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

A Ride Taxi
(718) 397-1010
9408 118th St
South Richmond Hill, NY
Intercity Tire & Auto Center Inc
(914) 666-2155
283 Lexington Ave
Mount Kisco, NY
Masada II Car & Limo Service
(516) 887-7888
11815 Metropolitan Ave
Kew Gardens, NY
Ollie's Airport Svce
(718) 229-2064
845 Hempstead Tpke
Franklin Square, NY
Strictly Car Svce
(718) 837-7000
6512 New Utrecht Ave
Brooklyn, NY
Rainbow Limousine
(631) 543-3131
9 Pickwick Dr
Commack, NY
Galaxy Car & Limousine
(718) 777-3677
335 Bond St
Brooklyn, NY
Union Auto Center & Sales
(716) 651-0043
23 Fairview Dr
Depew, NY
Getaway Express Inc
(718) 236-2900
6512 New Utrecht Ave
Brooklyn, NY
K Hassan Auto Repair
(718) 482-6611
3801 Vernon Blvd
Long Island City, 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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