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Pre-paid finance charge

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  • April 24, 2015 at 9:57 am EDT #6821
    Kristin
    Member

    In an indirect auto lending transaction, is a doc prep fee charged by the auto dealer a pre-paid finance charge?

    April 27, 2015 at 12:35 pm EDT #6828
    rcooper
    Member

    Is this document prep fee charged only to those customers who finance the vehicle or is it charged to cash customers as well?

    April 30, 2015 at 11:18 am EDT #6830
    Kristin
    Member

    It is only charged to those that finance the vehicle.

    May 1, 2015 at 1:01 pm EDT #6846
    rcooper
    Member

    Then yes, I would consider it a prepaid finance charge.

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