Auto Financing or Leasing Monroe 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

Njb Auto Service Inc
(516) 295-0646
1226 Broadway
Hewlett, NY
Regency Leasing Corp
(718) 375-5870
2444 Coney Island Ave
Brooklyn, NY
Hotwheels Auto Repair Inc
(718) 291-0651
13415 Hillside Ave
Richmond Hill, NY
Aviv Express Car & Limo Svce
(718) 871-5444
4820 16th Ave
Brooklyn, NY
Acapulco Car Service
(718) 438-2092
4911 8th Ave
Brooklyn, NY
Auto Repair New Broadway
(718) 458-0810
5602 Broadway
Woodside, NY
Towncar Transportation
(718) 963-4310
253 Graham Ave
Brooklyn, NY
Elite Car Service & Limousine Service
(718) 472-2597
3272 Gale Ave
Long Island City, NY
US Express Car & Limo Svce
(212) 570-4400
99 Church Ave
Brooklyn, NY
Raceway Auto Repairs Inc
(718) 646-2626
2801 Knapp St
Brooklyn, 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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