Is GPS Fee Required for Purchasing a Used Car with a Loan?

[StDaniella]

Yes, whether it's a new or used car, as long as it's purchased with a loan, a GPS fee is required, along with a loan service fee. The so-called GPS fee is the cost incurred after installing a GPS in the car, which is generally applicable when purchasing through a loan company. Here is additional information: 1. Purchasing a car through a formal bank mortgage: Usually, there is no GPS fee. The reason loan companies install GPS in cars is that, under installment payment conditions, the car does not belong to the owner, hence the need for GPS to monitor the car's movements at all times. 2. GPS installation locations: GPS devices are usually installed in hidden places, such as inside the front and rear bumpers, under the decorative panel below the front windshield, and next to the tail lights in the trunk.