Auto Financing or Leasing Mastic 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

Quick Stop Automotive Repair Shop
(607) 746-8787
40133 State Highway 10
Delhi, NY
C & J Auto Service
(585) 659-8046
16721 Kenmore Rd
Kendall, NY
Tsl Limousine Llc
(914) 835-5445
36 Broadway
Hawthorne, NY
Datta Auto Repair
(718) 901-2317
2026 Lafontaine Ave
Bronx, NY
South Main Auto Repair
(607) 566-2225
47 Main
Avoca, NY
Limo-Cars
(631) 929-5263
30 Pentmoor Dr
Mastic, NY
Lindy's Taxi Svce
(718) 456-4108
6216 Metropolitan Ave
Middle Village, NY
Serino Auto Service Inc
(718) 728-9416
3367 11th St
Long Island City, NY
Dyker Car Svce
(718) 833-3838
9411 3rd Ave
Brooklyn, NY
Flushing Express Car Service
(718) 961-5333
4120 College Point Blvd
Flushing, 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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