Auto Financing or Leasing Potsdam 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

D-Top Auto Repair Inc
(718) 778-5509
1781 Atlantic Ave
Brooklyn, NY
Best Ride Car Service
(718) 332-3838
1011 Avenue Z
Brooklyn, NY
Blue Lane Car Svce
(718) 835-8500
10419 99th St
Ozone Park, NY
C&w's Auto Repair
(315) 855-7618
11577 Miner Rd
Brookfield, NY
South Car Service
(718) 617-1111
1670 Longfellow Ave
Bronx, NY
Unity Car Svce Inc
(718) 297-2222
8762 Parsons Blvd
Jamaica, NY
Depaul Car Service
(718) 252-4222
1109 E 34th St
Brooklyn, NY
Elite Car Service & Limousine Service
(718) 937-2442
3272 Gale Ave
Long Island City, NY
Cardomain Network Inc
(212) 213-1391
232 Madison Ave
New York, NY
Fordham Car Wash
(718) 365-5822
610 E Fordham Rd
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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