charges

New-car destination charges are absurd: Here’s why

You’d think the price you see is the price you pay on a new car’s window sticker, but that is not the case. Taxes aside, there’s another charge you have to keep in mind: the destination charge. There’s no use haggling or looking for a discount on this fee. You, as the car buyer, have to pay it — and it’s typically an extra $1,000. Why? We’ll dive into that.

Consumer Reports examined the rise of destination fees and found they’ve climbed from an average of $839 in 2011 to $1,244 in 2020, a massive 48% increase in less than a decade. Over the same period, the price of an average new car has risen “just” 27%. I join CR in calling for destination fees to be made part of MSRP and not a footnote to it.

Ford F-150 destination fee

The destination fee is chunky, but it doesn’t even get put in bold.

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Auto Loan Charges

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Car & Automotive

In addition, borrowers with excellent credit will most probably obtain lower interest rates, which can lead to paying less for a car general. Borrowers can improve their chances to negotiate the most effective offers by taking steps in the direction of achieving higher credit score scores before taking out a mortgage to purchase a car. Insurance—In the U.S., auto insurance is strictly obligatory to be regarded as a legal driver on public roads and is … Read More