Bank fee on lease
Administrator
Joined: Nov 2001
Posts: 12,263
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From: THE Orange County, California
2024 C8 Z06- 2025 BMW CS- 2022 Porsche 992 GTS
Bank fees are standard profit from the lenders not the dealers. Certain lenders charge more than others but they are usually non negotiable since the dealer would then have to eat the cost. Some banks like to throw in free GAP with the bank fees like Lexus Financial Services but I know that the bank fees can't be waived unless that particular lender is offering a waiver. This means you either negotiate it out of your driveoff and have the dealer eat or just include it. I have a Chase lease right now and there was no bank fee so it really depends on the lender.
Member
Joined: Nov 2001
Posts: 248
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From: Newport Coast, CA
'00 C280W, Obsidian Black/Charcoal
Yes, it's correct and has nothing to do with the dealer. It's a charge for processing and maintaining the lease contract by the respective lessor, in this case MBCC. ...RAB
Originally posted by tomjaymac
The lender is Mercedes Benz Credit
The lender is Mercedes Benz Credit
Member
Joined: Nov 2001
Posts: 248
Likes: 0
From: Newport Coast, CA
'00 C280W, Obsidian Black/Charcoal
Vic,
You might want to read the fine print in your Chase Lease because they have the same lease bank charge that MBCC does. ...RAB
You might want to read the fine print in your Chase Lease because they have the same lease bank charge that MBCC does. ...RAB
Originally posted by Vic55
I have a Chase lease right now and there was no bank fee so it really depends on the lender.
I have a Chase lease right now and there was no bank fee so it really depends on the lender.
Administrator
Joined: Nov 2001
Posts: 12,263
Likes: 901
From: THE Orange County, California
2024 C8 Z06- 2025 BMW CS- 2022 Porsche 992 GTS
Originally posted by Robert ...RAB
Vic,
You might want to read the fine print in your Chase Lease because they have the same lease bank charge that MBCC does. ...RAB
Vic,
You might want to read the fine print in your Chase Lease because they have the same lease bank charge that MBCC does. ...RAB
Oh and since we are talking about lenders then I am sure you have heard of First Star Bank- they are upcoming and are really aggressive out here in California. I looked into my service charge factor for a used 2001 E55 and its .00225- pretty good for a one year old car. I am actually thinking about doing a buy sell with one of the local dealers and going with them. My net cap will go up about 600.00 and my payment will drop about 150.00 per month. I heard they are super aggessive with model year 99 vehicles like S500's and 911's too.
