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SOP, Saab is cheap.... Posted by Mike Lynch [Email] (#81) [Profile/Gallery] (more from Mike Lynch) on Sat, 30 Apr 2005 22:38:28 In Reply to: Bank Fee, Moses, Sat, 30 Apr 2005 21:00:16 Members do not see ads below this line. - Help Keep This Site Online - Signup |
The lease acquistion fee is standard operating procedure for lease companies. Saab Financial is cheap at $595, BMW went to $625 and I hear Mercedes and Lexus are at $795. The entire amount goes to the lease company, the dealer gets zilch. It is legitimate to mark up the acquisition fee a coulple of hundred, like marking up any rate or fee.
I would compare the acquisition fee to the documentary prep fee charged by California dealers, except that the Doc fee does indeed go to the dealer. We charge a doc fee on our leases too. It's set at a maximum of $45 in California, although I hear the same fee is $300-500 in Florida. It's kinda' a customary, institutionalized fee, that would seem to have some merit, but would also seem to be covered by the charge for the money, shipping and handling sorta'.
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