Auto Financing or Leasing Depew 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

Union Auto Center & Sales
(716) 651-0043
23 Fairview Dr
Depew, NY
Ny Seven Car Limo Inc
(718) 630-5959
6902 11th Ave
Brooklyn, NY
Best Automotive Inc
(516) 465-3944
180 Miller Pl
Hicksville, NY
Jer Car Auto Repair
(718) 861-3158
1988 Jerome Ave
Bronx, NY
Techniques Auto Repair of Ny
(718) 287-5282
310 Clarkson Ave
Brooklyn, NY
Key Dealer Services
(716) 646-1210
7935 Boston State Rd.
Hamburg, NY
Garcia Auto Repair
(718) 588-0888
1431 Inwood Ave
Bronx, NY
Five Star Car Svc
(718) 940-0044
787 Coney Island Ave
Brooklyn, NY
Albertos Auto Repair
(718) 401-5835
3380C 3rd Ave
Bronx, NY
Hans Auto Service
(516) 676-2179
6 Birch Hill Rd
Locust Valley, 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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