Auto Financing or Leasing New City 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

Nanuet Luxury Car Service
(845) 573-9191
6 Briarcliff Rd
New City, NY
Coupal's Auto Repair
(518) 493-4643
169 Harvey Rd
West Chazy, NY
Clinton Car Service
(718) 522-4474
105 Court St
Brooklyn, NY
New York 88 Express Corp
(212) 260-6900
2702 43rd Ave
Long Island City, NY
Flushing Car Svce
(718) 358-1111
3609 164th St
Flushing, NY
Vg Auto Repair
(646) 401-8442
847 Whittier
New City, NY
Delancey Car Service
(212) 228-3301
29 Essex St
New York, NY
Vets One Taxicab Svc
(607) 962-8294
361 Baker Street Ext
Corning, NY
Nymex Car Service
(718) 786-1000
4309 39th St
Sunnyside, NY
New Yorker Car & Limousine Service
(718) 777-5555
2577 Steinway St
Long Island City, 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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