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

La Solucion Auto Repair
(718) 294-8425
1940 Jerome Ave
Bronx, NY
Hollywood Car Svce
(718) 454-9317
10910 Farmers Blvd
Saint Albans, NY
Elite Car Service & Limousine Service
(718) 937-2422
3272 Gale Ave
Long Island City, NY
Car Service 69
(212) 234-6000
511 E 85th St
New York, NY
Dominicana Car Svce Corp
(718) 507-1700
10219 Northern Blvd
Corona, NY
Pets Auto Repair
(315) 252-7223
36 York St
Auburn, NY
Kew Gardens Car Svce
(718) 846-6666
12211 Hillside Ave
Richmond Hill, NY
Easyride Car & Limousine Service
(718) 444-7766
501 Avenue M
Brooklyn, NY
N & N Auto Center Inc
(718) 783-2002
580 Grant Ave
Brooklyn, NY
J D R Truck & Auto Repair
(716) 439-8784
6279 Ridge Rd
Lockport, 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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