Are you planning to buy a new or a used car? Then hold on. There are many different types of Hidden Fees When Buying a Used Car. You need to know it thoroughly before paying a huge amount to the car seller. We have described here all the hidden charges associated with the purchase of a used car.
Except for the cost, the extra fees associated with a second-hand car are tax, insurance, and many others. While you are budgeting for the purchase of a used car, you need to consider all types of fees.
Those persons, who don’t have enough income sources to afford a new car, can purchase a used car. Also, those needy individuals or families, who are poor, can buy a used car. But before buying a second-hand vehicle, you need to know all types of charges or fees charged by a dealer.
You can either buy the used car from an individual car owner or any professional second-hand car dealer. Let’s see those websites that allow you to buy a used car online with brief detail. And, in this article, you’ll also come to know about Fees When Buying a Car.
Top 10 Online Websites that Allows You to Buy a Used Car
You want to buy a used car with the best conditions and price with minimum cost and extra fee. You need to visit these online top and best websites that help you grab the best-used car of different brands. The Fees When Buying a Used Car may vary from website to website.
- Kbb.com (Kelley Blue Book)
These websites can help you find a dream car with more than a total of 10 million used cars listed. Using each outstanding and incredible feature, you can narrow down your searches to your desired car. There are many different tabs as well as categorized are made to get a beautiful and outstanding car.
You can easily filter out used cars on these websites according to brand, price, colours, and many more. Before you grab your eye-captivating car, check the different-different fee included while buying the car.
What are Direct Fees When Buying a Used Car?
Direct fees are those obvious fees that you need to pay at the time of purchasing a car. Without paying such charges, you cannot buy a vehicle.
Let’s see the top 6 various direct charges which you might need to pay.
- Cost Price or EMI Charges of the Used Car
It is one of the most important Fees When Buying a Car. If you purchase any cars from the above list of used car sellers, you need to ensure that you have enough amounts. If you don’t have enough money to buy then, you can go for financing. Grab your best EMI offers according to your net income and bank balance. It would be best if you also had a better credit score to get a car loan.
- Title Fee & Registration Cost
Either you purchase a new or an old car, you need to pay the registration fee. The registration fee is slightly different from the title fee. You need to transfer the title from the previous owner and register the vehicle in your name. And, if you don’t want to do this, you may contact the various dealers. Please note, the title and registration fees may differ according to the place you live.
- State Car Sales Tax
When you want to purchase a pre-owned vehicle then, the car sales tax you must pay. It varies state to state and from where you buy the used car, that doesn’t matter. Most states have a fixed slab of sales tax that they charge on the service or product you purchase.
- Documentation or Convenience Fee
While buying a used or brand new car, you need to pay documentation or a convenience fee without any doubt. So, prepare yourself to pay these charges in your budget. And, this fee is one among many Fees When Buying a Car. These fees differ from state to state, and you need to pay before you drive the newly brought used car.
- Car Destination Charge
After you buy any car, the dealer delivers it to your home. And, it was almost 30-35 years ago the self-service was stopped. Now, the car manufacturer or dealership delivers your car directly to your garage at home. And, among many Fees When Buying a Used Car, a car destination fee is included in your bill.
- Disability/Credit Life Insurance Fee
Suppose you haven’t paid a complete payment of your newly brought used car and unfortunately you die or get disabled due to the accident. A certain amount is paid as an Insurance fee when you buy a car so that if any amount is remained then, no need to pay. You may purchase this from your dealership or any other place.
Hidden Fees When Buying a Used Car
Other than direct fees, there are some indirect fees you need to pay at the time of purchasing a used car. These fees are often termed as hidden as well as extra or optional fees. So, let’s see those fees in detail so that no one can cheat you. There might be some other optional fees added while buying but, it won’t charge you a high amount. These charges are very minimal in monetary value. If you don’t consider these charges then, it is okay.
Regional & National Advertisement Fee
It may sound dubious but, it is a legitimate charge. As the car manufacturers charge the regional dealers and they charge you for national and regional advertisement fees. They can reveal it at the time of purchase or lease of the car before you start negotiations.
Extended Warrant Fee
These additional and hidden fees may or may not be charged. It depends on the requirements of facilities you want or not.
Additional Dealer Markup Fee (ADM)
In case your chosen car is one of the hot-selling cars then, you might not get leverage to remove it out. It is a pure profit fee for the dealer, so choose your vehicle wisely.
Dealer Prep Fee
When you get a car to deliver to home, it is covered with protective films and layers. And, auto-makers do pay for this fee so, don’t worry, you need not pay. And, if any dealer asks, then tell him this.
Pin Stripping Charges
Among many Hidden Fees When Buying a Used Car may be included if you want to give your car a sporty look. You can get it done from anywhere like any retailer shop. It is better to do it yourself rather than from a dealership. It may be used to cover any dent, scratch, and any other marks on the car.
Rustproofing or Undercoating Charges
Nowadays, all vehicles are made to withstand treated roads, harsh weather, and other problems. So, it cannot be treated as an actual amount to cover while budgeting. When you wanted to buy a very old car then, it should be on your list. And, beware of dealers because they might tack this Hidden charge when you are going to buy a new or a used car.
VIN Etching Fee
It is an essential security measure that is etched into the glass of the car. Etched VIN makes it harder to remove when the car got picked by any thief. It is unnecessary to purchase this item from the dealer; it depends on your requirement only.
Fabric Protection & Paint Sealant Fee
These Fees When Buying a Car is added and similar to Scotch Guard and Wax. And a dealer might want to tack this in to charge a premium amount. Like other hidden fees, you can do either get it done from a local shop or ask your dealer to do it.
Security System Charges
If you want to install Security System in your car, you can ask the dealer to do it. You need to increase your budget value to install a security system. You may also install this system from any other outside retailer shop. If you still have the amount left in your budget then, get it in your car.
You came to know different car websites that can help you get a used car. You also knew about different Fees when Buying a Used Car, must be aware of such hidden costs. Once you understand everything, just go for a wise car purchase deal to do your work like going home, office, and roaming around the places.