Can I add 'lender Fees' on inhouse deals?

rick ortin

I was curious on if our car lot is allowed to add 'lender Fees' toward our in-house deals. I notice sub-prime lenders add it toward there contracts therefore is permissible for car lots to add it toward there in-house contracts as Well? Also if someone can give me a general idea what lender fees are exactly used for. 

Thanks

Tori Zinger

Interesting question, Rick. How much are these fees, in general? What does the lender say it includes? Would this be equivalent to a dealer's "doc fee"?

Jamil The Carman

@Rick when it's in house you can add whatever you want :) poor customers !

mark rask

I dont believe that you can

Matteo Batelli

You can add anything you want if it is in-house financing. 

rick ortin

Ok im getting 2 different responses here...some say you can add whatever you want if its inhouse and some say no you cant. For those saying i can add anything inhouse not so sure if thats true since the state still looks at this stuff. what if i added a $500 doc fee instead of $150 would that be ok? Also i know every state has its requirements as well so i cant speak for all states but im texas and i think they or the occc look at stuff.

Also...I was at a dealer training seminar and according to state officials theres certain fees i can add and 'lender fees' was not one of them. Would be nice if someone that is familiar with texas rules and laws can confirm this for me. 

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