There are a number of different fees associated with car finance, including:
- Application fee: This is charged by the lender to process your application for car finance.
- Establishment fee: This is charged by the lender to set up your car loan.
- Interest rate: The interest rate is the cost of borrowing money from a lender and is expressed as a percentage of the amount you borrow.
- Late payment fee: If you fall behind on your repayments, the lender will charge a late repayment fee.
- Early repayment fee: Some lenders may charge a fee if you repay your car loan early.
When using a mortgage broker to submit applications, you can rest assured that Simplify Finance does not charge you for our services.