Auto Financing or Leasing Elmont 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

Advantage Funding
866-392-1300
1111 Marcus Ave #M27
Lake Success, NY
Fleet Lease Network
201-200-1100
406 Sip Avenue
Jersey City, NJ
Auto Expo Store
800.818.6864
46 NORTHERN BLVD
GREAT NECK, NY
A & E Auto Repair
(631) 471-1549
1743 Julia Goldbach Ave
Ronkonkoma, NY
Transportation Unlimited Car Svce
(718) 363-1000
1226 Nostrand Ave
Brooklyn, NY
New Jersey State Auto Auction
201-200-1100
Jersey City, NJ
Credit4Wheels.com
1.866.34.DRIVE
93-25 Rockaway Blvd
Ozone Park, NY
ALLcreditfinancialservices.com,LLC
516-537-8175
Northern Blvd
Roslyn, NY
Clinton Car Service
(718) 852-9000
78 Henry St
Brooklyn, NY
Continental Car Svce
(718) 507-8006
9802 Astoria Blvd
East Elmhurst, 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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