Question

what is a fee charged by the leasing company to initiate the lease also known as a bank fee

Answer 1

The fee charged by the leasing company to initiate the lease, commonly referred to as a **bank fee** or **lease initiation fee**, is typically called an **acquisition fee**. This fee covers the costs associated with processing the lease, including credit checks, paperwork, and administrative tasks required to set up the lease agreement. Acquisition fees can vary in amount and are often non-negotiable, but they should be clearly disclosed in the lease agreement.