Auto Financing or Leasing Brentwood 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

El Salvador Auto Center
(631) 951-3557
1234C Suffolk Ave
Brentwood, NY
Greenline Taxi
(631) 436-7272
140 Heyward St
Brentwood, NY
Brent Auto Repair
(631) 231-3030
725 Suffolk Ave
Brentwood, NY
Eltarcit Auto Repair
(914) 205-3388
18 Morgan St
Yonkers, NY
Partners Auto Repair
(716) 823-2503
1402 S Park Ave
Buffalo, NY
Suffolk Av Auto Repair
(631) 813-2907
1156 Suffolk Ave
Brentwood, NY
Auto Center Universal
(631) 273-0106
1208 Suffolk Ave
Brentwood, NY
Galarza Auto Repair
(631) 456-5853
1224 Suffolk Ave
Brentwood, NY
A D Private Car Svce Inc
(718) 416-1114
6936 76th St
Flushing, NY
Webster Express Auto Repair
(718) 293-9532
1407 Webster Ave
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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