Auto Financing or Leasing Albany NY

Learning the differences between auto financing and leasing will help you decide which option is best for you. Read this article and know more.

Local Companies

Capital Hill Auto Service
(518) 462-7000
1408 Central Ave
Albany, NY
Premier Car Svce Inc
(718) 629-1038
4916 Foster Ave
Brooklyn, NY
Utopia Auto Repair
(718) 357-5303
17533 Horace Harding Expy
Flushing, NY
Yahira Auto Center
(212) 567-7861
3966 10th Ave
New York, NY
Aabac 24 Hour Auto Repair & Towing
(646) 307-4328
249 E 10th St
New York, NY
Team Goeway Racing LLC
(518) 782-5161
888 Troy Schenectady Road
Litham, NY
New Mazel Corp
(718) 436-8000
5512 13th Ave
Brooklyn, NY
Johns Professional Auto Repair
(516) 746-0797
2201 Jericho Tpke
New Hyde Park, NY
Anthony's Taxi
(845) 485-8580
36 Roosevelt Ave
Poughkeepsie, NY
Metro Chrysler Plymouth Jeep Eagle
(718) 479-6238
21110 Jamaica Ave
Queens Village, NY

Provided by:

It's like buying a new pair of shoes. Everyone has an opinion on the topic, but the best advice is to scope out which is the right fit for you.

Ownership

Leasing: You do not own the vehicle. You get to use it but you have to return it when your lease ends. If your lease vehicle has a purchase option, you may be able to purchase your vehicle during the term of the lease or at lease end.

Buying: You own the vehicle and you get to keep it when you pay off the amount owed under the financing contract.

Up-front costs

Leasing: The money you pay before you take possession of the car may include the first month's payment, a refundable security deposit, a capitalized cost reduction (like a down payment), taxes, registration and other fees, and other charges.

Buying: Up-front costs include the cash price or a down payment (if you finance), taxes, registration and other fees, and other charges.

Monthly payments

Leasing: When you lease a car, you are paying only for the vehicle's depreciation during the lease term plus rent charges (like interest), taxes, and fees and charges that may be owed during the lease. This usually makes monthly lease payments lower than monthly loan or other finance contract payments.

Buying: When you finance your purchase, you are paying for the entire purchase price of the vehicle, plus interest and other finance charges, taxes, and fees. This means that you're probably going to end up spending more on a finance monthly payment than on a lease monthly payment.


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