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What is a lease acquisition fee?
I need a new car and I’ve decided leasing is the best option for me. My mom said to beware of the lease acquisition fee, but she didn’t explain what it is. What is a lease acquisition fee?
Cassandra Hamilton · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
It’s great that you’ve decided to
lease a car
! It’s a fun way to try out new cars without the commitment of a car loan, and you can save money
on your monthly payment. You’ll have to consider a lot of fees, though—including the lease acquisition fee, though, which is a fee to cover the administrative costs of leasing a vehicle.Your mom is right to worry about the lease acquisition fee, because it can be hundreds of dollars. In some cases it’s as much as $1,000. Beware that it may be called something else in your paperwork. Other names for lease acquisition fees are:
- Assignment fee
- Administrative fee
- Origination fee
You can negotiate your lease acquisition fee, but don’t forget that car insurance is negotiable too. If you want to save the time and hassle it takes to deal with insurance companies, why not give
Jerry
a try? It’s easy and free to use—and the top-rated car insurance app in the App Store.View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
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