Auto Financing or Leasing Selden 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

Haimish Car Service
(718) 854-9000
1312 44th St
Brooklyn, NY
California Car Service
(718) 532-2222
1005 Church Ave
New York, NY
U Car Service
(718) 648-5444
1319 E 17th St
Brooklyn, NY
Romantique Limousine Inc
(718) 232-7273
1421 86th St
Brooklyn, NY
Ossining Auto Repair
(914) 373-4941
44 Broad Ave
Ossining, NY
Audio Universe
(631) 451-1777
890 Middle Country Rd
Selden, NY
Pam Car & Truck Rental Inc
(516) 997-0822
463 E Jericho Tpke
Smithtown, NY
Albatroz Limo Tour
(718) 777-1234
2577 Steinway St
Long Island City, NY
Hospital Shuttle Services Inc
(718) 714-9999
1616 Mermaid Ave
Brooklyn, NY
Farmers Blvd Tire & Auto Repair Inc
(718) 341-6657
24818 Brookville Blvd
Rosedale, 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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