Hidden Costs of Buying a New Car
Buying a car comes with additional fees. Some of these, like state or local taxes, won’t be negotiable, but many of the others might be.
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Buying a car comes with additional fees. Some of these, like state or local taxes, won’t be negotiable, but many of the others might be.
Here’s the truth many borrowers don’t realize: When a car is repossessed, nobody wins. See what you can do if you fall behind on your car payment.
A car lease is an agreement that gives the consumer the right to use the leased vehicle over a set period. Instead of outright ownership, car leasing works more like a long-term rental where the driver doesn’t own the vehicle but is still responsible its use. Leases are subject to term limits, usually two or three years.
Learn why buying an outgoing model-year car can help you save money, plus the trade-offs to consider before choosing last year’s model.
Avoid surprise lease-end fees: understand normal wear vs. excessive damage, fix dents, scratches, glass, and tires early, get a pre-inspection, clean the car, and report accidents promptly.
Powertrain warranties typically last longer but have less coverage than bumper-to-bumper warranties. Make sure you read your plan thoroughly to understand which items and situations are excluded from warranty coverage.
Finance charges often include taxes and dealer fees, but private sales usually don’t. Learn common dealer fees, when taxes aren’t rolled into loans, and how leasing handles taxes.
A doc fee is a fee charged by car dealerships for processing a vehicle’s paperwork. This fee covers processing for the employees who deal with titles, registrations, license plates, and the DMV or revenue department.
Learn how to add car insurance over the weekend when buying a vehicle. Discover grace periods, 24/7 hotlines, and pre-purchase coverage options to avoid delivery delays.
Finance an older used car with confidence. Set a realistic budget, research vehicle history, compare lender options, and prepare paperwork to secure the best terms — even for high-mileage cars.