Auto Financing or Leasing Auburn 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

First Class Car Service
(718) 493-4306
1071 Rutland Rd
Brooklyn, NY
D A T Radio Dispatch
(718) 328-8888
650 Soundview Ave
Bronx, NY
J R C Auto Repair
(516) 334-3969
549 Old Country Rd
Westbury, NY
Surf Car Systems Svce
(718) 327-4444
2118 Mott Ave
Far Rockaway, NY
Race Track Auto Center Inc
(718) 294-4822
1734 Webster Ave
Bronx, NY
Pets Auto Repair
(315) 252-7223
36 York St
Auburn, NY
Family San Juan Radio Dispatch Inc
(212) 927-7900
2440 Amsterdam Ave
New York, NY
Parsons Car Svc Inc
(718) 206-3300
15906 Hillside Ave
Jamaica, NY
American Base # 1
(718) 665-6663
522 E 149th St
Bronx, NY
AA Auto Repair Shop
(718) 893-2230
1006 E 173rd St
Bronx, NY

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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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