Auto Financing or Leasing Hauppauge 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

U Car Service
(718) 648-5444
1319 E 17th St
Brooklyn, NY
Romantique Limousine Inc
(718) 232-7273
1421 86th St
Brooklyn, NY
Ossining Auto Repair
(914) 373-4941
44 Broad Ave
Ossining, NY
60 Auto Repair Inc
(718) 651-8126
8925 Elmhurst Ave
Flushing, NY
New York Mexicana Car & Limousine Service
(718) 592-1300
4906 Junction Blvd
Flushing, NY
Comfort Ride
(631) 232-1900
25 Newton Ave
Hauppauge, NY
Hospital Shuttle Services Inc
(718) 714-9999
1616 Mermaid Ave
Brooklyn, NY
Farmers Blvd Tire & Auto Repair Inc
(718) 341-6657
24818 Brookville Blvd
Rosedale, NY
New Seventy Seventh St Car Svce the
(718) 238-3550
5074 77
Brooklyn, NY
Cooperative Car Svc
(718) 699-1111
10918 Corona Ave
Corona, 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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