Auto Financing or Leasing Commack 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

Slusaranski Aleksander
(718) 435-7999
4724 18th Ave
Brooklyn, NY
New Paltz Taxi Inc
(845) 255-1550
139 Main St
New Paltz, NY
Auto Repair Saratoga
(347) 350-8919
316 Saratoga Ave
Brooklyn, NY
Yes Car Svce Inc
(718) 492-8888
463 53rd St
Brooklyn, NY
J & T Auto Service
(518) 725-7255
165 Kingsboro Ave
Gloversville, NY
Rainbow Limousine
(631) 543-3131
9 Pickwick Dr
Commack, NY
B & D Imigrant Auto Repair
(718) 457-4490
7043 Queens Blvd
Woodside, NY
Mexicana Car & Limo Svc
(718) 446-8700
7018 35th Ave
Jackson Heights, NY
Apple Auto Service Two
(718) 606-0199
6115 32nd Ave
Woodside, NY
Lawrence Darrell Auto Repair
(518) 483-6193
2245 State Route 11B
North Bangor, 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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