Is the Car Loan Mortgage Service Fee Legal?
1 Answers
Charging a financial service fee for mortgage car purchases is illegal. Here is relevant information: 1. Relevant regulations: Regarding the mandatory collection of financial service fees in the automotive sales sector, provincial market regulatory systems are conducting special law enforcement campaigns. Investigations into financial service fees in the automotive sales sector are still ongoing by relevant authorities, and results will be released to the public upon completion. 2. Notes: Used car purchases require providing proof of purchase intent, vehicle evaluation reports, property certificates, and annual inspection certificates, among other materials. These also serve as reasons for car dealers to charge service fees for car loans. Additionally, credit card car loans and bank car loans also involve service fees.