Auto Financing or Leasing Monsey 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

Sikorsky Auto Repair
(845) 354-3797
475 Route 306
Monsey, NY
Mi Thayer Auto Repair
(718) 424-7289
5106 70th St
Woodside, NY
Jilly's Car Service
(718) 859-8300
2045 McDonald Ave
Brooklyn, NY
All Boro Car Svce
(718) 428-1010
3467 Francis Lewis Blvd
Flushing, NY
Spring Valley Auto Repair
(607) 746-3757
3937 Spring Valley Rd
Delhi, NY
Dbd Car Service
(845) 352-4700
19 Main St
Monsey, NY
Elite Auto Repair Inc
(718) 842-9500
524 Bryant Ave
Bronx, NY
Abilene Limousine Svce
(718) 723-7400
16223 N Conduit Ave
Jamaica, NY
A Ride Taxi
(718) 699-1000
7619 Rockaway Blvd
Woodhaven, NY
Jms Auto Repair Inc
(718) 937-9145
5103 Van Dam St
Long Island City, 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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