Auto Financing or Leasing Nyack 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

Peoples Automotive Repair Inc
(718) 654-7248
2970 Paulding Ave
Bronx, NY
Empire Car and Limo Service
(718) 972-7212
1026 49th St
Brooklyn, NY
Aldo's Auto Repair
(631) 957-2421
134 N 8th St
Lindenhurst, NY
Transit Private Car Svce
(718) 649-4100
1417 Rockaway Pkwy
Brooklyn, NY
Purvis Auto Repair Corp
(718) 383-2777
4443 Purves St
Long Island City, NY
Nyack Car Service
(845) 348-1111
194 Main St
Nyack, NY
Remsen Auto Service
(718) 552-2138
9722 Ditmas Ave
Brooklyn, NY
Nelo Auto Repair Corp
(718) 731-1880
1700 Carter Ave
Bronx, NY
Pratt Car Service
(718) 789-4900
562 Myrtle Ave
Brooklyn, NY
Cjr Auto Repair
(718) 273-3334
1890 Richmond Ter
Staten Island, 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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