When you take out a car loan, it’s easy to focus only on the monthly payment or the interest rate. But are you considering the hidden costs that could add up over time? In this article, we’ll uncover often-overlooked expenses like loan origination fees, prepayment penalties, mandatory insurance coverage, dealer add-ons, and GAP insurance. Understanding these hidden costs will help you make a smarter financial decision and avoid surprises during the life of your loan.