Auto Financing or Leasing Nanuet 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

Ecualimo Car Service
(845) 624-8000

Nanuet, NY
Cardomain Network Inc
(212) 213-1391
232 Madison Ave
New York, NY
Fordham Car Wash
(718) 365-5822
610 E Fordham Rd
Bronx, NY
Audio Universe
(631) 451-1777
890 Middle Country Rd
Selden, NY
For Kids Auto Repair & Towing
(585) 268-5161
61 Greenwich St
Belmont, NY
Intercity Tire and Auto Center
(845) 624-0136
190 Route 304
Nanuet, NY
Ecualimo Car Service
(845) 624-4571
111 Main St
Nanuet, NY
C&w's Auto Repair
(315) 855-7618
11577 Miner Rd
Brookfield, NY
South Car Service
(718) 617-1111
1670 Longfellow Ave
Bronx, NY
Zion Car Svce
(718) 871-4000
4920 New Utrecht Ave
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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