Auto Financing or Leasing Poughkeepsie 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

New Paltz Auto Sales
(845) 255-2277
91 North Chestnut Street
New Paltz, NY
Hans Auto Service
(845) 255-8130
251 Route 32 North
New Paltz, NY
Tom's Repair Shop, Inc
(845) 255-1288
101 South Putt Corners Road
New Paltz, NY
Hess Express
(845) 691-2090
491 Rt. 299
Highland, NY
Quality Machine Shop
(845) 255-6464
1 South Oakwood Terace
New Paltz, NY
Ireland Corners Automotive Group
(845) 255-7600
2170 Route 44 55
Gardiner, NY
Beek's Auto
(845) 255-7376
3128 Route 44-55
Gardiner, NY
Midas
(845) 255-6225
242 Main Street
New Paltz, NY
Kimlin Propane Co., Inc.
(845) 255-7324
PO Box 218
Gardiner, NY
Sunoco APlus Mini Market
(845) 255-5749
270 Main Street
New Paltz, 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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