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

R & R Auto Repair
(914) 964-3007
558 S Broadway
Yonkers, NY
Southern Body Parts
(315) 685-1411
816 W Genesee Rd
Baldwinsville, NY
New City Limo Svce
(718) 442-0100
1138 S Railroad Ave
Staten Island, NY
Latch Car Svce
(718) 529-9000
11105 128th St
South Ozone Park, NY
Galexy Auto Repair Inc
(718) 657-0808
13113 Hillside Ave
Richmond Hill, NY
Express One Car Srv
(718) 383-2727
202 Bedford Ave
Brooklyn, NY
Central Auto Repair
(718) 205-6247
11240 Roosevelt Ave
Corona, NY
New Paisa Car Service
(718) 639-6500
2616 23rd Ave
Astoria, NY
Quality Car Svce
(718) 629-2540
4912 Avenue D
Brooklyn, NY
Skyway Car & Limousine Svc
(718) 591-5454
6820 Fresh Meadow Ln
Fresh Meadows, 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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