Auto Financing or Leasing Bay Shore 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

Lightning Auto Service
(718) 424-2470
3402 127th St
Corona, NY
East Coast Limo Service
(212) 889-4949
234 E 24th St
New York, NY
Prominent Car & Limo Service
(212) 677-6599
132 Montague
New York, NY
Call-A-Cab
(718) 846-4646
9408 118th St
South Richmond Hill, NY
Goreo Professional Auto Repair
(718) 359-4242
2044 130th St
College Point, NY
Molinas Auto Repair
(631) 894-9962
35 5th Ave
Bay Shore, NY
Flushing Express Car Service
(718) 205-3341
4173B Bowne St
Flushing, NY
Shore Car Svce
(718) 474-7100
239 Beach 116th St
Rockaway Park, NY
Fairway Private Taxi Co
(718) 592-3333
4611 108th St
Flushing, NY
D & D Auto Repairs
(518) 273-8297
208 19th St
Watervliet, 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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