Auto Financing or Leasing Binghamton 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

Jacks Affordable Auto Repair
(607) 775-5505
681 Court St
Binghamton, NY
Chrriey Limo & Car Service
(718) 491-3111
486 Bay Ridge Ave
Brooklyn, NY
New Mexicana Inc
(718) 382-0100
1010 Avenue O
Brooklyn, NY
Scotties Auto Center
(718) 761-8619
1725 Richmond Ave
Staten Island, NY
B R Car Service
(347) 713-1898
1980 Utica Ave
Brooklyn, NY
Demarco's Auto Service
(607) 484-0544
209 Main St
Binghamton, NY
Kingsdale Car Service
(718) 796-2222
1 Riverdale Ave
Brooklyn, NY
Acropolis Queens Car & Limo Svce
(718) 278-1717
2206 Crescent St
Astoria, NY
New Elegante Best Car Service Inc
(718) 833-6262
5915 4th Ave
Brooklyn, NY
Dillon Car Svce
(718) 526-1949
16021 Linden Blvd
Jamaica, 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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