Auto Financing or Leasing Coram 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

18th Avenue Private Car Svce Inc
(718) 372-2500
8439 New Utrecht Ave
Brooklyn, NY
New Harlem Car Service Inc
(212) 663-9090
2134 Frederick Douglass B
New York, NY
Wadsworth Car Service
(718) 442-4242
1254 Bay St
Staten Island, NY
United Auto Repair & Body Shop Inc
(718) 786-6677
3806 31st St
Long Island City, NY
Nu-Nu Car & Ambulatory Svce
(718) 525-2943
16925 137th Ave
Jamaica, NY
Vinnie's Auto Service
(516) 349-0150
155 Terminal Dr
Plainview, NY
Magic Touch Auto Repair Inc
(516) 333-0099
865 Carman Ave
Westbury, NY
All Care Medical Management Inc
(718) 978-5759
12921 Merrick Blvd
Jamaica, NY
Weinstein Allison
(718) 858-6060
26 Court Syt
Brooklyn, NY
Aristacar Inc
(212) 809-8288
1447 31st Ave
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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