Auto Financing or Leasing Schenectady 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

Craftons Auto Center
(518) 723-2191
1853 State St
Schenectady, NY
R S Auto Center
(631) 608-1310
4 Beachview St
Copiague, NY
Bulls Auto Repair
(718) 251-9743
1340 E 92nd St
Brooklyn, NY
Co-Op City Luxury Car & Limousine Svce Inc
(718) 792-2222
3287B Westchester Ave
Bronx, NY
Velotax Limo & Car Svce
(718) 699-1799
5835 College Point Blvd
Flushing, NY
Team Goeway Racing LLC
(518) 782-5161
888 Troy Schenectady Road
Litham, NY
Burns Auto Center
(518) 612-6020
401 Broadway
Schenectady, NY
Royal Car & Limo Svce
(718) 323-1555
10409 109th St
South Richmond Hill, NY
Caja Auto Repair
(718) 451-1715
251 E 88th St
Brooklyn, NY
Taif Auto Repair Inc
(646) 542-6479
1204 Washington Ave
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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