Auto Financing or Leasing Islip 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

Maple Grove Auto Repair
(518) 236-7886
4987 Military Tpke
Mooers, NY
Golden Car Service
(718) 429-7071
3260 81st St
East Elmhurst, NY
Nippon Auto Repair & Detailing
(914) 666-2766
100 S Moger Ave
Mount Kisco, NY
Bell Car Service
(718) 833-2929
405 51st St
Brooklyn, NY
Manhattan Coach International
(212) 222-4848
561 Broadway
New York, NY
Mr Obb Llc
(718) 445-1111
4221 235th St
Little Neck, NY
New Xcell Auto Repair
(718) 625-4110
60 Cadman Plz W
Brooklyn, NY
Goodyear Auto Service Centers
(585) 424-3910
400 Jefferson Rd
Rochester, NY
Elite Fleet Limousine & Car Service
(845) 369-6700
106 Orange Ave
Suffern, NY
Park Slope Car Service
(718) 788-5106
262 4th Ave
Brooklyn, 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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