"Lein fee"

[cbrunny]

What is this?

Currently negotiating price with a dealer on a new car and the quote has a $60 lein fee in it. I don't know what this is. Help? In Ontario, Canada if that makes a difference.

Thanks!

 

[NutBucket]

Sounds like BS to me..but that's rather small for a bs fee.

 

[cbrunny]

I'm not so much worried about the $60 as I am the word "lein" - honestly I don't understand what a lein is but I know it has something to do with repossession/lack of payment. I'm paying for the car so I don't understand why its there in the first place.

 

[aShufflinZombie]

It just means that the car is/was loaned.

 

[MixMasterTang]

If you are financing a car, the finance company has a "lein" on the car, which means you cannot transfer the title without their authority (which they will only give the OK on if you pay off the loan).

 

[waffleironhead]

Firstly, a lien does not mean repossession or lack of payment. It means someone holds an interest in a piece of property. Usually a bank who has an interest in a car because they loaned money for its purchase.
Here in the states you pay a lien fee to register the loan you are taking out on the vehicle you are purchasing.

Does the dealer know you are paying cash?

 

[cbrunny]

Ahh that makes a lot more sense... Thanks for this, much appreciated!!