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

Church Av Car Svce Inc
(718) 633-4444
3411 14th Ave
Brooklyn, NY
A B C Car Svce
(718) 743-7575
2079 E 16th St
Brooklyn, NY
J P Auto Repair and Sales
(585) 325-3884
510 Hudson Ave
Rochester, NY
Demarco's Auto Service
(607) 484-0544
209 Main St
Binghamton, NY
Java Car Service
(718) 937-9200
3601 37th Ave
Long Island City, NY
Josephs Auto Repairs Inc
(718) 823-7881
3355 E Tremont Ave
Bronx, NY
Bayside Car Service
(718) 222-1212
16204 Crocheron Ave
Flushing, NY
Classic Touch Auto Repair & Towing
(718) 777-3900
2451 49th St
Astoria, NY
Juniors Pulaski Auto Repair Corp
(718) 383-0105
321 McGuinness Blvd
Brooklyn, NY
Victory Auto Center Corp
(718) 698-9786
3130 Victory Blvd
Staten Island, 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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