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
Katona Ez Ride Taxi
(914) 232-2202
85 Crescent Ter
Bedford, NY
Concorde Express of Ny Inc
(718) 645-5555
1611 E 19th St
Brooklyn, NY
Liberty Car & Limo Svc Inc
(718) 455-5555
689 Seneca Ave
Ridgewood, NY
City Lincoln Car & Limousine Service Inc
(718) 274-7888
17 Allen
Floral Park, NY
Vg Auto Repair
(646) 401-8442
847 Whittier
New City, NY
Evelyn Car Svce
(718) 230-7800
587 Vanderbilt Ave
Brooklyn, NY
Orangeburg General Auto Repairs
(845) 398-7447
187 Route 303
Orangeburg, NY
Santo Domingo Car Service Inc
(718) 699-8337
9628 Alstyne Ave
Corona, NY
Professional Mufflers & Auto Repair
(718) 466-0788
1813 Jerome Ave
Bronx, 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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