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

Bill's Auto Service
(716) 873-6044
46 Comet Ave
Buffalo, NY
Dav-El Chauffered Transportation Inc
(718) 361-6794
4205 10th St
Long Island City, NY
Merrick Car Service
(718) 528-8400
12705 Merrick Blvd
Jamaica, NY
Africa Express Car Service Inc
(718) 401-8900
451 E 164th St
Bronx, NY
Exclusive Auto Center Inc
(718) 731-0011
1941 Jerome Ave
Bronx, NY
Rainbow Limousine
(631) 543-3131
9 Pickwick Dr
Commack, NY
Pearl River Taxi
(845) 735-6050
210 W Nyack Rd
West Nyack, NY
Cousins Brokerage & Olympic Insurance
(718) 278-8400
2320 24th Ave
Astoria, NY
R & R Auto Repairs
(718) 424-4698
12663 37th Ave
Corona, NY
Mexico Becerril Auto Repair
(718) 860-6199
1255 Westchester 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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