For those who have leased their cars in the past, the bank acquisition fee is nothing new. Most would recognize it as a fee that is always included in the upfront "drive-off" payment or added to the cap-cost of the lease. However, this charge is really never fully explained?
Since leasing has rapidly become the preferred method to purchase a new car (especially for luxury brands like Mercedes, BMW and Lexus), it is important that you understand exactly why you are paying a bank acquisition fee. And, is it negotiable?
The first thing to remember about the Blue Book value of a car is that it is only a guide. Any car salesman will tell you that a vehicle’s true value is the amount someone is willing to pay and not necessarily what is printing in a book.
The Kelly Blue Book is designed to give car dealers and car owners an estimated value. However, what most people don’t realize is that car dealers have a unique way of looking at the Blue Book value and appraising a trade in.