Hidden Fee in Leasing

All car leases contain a fee that is much like the origination fee in a home mortgage. The fee goes by the name "acquisition fee" or "bank fee." It's perfectly legitimate but is rarely disclosed in lease contracts. It's usually simply added into the price of the car.

The fee can be in the range of $495 to $995, or more, depending on the lease company and the vehicle. It is set by the lease company and is usually not negotiable. The amount of the fee has been generally rising over the last few years.

The purpose of the fee, according to lease companies, is to cover the administrative cost of setting up and managing a lease.