“The price you see is the price you pay” said every car dealer ever at some point. That isn’t really the whole truth because a price tag that might fit comfortably within your budget doesn’t factor in the taxes and dealer fees. Once those costs are added into the final price, you might be thousands over budget! See how much extra you might be paying in your state below.
And these aren’t the only fees you’ll face either. We’ve listed out the six most common dealer fees here since each dealer approaches fees a bit differently. For the purposes of the this study and the infographic above, we honed in on state and local taxes, registration fees and dealer documentation fees. The costs were calculated based on a used car listed for sale at $16,500. That’s about the average price for a 2011 Honda Accord, one of the most followed cars on MojoMotors.com.
So what are state and local taxes, registration fees and dealer doc fees? Here’s an explanation of each. [keep reading]