Auto Financing or Leasing Canandaigua 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

60 Auto Repair Inc
(718) 651-8126
8925 Elmhurst Ave
Flushing, NY
New York Mexicana Car & Limousine Service
(718) 592-1300
4906 Junction Blvd
Flushing, NY
Carey of Westchester
(914) 921-4300
199 Ridgewood Dr
Elmsford, NY
Mobile Car Service Inc
(212) 714-0333
484 Union Ave
Brooklyn, NY
Andreas Auto Repair
(718) 937-9144
3812 30th St
Long Island City, NY
New Seventy Seventh St Car Svce the
(718) 238-3550
5074 77
Brooklyn, NY
Cooperative Car Svc
(718) 699-1111
10918 Corona Ave
Corona, NY
Kew Gardens Car Svc
(516) 794-2443
12211 Hillside Ave
Richmond Hill, NY
Circle 24 Car Service
(516) 292-1616
191 Woodfield Rd Apt 2B
West Hempstead, NY
California Car Service
(718) 282-4444
1005 Church Ave
Brooklyn, NY

Provided by:

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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