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
Park Av Town Car & Limousine Svce
(212) 619-2222
1900 Colden Ave
Bronx, NY
Deisel Motor
(845) 809-5263
9 Route Lone Gate Rd
Cold Spring, NY
Grand Limo & Car Svc
(718) 433-0033
3607 32nd St
Long Island City, NY
Valley Auto Center
(845) 928-6364
238 State Route 32
Woodbury, NY
Vg Auto Repair
(646) 401-8442
847 Whittier
New City, NY
Citicar Transportation Corp
(718) 361-5770
3860 13th St
Long Island City, NY
Why Wait Luxury Car Service
(718) 824-9500
1954 Cross Bronx Expy
Bronx, NY
2M Auto Repair
(315) 735-8481
1108 Saint Vincent St
Utica, NY
Foumba Limo Car Service
(718) 484-2190
316 Saratoga 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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