What are the costs associated with getting a car loan?

The primary cost associated with getting a car loan is the interest, which is charged at either a fixed or variable rate.

You could also incur administrative charges, such as those for documentation, processing of a financial plan through a third party, and licensing.

In addition, there are usually sales taxes, as well as title and registration fees. Once-off fees for specific services should be explained in detail within your agreement or contract. Therefore, make sure to review all the terms before signing.

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