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

Capital Hill Auto Service
(518) 462-7000
1408 Central Ave
Albany, NY
Diamond Limo
(518) 439-8000
45 Paxwood Rd
Delmar, NY
Century Car Service
(718) 428-1010
7845 Springfield Blvd
Oakland Gardens, NY
A C Auto Repair
(585) 964-8090
1422 Lake Rd
Hamlin, NY
Century Car Service
(718) 465-1105
7845 Springfield Blvd
Oakland Gardens, NY
Rainbow Limousine
(631) 543-3131
9 Pickwick Dr
Commack, NY
Heaths Auto Repair
(518) 891-5106
92 Broadway
Saranac Lake, NY
Miles Private Cars Inc
(718) 884-8888
3472 Bailey Ave
Bronx, NY
Goodyear Auto Service Centers
(585) 424-3912

Rochester, NY
Suntech Auto Repair
(347) 713-5099
2701 Knapp
New York, 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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