Auto Financing or Leasing Penfield 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

Mariachi Star Car Service
(718) 236-7777
6318 14th Ave
Brooklyn, NY
Speedy Auto Service
(585) 647-6400

Rochester, NY
Queens General Car Service
(718) 380-0316
8233 164th St
Jamaica, NY
High Class Limo Bx
(718) 933-1111
268 W Fordham Rd
Bronx, NY
Holiday Limousine
(516) 781-1762

Wantagh, NY
Mar Can Transportation
(914) 668-3772
318 E 3rd St Fl 2
Mount Vernon, NY
Lexington Limousine
(914) 761-0515
222 Bloomingdale Rd Ste 108
White Plains, NY
Haimish Car Svc
(718) 972-5151
1312 44th St
Brooklyn, NY
Page-A-Ride
(718) 786-8866
2702 43rd Ave
Long Island City, NY
Federal Armored Express Inc
(212) 382-1177
580 5th Ave
New York, 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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