Auto Financing or Leasing Mahopac 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

Richmond Car Service
(718) 356-6666
61 Englewood Ave
Staten Island, NY
Doughty Auto Service
(845) 229-2722

Hyde Park, NY
Blu-White Car Service
(718) 324-2222
708 Nereid Ave
Bronx, NY
American Dream Car & Limo Service Inc
(212) 426-1010
163 E 92nd St
New York, NY
Bohemia Auto Center Inc
(631) 738-7018
4173 Veterans Memorial Hw
Ronkonkoma, NY
Mario's Car and Limo Svc
(718) 432-8888
217 W 259th St
Bronx, NY
Phil's Auto Service
(716) 877-5505
155 Marion St
Buffalo, NY
Big Apple Car Inc
(718) 236-8765
169 Bay 17th St
Brooklyn, NY
Prs Transportation
(516) 931-4999
53 Kingston Ave
Hicksville, NY
Paladium Car Service
(718) 376-8811
367 Avenue X
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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