Auto Financing or Leasing Hamburg 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

Hamburg School Car Service
(716) 649-8048
3080 Amsdell Rd
Hamburg, NY
Dave's Auto Service
(716) 826-9319
1719 Seneca St
Buffalo, NY
Auto Service Center
(718) 331-8555
1302 65th St
Brooklyn, NY
Candido Auto Repair
(718) 299-0392
1687 Carter Ave
Bronx, NY
Joey Tais Auto Repair
(718) 298-6898
14723 Archer Ave
Jamaica, NY
Key Dealer Services
(716) 646-1210
7935 Boston State Rd.
Hamburg, NY
Champlain Auto Repair and Service
(518) 298-2277
691 State Route 11
Champlain, NY
Prestige Taxi Svce
(845) 947-4747
5 Conger Ave
Haverstraw, NY
Eagle Al Auto Repair
(718) 876-0900
41 Rector St
Staten Island, NY
Carmel Car & Limousine Svce
(212) 431-2655
2642 Broadway
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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