Auto Financing or Leasing Orchard Park 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

Bensonhurst Car Service Corp
(718) 946-1589
7 Bay 28th St
Brooklyn, NY
Taif Auto Repair
(718) 292-2110
1054 Washington Ave
Bronx, NY
Merrick Services
(516) 868-5281
1577 Merrick Rd
Merrick, NY
A Auto Repair & Towing On Coney Island Ave
(718) 437-0641
28 Canton Ct
Brooklyn, NY
Unc Car & Limo Svc
(212) 427-2727
2319 1st Ave
New York, NY
Key Dealer Services
(716) 646-1210
7935 Boston State Rd.
Hamburg, NY
Yiyi's Auto Repair
(716) 332-8201
55 Rhode Island St
Buffalo, NY
Lee Chin Moon
(718) 222-1212
16204 Crocheron Ave
Flushing, NY
Dragon Auto Center
(718) 359-2518
13119 Sanford Ave
Flushing, NY
City Pic Inc
(718) 875-8816
374 4th Ave
Brooklyn, 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.


Click here to read the rest of the article at YoungMoney.com.