QandAs: Loans

Are there application fees for Auto Loans?

Answer:
In most cases whether you borrow money through the

dealer or from a regular bank, expect to pay about $50 to $150 in fees. These fees go toward things like taking your application, preparing documents, running your credit report, or mailing checks.

Many auto loan lenders charge a single “processing” or “origination” fee that covers everything. Since auto loan fees are relatively small, they are not nearly as important as the interest rate when shopping for a loan. Even so, don’t be afraid to question a fee that you do not understand or seems excessive.


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