Auto Financing or Leasing Centereach 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

Manabi Auto Repair
(718) 328-3232
1819 W Farms Rd
Bronx, NY
Circle 8 Auto Repair
(631) 586-1555
127 Brook Ave
Deer Park, NY
New Commando Car Svc
(718) 478-7474
10254 43rd Ave
Corona, NY
Greenwood Lake Taxi
(845) 477-0314
97 Windermere Ave
Greenwood Lake, NY
Fast Lane Diesel & Auto Repair
(518) 477-5797
1525 Columbia Tpke
Castleton On Hudson, NY
Rite-Way Private Car Svce Corp
(718) 597-1111
1598 Bronxdale Ave
Bronx, NY
Java Car Business
(718) 937-3745
3601 37th Ave
Long Island City, NY
Sufi Auto Repair & Body Shop Inc
(718) 392-2230
1311 44th Ave
Long Island City, NY
Flushing Express Car Service
(718) 478-7007
4173B Bowne St
Flushing, NY
Mitchy Auto Service
(631) 859-1259
57 Moffitt Blvd
East Islip, 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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