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

Burns Auto Center
(518) 612-6020
401 Broadway
Schenectady, NY
P J Car Service Inc
(718) 479-7676
8798 Francis Lewis Blvd
Queens Village, NY
Limo-Cars
(631) 929-5263
30 Pentmoor Dr
Mastic, NY
Monaco Car Service
(718) 230-0202
742 Washington Ave
Brooklyn, NY
New Puebla Car & Limo Svc Inc
(718) 458-6464
6935 51st Ave
Woodside, NY
Rainbow Limousine
(631) 543-3131
9 Pickwick Dr
Commack, NY
Village Car Svce
(718) 698-6900
3747A Victory Blvd
Staten Island, NY
Accord Car & Limo Svc Inc
(718) 786-2226
4716 48th Ave
Woodside, NY
Ontime Car Service
(718) 891-2600
2111 E 19th St # 4
Brooklyn, NY
Amilcars Auto Repair
(914) 864-0676
309 N Bedford Rd
Mount Kisco, 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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