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car finance admin charges


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Car finance companies generally charge 2 different fees in relation to an HP agreement. The first one is a document fee (normally spread across the term) supposedly to reimburse the finco for the admin required to book the deal on to their system, digital imaging of fin docs, registering interest with experian etc. The other is an option to purchase fee normally payable with the last payment which actually buys the car from the finance company.

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