Auto Financing or Leasing Rensselaer 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

Rensselaer Auto Service Center
(518) 462-3514
69 Columbia St
Rensselaer, NY
Varna Auto Service
(607) 273-0595
933 Dryden Rd
Ithaca, NY
Hunts Point Car Service Corp
(718) 991-1616
1303 Bronx River Ave
Bronx, NY
Professional Mufflers & Auto Repair
(718) 901-2520
1699 Jerome Ave
Bronx, NY
Omega Car Svce Inc
(718) 341-1777
13408 232nd St
Springfield Gardens, NY
Team Goeway Racing LLC
(518) 782-5161
888 Troy Schenectady Road
Litham, NY
Yankee Doodle Taxi
(518) 465-8188
212 Broadway
Rensselaer, NY
A One Auto Repair Shop Inc
(718) 306-5006
1601 Neptune Ave
Brooklyn, NY
Ruffy Auto Repair
(718) 491-2115
9001 4th Ave
Brooklyn, NY
Stewart Auto Center Inc
(631) 286-1708
11 Station Rd
Bellport, 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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