Hidden auto refinance fees when refinancing a car

If you're currently financing your car but feel like it's time for something new, you might be wondering if you can trade-in your existing car you have on finance. Well, yes you can but there are some hidden auto refinance fees you should be aware of.

Hidden auto refinance fees

Hidden auto refinance fees to be aware of include:

Administrative fees
Most auto refinancing companies will charge you administrative fees. You should definitely be aware of such hidden costs as they can often be expensive.

Insurance premium
Insurance premiums vary depending on your location, your past driving history and the car you are insuring. Make sure that you research potential new insurance costs online before you opt for refinancing.

Custom Number plates
Should you own a custom number plate on your car, you may need to pay the DVLA a fee to move this to a new vehicle if you are changing car.

Appraisals
Unlike refinancing a house, you do not have to pay for an appraisal of your vehicle. Therefore, if your refinancer charges you for appraisal, then have some options as a backup.

How Broker4Cars can help advise on hidden auto refinance fees

If you're considering refinancing your car, then Broker4Cars can help understand the hidden auto refinance fees that you may come across. If you have any questions, simply contact us on 01773 512806 or fill in the below form to see how we can help you.