chalkeater

Acquisition Fee -- A fee charged by some auto leasing companies for originating the loan, just as mortgage lenders charge points as an origination fee. This fee is often not specified in a contract, but rolled into the capitalized cost when calculating monthly payments.

How many of you successfully negiotiated having the "acquistion fee" removed from your contract?

I was able to get the car for what I wanted to pay (4 % over invoice - to make a long story short, I was able to knock an additional $500.00 off the price of the vehicle today), the money factor at .0022, and the residual was acceptable as was my trade in on my vehicle. We reached a gentlemen's agreement.

However, as we proceeded, the first thing that hit me was ACQUISTION FEE $595.00. Add that up over 36 months, and I am now paying a higher monthly note, plus I am paying more than $595.00 for the ACQUISTION FEE because of the interest on the loan. Basically the $500.00 that I negiotiated off today was being eaten alive by this ACQUISTION FEE. They were robbing Peter to pay Paul. I *KNOW* this fee can be waived, I am just curious as to how many of you successfully had it removed.

We left the dealership, but we are expecting a call back on Monday. They are going to talk to the owners of the dealership to see what we can do. I told them, I am ready to do business. I am able to do business. I want to do business with you. But I am FIRM on NOT paying the ACQUISTION FEE.
I said, we've have come a long way to get where we are now, and I am sure you don't want to lose a sale over this fee and left it at that.

Comments please!!!

Chalk

TLGator

Chalkeater - see the other thread for some comments.