct research and compare information for free and help you make sound financial decisions. Bankrate has partnerships with issuers such as, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn Money The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products are displayed on this site, including such things as the order in which they appear within the listing categories in the event that they are not permitted by law for our mortgage, home equity, and other products for home loans. This compensation, however, does have no impact on the information we publish, or the reviews that you see on this site. We do not include the vast array of companies or financial offerings that could be accessible to you. SHARE: Nejron Photo/Shutterstock

2 minutes read. Published 26 February 2022

Writer: Zina Kumok. 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 Edited by student loans editor Chelsea has been working at Bankrate since early 2020. She’s committed to helping students to navigate the steep costs of college , and simplifying the complex world of student loans. The Bankrate guarantee

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Therefore, this compensation may affect the way, location and in what order products appear in listing categories and categories, unless it is prohibited by law for our mortgage home equity, mortgage and other products for home loans. Other factors, like our own proprietary website rules and whether the product is available within the area you reside in or is within your personal credit score could also affect the manner in which products are featured on this site. While we strive to provide the most diverse selection of products, Bankrate does not include specific information on every credit or financial item or product. An acquisition fee is a cost you pay when you purchase other kinds of vehicles . It could also be referred to as the assignment fee, administrative fee or origination fee. The fee is generally about a couple hundred dollars, so it’s critical to factor the cost within your financial budget while searching for a vehicle to lease. Is there an acquisition charge? Almost any time you take out an loan, you will have to pay some sort of charge to initiate the loan with the lender. This fee generally is used to fund the process of establishing the loan and conducting an credit check on a consumer. For leases on cars, this is known as an acquisition cost and is also sometimes labeled an administrative fee or bank fee. The acquisition cost can be billed upfront or rolled into the monthly lease payment. What’s the average acquisition fee? An acquisition fee for an auto lease typically can range from $395 to $895, but it can vary based on the vehicle in question as well as the lease company that you’re dealing with, according to Edmunds. The more expensive the car, the higher the acquisition fee. A luxury vehicle usually comes with more expensive acquisition fees than a mid-priced sedan. Contrary to interest rates, an acquisition fee doesn’t affect the borrower’s income, credit score or other personal aspects. How can I tell whether my loan has an acquisition fee? The easiest way to figure out if your lease comes with an acquisition fee is to ask the lender or the dealer directly. If you have the lease, you should read it carefully to determine whether there’s anything mentioning an acquisition cost. The lenders are adept at hiding fees within the fine print, so it may be difficult to find. The acquisition fees could also be bundled into your monthly lease payments. If they are paid in advance or as a part of your monthly lease installments, legally, lenders have to make clear additional charges or fees when you inquire. Are acquisition fees negotiable? Like when you purchase cars it is recommended to at least attempt to discuss. The acquisition fee as well as other lease features, like the value of trade-in as well as the interest rate and loan length can be negotiated. If it doesn’t work out, you can always look for a new lease that doesn’t require an acquisition cost. There are usually lease deals provided by both dealers and manufacturers which could offer better alternatives, so it’s always important to shop around. It’s also important to remember that in rare instances where you’re able to bargain a lower purchase price with the lender and they might increase your money factor in response. Pay careful attention to the conditions of your lease contract before you sign it. How to pay an acquisition fee If the leasing company charges an acquisition fee, the cost can be paid in advance or rolled to the cost total that is incurred by the loan. If you select the latter option, the acquisition fee is included in the total amount of the lease. This will increase the monthly lease payments , and will cost you more over the long run due to compound interest. Adding the acquisition fee to the loan will help, however it is a risk if you do end up destroying the car. If you pay the acquisition fee upfront and the car is damaged in an accident, you’ll not receive the entire acquisition cost back from your lender. If you’d rolled the acquisition fee into the loan and then refinanced the loan, you’d be able to recoup part of the cost. The bottom line: Acquisition fees are only able to be avoided if you notice them before you officially sign the contract. If you attempt to negotiate the cost with the leasing company but have no luck, consider making a fresh offer. Do not be compelled to agree to the lease agreement. Before finalizing a lease agreement, contact several companies to see what kind of . Doing some research is the best way to cut down or eliminate the cost of the acquisition. Learn moreabout:


Written by Contributing writer Zina Kumok. Kumok has been a full-time personal financial writer since the year. 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 the beginning of 2020. She’s dedicated to helping students to navigate the daunting costs of college and dissecting the complexity of student loans.

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